Third-Party Risk Education

Listen as we discuss seven vendor risk management expectations for 2019, what to focus on and tips for each. Topics include cybersecurity, increasing regulatory requirements, compliance concerns, the OCC fintech charter, changes in political landscape, GDPR and responding to change in general.

Listen to our exclusive interview with Ashley Kelley, VP of ERM at Atlanta Postal Credit Union, as part of our Thought Leadership Series where we talk with many of the industry's sought-after leaders to discuss third party risk management.

Listen to this interview with Ashley Kelley for discussions on:

A credit union expert's perspective on third party risk management overall

Centralizing third party risk management - why it can be a struggle but is very needed

Insight from the VP for the International Association of Financial Crimes Investigators (IAFCI) on cybersecurity expectations and concerns

A well-developed policy, program and procedure documents are all crucial to the success of an organization’s third party risk management department. Listen for some quick tips to help you develop, or revamp, your third party policy, program and procedures.

SOC reports differ based on what they cover, how the auditor performs the assessment and level of detail. This way, the vendor can avoid each client performing their own audit of the vendor’s system. Listen now to learn the differences between a SOC 1 and SOC 2 report and Type 1 and Type 2.

If done right, third party risk management is a strategic advantage. It’s an expense but also the best way to defend your company when risk is posed. In this podcast, we'll go through 10 reasons to consider your third party risk management department/program when budgeting for the upcoming year.

This interview covers an auditor's perspective on how organizations are addressing third party risk management, best practices for managing risk, addressing today's cybersecurity threats and risks, top areas of concern for a SOC audit report, the importance of your subservice vendors (aka your vendor's vendor or fourth party), pre-contract considerations, vendor oversight and how vendor risk management training at the board level helps.

When budgeting for the upcoming year, its a best practice to consider the costs associated with negotiating key contract terms and pricing. Listen as Venminder CFO, Mike Campbell, covers 5 vendor contract considerations for your 2019 budget.

Learn how FFIEC’s Appendix J relates to your vendor risk management program, four key elements of business continuity planning that you should address when contracting with a third party service provider and our recommendations to best incorporate Appendix J into your vendor risk management program.

As a fintech provider, your third party risk management process will become well-developed and more organized by following these 5 best practices. In turn, your clients will feel much more at ease when selecting you as their preferred vendor of choice to continue doing business with. It’s a win for both parties. Listen now.

We know that vendor vetting and ongoing monitoring are both important stages of the vendor lifecycle and due diligence process, however, why exactly is due diligence so important for vendor risk management? Listen to learn the top 5 reasons.