This seminar will assist community banks in navigating the critical considerations needed to effectively implement a sound vendor management program.
Community banks may outsource a service, but they cannot outsource the responsibility. In a financial environment wrought with strong enforcement actions, rising regulatory expectations, and massive data breaches, community banks must understand and manage a secure network of relationships to ensure customer data, bank transactions, business activity, and shareholders are protected.
Relationships with third-party vendors are commonplace and many provide a strategic advantage; however, the rewards aren't without risk to financial institutions. Intense regulatory scrutiny and variations in third-party service application are challenging the risk management practices utilized by today's community banks.
Learning Objectives:
9:00 a.m. – 12:00 p.m.
Vendor management defined/stakeholder responsibilities: C-level, management, legal, IT, security, and HR/exercises 1 – vendor risk assessment exercise
12:00 p.m.- 12:30 p.m.
12:30 p.m. - 4:30 p.m.
Threats and risks related to vendor management/risk mitigation/SOC review demonstration: results, user entity controls, bridge letters, etc./exercises 2 – SOC review exercise
9:00 a.m. - 12:00 p.m.
Vendor contract/ensuring an effective service level agreements/ OLAs and underpinning contracts/exercises 3 – contract review exercise/third-party risk management/recent changes and impact/Q&A
Early Bird Price (ends July 7, 2023): $595
ICBA Members: $695
Non-Members: $795
Bank Director Program Member: $495
Bank Director Program Non-Member: $595
For more information, call 800-422-7285.
Upon registration you will receive an email from ICBA confirming your registration, the dates of the event and a calendar invitation for the event. Approximately 1-2 weeks prior to the event start date, you will receive an email from an ICBA representative containing detailed information including event times and the meeting link.
Who should attend: Risk Mgt, Vendor Mgt, C-Suite, Directors
Prerequisites: Basic knowledge of vendor selection and management
Advanced Preparation: None
Program Level: Intermediate
Field of Study: Specialized Knowledge
Delivery Method: Group Internet Based
CPE Credit Hours: 12
Manager, CLA
Manager
CliftonLarsonAllen, Minneapolis
Registration, attendance, or participation at this event constitutes an agreement to adhere to the ICBA code of conduct and complaint policy. ICBA aims to be welcoming, safe, and inclusive to all participants, with the most varied and diverse backgrounds possible.
As such, The Independent Community Bankers of America (“ICBA” or the “Association”) has adopted a zero-tolerance policy toward all forms of unlawful discrimination and harassment.
Suitcasing is the act of soliciting business by non-exhibiting companies in the during the event or in other public spaces, including another company's booth, a convention center, or a hotel lobby. It is ICBA event management’s objective to do everything legally possible to protect its exhibitors and community banker attendees from suitcasing.