Vendor Management Program: How Model Risk Fits In

Financial institutions increasingly relying on third-party providers to offer their products and services creates increased risk. This educational session provides best practices to help you develop a simple, yet comprehensive Vendor Management Program and a Model Risk Management Program.

Monday, August 5th, 2024
1:30 pm - 3:30 pm
Presented by Marci Malzahn
$299.00 or 1 Token

Includes: Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Accounting/Reporting
  • Auditing
  • Compliance
  • Information Technology/Security
  • Risk Management/Legal
  • Technology/Security
  • Compliance Officer
  • Internal Auditor
  • IT Professional
  • Privacy Officer/Information Security Professional
  • Risk Manager
  • Security Officer

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Starting with the core system and following with all the banking products you offer to your clients that depend on technology, how in-depth should your due diligence be?

Along with Vendor Management, which includes all the third-party providers of systems and software, comes yet another risk – Model Risk. This session will explain step by step the OCC SR Letter 11-7 following their guidance on Model Risk Management. You will walk away with a clearer understanding of where Vendor Management and Model Risk Management fit within your ERM program.

The session will cover best practices to help you develop a simple, yet comprehensive Vendor Management Program and a Model Risk Management Program based on the speaker’s experience, the FFIEC IT Examination Handbook, and OCC’s guidance on Model Risk Management.

What You'll Learn

  • How Vendor Management Programs fit within Enterprise Risk Management
  • Vendor Management Program Components
  • Vendor Management Policy and Procedures
  • Vendor Due Diligence
  • Example of Vendor Risk Assessment
  • Monitoring and Reporting Assessment Results
  • Definition of Model Risk and How it Applies to Your Institution
  • The OCC SR Letter 11-7 – A Step-by-Step Explanation
  • Examples of Model Risk – How it Affects Your Institution
  • Example of Model Risk Assessment
  • How to Establish Your Own Model Risk Management Program

Who Should Attend

Vendor Management Program Managers, Chief Risk Officers, Risk Managers/Leaders, Chief Credit Officers, Chief Financial Officers, Compliance Officers, Internal Auditors, IT personnel, and Presidents involved in the risk management process and their ERM program will benefit from this session.

Marci Malzahn

Instructor Bio

Marcia (“Marci”) Malzahn is the founder and inspirational keynote speaker at Crowning Achievements International—inspiring and educating emerging leaders in the financial services industry. She is also the president and founder of Malzahn Strategic providing management consulting services to community financial institutions. Marci has 30 years of banking experience, ten of those years as the EVP/CFO/COO of a community bank she co-founded.

Marci speaks frequently at industry conferences and association events as well as leadership and women’s conferences; is a published author of five books, and the recipient of several professional awards. As a Certified Virtual Presenter, Marci also provides online and onsite training for financial institutions. Marci is a certified life coach and Certified Community Bank Director. She holds a B.A. in Business Management from Bethel University and is a graduate and faculty of the Graduate School of Banking in Madison, Wisconsin.