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Outsourcing Tech Services: Regulations, Examiner Expectations & Actions for Vendor Management

From selecting the best available vendor, to identifying and correcting performance issues, this presentation will examine the practical and regulatory requirements for managing third-party tech relationships and the operational details of creating an effective vendor problem-resolution program.

Jul 24, 2019 02:00 PM   -­­  Jul 24, 2019 03:30 PM
CT
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Type of Event
On Demand Webinar

Who Should Attend
  • On-Demand Webinars
  • Live Webinars
  • IT
  • Executive
  • Compliance

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Description

All financial institutions rely on third-party technology vendors to enhance operations and efficiency. Regulators agree that the board and senior management are responsible for managing the increased risk of outsourced technology. From due diligence to damage control, from contracts to constant oversight, your institution must have an effective system to identify, incorporate, and manage the many risks and opportunities offered by rapidly expanding technology.

Every time a critical vendor is used, you are handing over the keys to your kingdom. Some of the most sensitive borrower information, financial resources, and core business processes are entrusted to third-party vendors. If something goes wrong, your institution will be held accountable. Considering how much of your budget is allocated to vendors, you must ensure good performance, while satisfying increased examination scrutiny. From selecting the best available vendor, to identifying and correcting performance issues, this presentation will examine the practical and regulatory requirements for managing third-party tech relationships and the operational details of creating an effective vendor problem-resolution program.

Learning Objectives

  • Designing an effective technology vendor management process
  • Regulatory notification and oversight requirements
  • Critical timelines for critical tech vendors
  • What to do when a problem arises
  • Creating solid staff oversight and quality control
  • Five things your tech vendor does not want you to know

Speaker

David A. Reed, JD, Reed & Jolly, PLLC

Investment

$259.00