This course is provided by the Compliance Education Institute.
Complying is not just about “not being fined”. Through this course, you will get a 60-minute overview of the steps that go into a successful vendor management program.
Key components of a compliant program will be discussed including:
- Which vendors to include in your inventory
- Risk rating methodology
- Due Diligence
- Periodic Review
- Contract Review
- Contract Tracking
Additional areas covered include:
- Implementation: A discussion of how you gain executive sponsorship, stakeholder buy-in, centralized management/decentralized ownership, vendor stratification, questionnaire development and creating a document repository.
- Vendor Red Flags: There are a number of red flags to look for when collecting documentation that might indicate you should avoid this vendor.
- Examiner expectations: Eliminate the guesswork as to what examiners are looking for and find out which reports and documentation you need to provide. Understand the difference between SSAE 16’s, different types of cloud computing environments and what you should be doing about complimentary user entity controls.
- Regulations: the key regulations, guidance and rules that you must comply with from FFIEC Guidance, GLBA 501(b), FACTA, FCRA, FTC, Red Flags, Disposal Rule and the most recent OCC and FRB Guidance.
Upon registration, you will receive a copy of the presentation for taking notes.
Who should take this course?
Auditors, vendor program managers, vendor management committee, risk officers, compliance officers, CIOs, CFOs, COOs and those responsible for managing and supporting your vendor management program at your credit union.
About the presenter: Compliance Education Institute LLC
Mick Kless is the founder and CEO of RISC Associates, a regulatory compliance consultancy and compliance automation tools developer, and Compliance Education Institute, the training and education division of RISC. He is a recognized industry expert on vendor management and the creator of the Certified Regulatory Vendor Program Manager (CRVPM) course. Mick has spent more than 30 years in financial services, has focused on GLBA 501(b) issues since 2001 and has specialized in vendor management regulatory issues since 2004.
For course access questions, email email@example.com.