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Compliance

 

Webinar: Vendor Contract Lifecycle Management: Risk, Compliance, Securing, Terminating & More

 

Tuesday, March 18, 2014

2:00 - 3:30 pm CST

 

Speaker: Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne, LLP

 

Credit unions use a wide array of vendors to perform daily services. Managing vendor relationships is becoming more difficult and regulators are placing more emphasis on the security of member information and the potential risk of vendor nonperformance. Every credit union is now required to maintain a written vendor-management program. This webinar will thoroughly explain the elements of an effective vendor-management program, including risk assessment, due diligence when selecting vendors, contract review and structuring, vendor monitoring, and termination. It will also address your credit union’s potential liability for the vendor’s performance and the relevant accounting rules.

 

HIGHLIGHTS

  • Regulator expectations of the credit union’s vendor compliance management program
  • Assessing risks imposed by the vendor relationship
  • Due diligence process in selecting the vendor
  • Contract negotiation: what terms should be included and the things to avoid
  • Effective, ongoing monitoring and evaluation of the vendor


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