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This seminar will assist community banks in navigating the critical considerations needed to effectively implement a sound vendor management program.
Community banks may outsource a service, but they cannot outsource the responsibility. In a financial environment wrought with strong enforcement actions, rising regulatory expectations, and massive data breaches, community banks must understand and manage a secure network of relationships to ensure customer data, bank transactions, business activity, and shareholders are protected.
Relationships with third-party vendors are commonplace and many provide a strategic advantage; however, the rewards aren't without risk to financial institutions. Intense regulatory scrutiny and variations in third-party service application are challenging the risk management practices utilized by today's community banks.
Learning Objectives:
Participants will examine the vendor management lifecycle and discuss:
Effective strategies for vendor selection.
Evaluating risk associated with service providers.
Guidelines for structuring your vendor agreements.
Methods for monitoring and measuring success of your third-party vendors.
Throughout the seminar practical advice and guidance will be shared including:
How to remove the guesswork related to employee responsibility and vendor management.
Key compliance considerations to monitor service provider relationships.
New policy, procedures, and retention strategies.
9:00 a.m. – 12:00 p.m.
Vendor management defined/stakeholder responsibilities: C-level, management, legal, IT, security, and HR
Exercise 1 – Vendor risk assessment
12:00 p.m.- 12:30 p.m.
12:30 p.m. - 4:30 p.m.
Exercise 1 - Discussion, Q&A
Threats and risks related to vendor management/risk mitigation.
SOC review demonstration: results, user entity controls, bridge letters, etc.
Exercise 2 – SOC review
9:00 a.m. - 12:00 p.m.
Third-party risk management changes and impact
Contracts & SLAs
Vendor contract/ensuring an effective service level agreements/OLAs and
underpinning contracts.
Exercise 3 – Contract review/
Final Q&A
ICBA Members: $695
Non-Members: $795
Bank Director Program Members: $495
Bank Director Program Non-Members: $595
*Attendance may be subject to ICBA approval.
This event is not recorded. For more information, call 800-422-7285 or email education@icba.org.
Upon registration you will receive an email from ICBA confirming your registration, the dates of the event and a calendar invitation for the event. Approximately 1-2 weeks prior to the event start date, you will receive an email from an ICBA representative containing detailed information including event times and the meeting link.
Who should attend: Risk Mgt, Vendor Mgt, C-Suite, Directors
Prerequisites: Basic knowledge of vendor selection and management
Advanced Preparation: None
Program Level: Intermediate
Field of Study: Specialized Knowledge
Delivery Method: Group Live
Continuing Professional Education (CPE) Credit Hours: 11
To receive full CPE credit for ICBA livestream event you must meet the following requirements:
ICBA Education is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: nasbaregistry.org.
In accordance with the standards of the National Registry of CPE Sponsor, CPE credits have been granted based on a 50-minute hour.
Director
CliftonLarsonAllen
Manager
CliftonLarsonAllen, Minneapolis
Internal Audit Manager
CLA Champaign
Registration, attendance, or participation at this event constitutes an agreement to adhere to the ICBA code of conduct and complaint policy. ICBA aims to be welcoming, safe, and inclusive to all participants, with the most varied and diverse backgrounds possible.
As such, The Independent Community Bankers of America ("ICBA" or the "Association") has adopted a zero-tolerance policy toward all forms of unlawful discrimination and harassment.
Suitcasing is the act of soliciting business by non-exhibiting companies during the event or in other public spaces, including another company's booth, a convention center, or a hotel lobby.?It is ICBA event management''s objective to do everything legally possible to protect its exhibitors and community banker attendees from suitcasing.
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