Vendor management is currently a hot topic for examinations. Outsourcing places confidential customer information in someone else’s hands, but you still retain responsibility for ensuring the integrity, confidentiality, and security of the information. A key area of the vendor management program is ongoing oversight over Technology Service Providers (TSPs)..
On November 1, 2012, the FFIEC released updated guidance for examining TSPs. The revised TSP Booklet discusses the regulators’ authority to oversee third-party vendors and outlines the agencies IT rating system. It also stresses that a financial institution’s board and management have the ultimate responsibility for ensuring outsourced activities are conducted in a safe and sound manner and in compliance with applicable laws and regulations. While this Booklet is primarily directed to TSP examinations, the Outsourcing Technology Services Booklet, which focuses on regulatory expectations for your vendor management program, was updated to include Appendix D: Managed Security Service Providers. This webinar will provide an overview of the vendor management program, address the importance of reviewing the TSP regulatory examination and review the new Appendix D.
- Why you need a program
- Key elements of an effective program
- Risks of not having a comprehensive program
- Revised TSP Booklet
- Appendix D: Managed Security Service Providers
Risk Managers, IT and Operations Managers, Compliance Officers, Auditors and any one charged with vendor oversight.
Susan Orr, CISA, CISM, CRP, CRISC, is an industry expert with vast regulatory, risk management, and security knowledge. During her 14-years as bank examiner, Susan held numerous lead positions including Regional IT Examination Specialist, Special Assistant to the Regional Director, and Special Assistant to the Vice Chairman of the FDIC. Susan was lead instructor for the FDIC’s technology school. She currently consults for security providers and performs IT security/regulatory reviews for financial institutions.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2.5 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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