Best practices dictate that the board must remain vigilant about hazards posed by outsourcing functions to third parties – or risk significant financial and reputational harm to their financial institution. This session will provide an overview of the key components of a comprehensive vendor management program and the vital role senior management and the board must play. You’ll learn what board members need to understand about third-party risk and what should be expected regarding regular reporting and direct oversight. From risk assessments, to due diligence, to contract management, this webinar will address emerging trends in third-party risk and how they relate to the fundamentals. In addition, you will learn about regulatory guidance, recent enforcement actions, and new areas of focus that can be third-party related – particularly UDAAP.
- What board members need to understand about third-party risk
- Key components of a comprehensive vendor management program
- Regulatory guidance and recent enforcement actions
- Board’s role in ensuring compliance
- New areas of focus that can be third-party related – particularly UDAAP and cyber security
- Why this topic should remain top-of-mind at every board meeting
ABOUT THE PRESENTER – Branan Cooper, Chief Risk Officer, Venminder
Branan Cooper is the Chief Risk Officer at Venminder. He has over 25 years’ experience in the financial industry with a focus on the management of internal processes and controls – most notably in third-party risk and operational compliance. Branan joined Venminder from Bancorp Bank where he was senior VP and Director of Third-Party Risk Management. He has held similar positions with PartnersFirst, the credit card division of Western Alliance Bancorp, and at MBNA America. A frequent speaker at industry events, Branan received his Bachelor’s from Duke University and completed the Graduate School of Retail Bank Management and the ABA’s Graduate School of Compliance Management.
Originally recorded May 11, 2017.
Recorded webinar link is available until December 31, 2017.
Free Digital Copy included with purchase to download and view beyond link expiration date.
Price includes sales tax.