Managing Risks with Third-Party Relationships
The OCC has issued new guidance on managing the risks third-party relationships. This webinar will help you understand the guidance and discuss methods to help mitigate the risks.
It is important to assess and address the risks associated with outsourced technology services. The OCC has issued new guidance on managing the risks of these third-party relationships. This webinar will help you understand the guidance and discuss methods to help mitigate the risks.
Services provided by third-party companies are an integral part of today’s business environment. It is important for the users of these third-parties to assess and manage the possible risks associated with using third-party relationships. A third-party relationship is any business arrangement between a financial institution and another entity, whether it is by contract or otherwise. Regulators expect financial institutions to perform risk management activities regardless of whether the financial institution performs the activity internally or through a third party. Risk management activities are performed throughout the relationship with the third-party.
- How to perform due diligence when selecting a third-party
- Contracts for third-party services
- Monitoring of the third-party relationship
- Planning for terminating third-party relationships
- Identifying roles and responsibilities for managing the third-party relationship
- Managing the third-party risk management process
Chief technology officers, information security officers, CFOs, compliance officers, risk managers and auditors at third party service providers or user entities of third party service providers
Durward J. Ferland is a Client Services Director at Macpage LLC and leads the firm’s Information Assurance Services group. He has expertise and knowledge in all areas of IT-related internal controls. Durward regularly performs SOC Examinations, IT General Control Reviews and Readiness Assessments at clients including financial institutions, insurance companies, service bureaus, and data centers. He performs technology auditing in all areas of IT-related controls.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2 hours/session CRCM/CFSSP
Member price: $265.00 | Non member price $530.00
Member price: $280.00 | Non member price $560.00
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