Third-party risk is a hot topic issue for regulators. So how do you outsource to a third-party vendor to enhance your member experience, while staying compliant?
CUNA and the Compliance Education Institute have come together to offer web-based, self-paced courses and guides for credit union professionals that address the growing industry demand for specialized expertise in building and managing compliant vendor management programs.
Certified Regulatory Vendor Program Manager (CRVPM®) Level I
Develop a solid understanding of regulatory and compliance knowledge, program implementation methodology, risk mitigation strategies and best practices required to build and manage a compliance program and properly prepare for regulatory exams and audits.
Certified Regulatory Vendor Program Manager (CRVPM®) Level II
This course begins with setting up Lines of Defense, a classic risk management approach to structuring your vendor management program, and how to apply it to the basic hub & spoke vendor management structure discussed in Certified Regulatory Vendor Program Manager (CRVPM®) Level I. The course then goes on to address the five components of the vendor management life cycle.
Certified Regulatory Vendor Program Manager (CRVPM®) Level III course (online)
The Certified Regulatory Vendor Program Manager (CRVPM®) Level IlI expands upon existing concepts from the CRVPM Level I and Level ll courses, diving deeper and expanding upon a number of areas previously studied as well as introducing new concepts and content.
Certified Regulatory Vendor Program Manager (CRVPM®) Level IV course
This program takes a deep dive into Business Continuity Management (BCM) with emphasis on updated FFIEC Guidance. Business impact analysis, risk assessments, continuity planning, crisis management and pandemic planning will all be covered.
Vendor Management: The BIG Picture
Get a 60-minute overview of the steps that go into a successful vendor management program.
Vendor Management: Essentials
This 120-minute, four-chapter course borrows from our highly acclaimed Certified Regulatory Vendor Program Manager (CRVPM®) course and takes a detailed dive into the essential areas that anyone tasked with vendor management must know.
3rd Party Resilience: Is Your VENDOR Prepared for Disruption?
Determine whether your vendor's Business Continuity Plan is sound.
Vendor Site Visits: Beyond the Welcome Mat
This course begins with the planning and preparation stages so that you set an agenda for yourself in order to come away with the information you need to make intelligent business decisions about the vendor relationship.
Program Structure and Compliance
Building a 3rd party risk management program is like building a house; it needs a foundation, framework, support structure and has to meet code. This course, brought to you by Compliance Education Institute LLC, covers 3 areas.
Contract Issues & Exposures
This course starts by reviewing the regulatory recommendations from all FFIEC agencies concerning contractual terms and conditions and then continues on to detail the issues and exposures that can result when the contractual bases aren't thoroughly covered. This includes terms and conditions that are often overlooked, yet expose the institution to risk and liability, and that should be included in contracts to better manage risk and protect the institution will be reviewed.
Outsource Planning and Exit Strategy
This course dives into the first and last stages of the 3rd Party Risk Management Lifecycle, Outsource Planning and Exit/Transition, focusing on how a well-planned outsource and exit accomplishes 5 key objectives.
3rd Party Selection, Performance and Value
This course will address the questions above and covers the second and fourth stages of the 3rd Party Risk Management Lifecycle: Selection and Monitoring & Review.
In a world where we are trusting more vendors to do more things for our members, educating yourself is the best place to start. This course is full of practical ideas and resources you can use, without requiring a small army of staff to get the job done.
If your program is in it's infancy, or already established and just needs some updating, you'll find resources to do your job better within this course.
Matthew Bailey, CUCE, BSACS, CRVPM
Director of Compliance, Linn Area Credit Union