All FFIEC regulatory updates issued in the last two years either directly or indirectly relate to vendor management and outsourcing. In addition, social media, cloud computing and managing payment service providers all have vendor management as the common link. According to the recently released NCUA 2014 Supervisory Focus, credit unions are expected to have the appropriate vendor management processes in place to better prevent, detect, and recover from cyber-attacks. Clearly this is an area of increased regulatory scrutiny, and will continue to be so for the foreseeable future. How do the new expectations differ from current practices, and what steps do financial institutions need to take now?
- Vendor or service provider...why does it matter?
- Expanding the risk assessment
- The details of due diligence
- Contracts - the single most important control
- The new SOC reports - Understanding the differences
- Vendor regulatory exams - The new regulatory requirement
- Attendees will receive white papers on 5 Keys to Understanding a SOC 2 Reports, and 7 Cloud Vendor Deal Breakers for Financial Institutions
- Attendees will also receive a vendor due diligence checklist and a vendor contracts checklist
Who Should Attend?
Risk managers, Internal auditors, CIO, ISO, Compliance Officers, those who are involved with vendor management at their institution.
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