Could third-party vendors be putting your financial institution at risk? Following the recent financial crisis, a number of government agencies – including the Office of the Comptroller of the Currency (OCC), the Consumer Financial Protection Bureau (CFPB), and the Federal Financial Institutions Examination Council (FFIEC) – have increased regulatory scrutiny for outsourced services. And the penalties for non-compliance could be severe.
Clark Schaefer Hackett’s Jim Conley and Clark Schaefer Consulting’s Sarah Ackerman can help you comply with these regulatory requirements, and provide strategies to help keep your assets, client data, and organization safe.
Topics:
• How the Office of the Comptroller of the Currency defines third-party vendors
• How to identify which vendors support critical activities
• The categories of third-party vendor risk
• How to streamline risk management for low-risk relationships
• How to identify high-risk vendor relationships
• The importance of routine monitoring of high-risk vendors
