How to Discover Vendor Cybersecurity Flaws Before Data Thieves Exploit Them
How do you know if a cybersecurity rating is covering all the bases? Make sure it monitors these key areas...
The Bad Guys Keep Getting Smarter. Let’s Hope Financial Institutions and Vendors Can Keep Pace.
Cyber criminals are growing increasingly clever.Just consider what happened to Tampa Bay Credit Union recently...
Third-Party Management of Cloud Computing
While 'the cloud' may seem mysterious to the layperson, there shouldn’t be anything secretive about your third-party vendors’ cloud use. If your vendor
Is Apple Pay a Vendor?
Apple Pay is not a direct vendor. This raises an interesting question. Should financial institutions (FI) using Apple Pay have to review Apple as a vendor?
NCUA Eyes Economic Environment, Change Management & Third-Party Risk With 2019 Supervisory Priorities
The NCUA has made adjustments to its Supervisory Priorities for 2019 - emphasizing controlling risks, including a new focus on third-party risk management.
Examiners Will Be Focusing on Your Institution’s Riskiest Areas. Do You Know What They Are?
In the FFIEC Press Release, dated 11/27/2018, the FFIEC provided a more formal idea of what a “risk-based exam” looks like and the factors that will help
Ncontracts Receives Endorsement from the Florida Bankers Association for Contract Management
Ncontracts is thrilled to receive the endorsement of Florida Bankers Association for contract management.
What Is VMS
VMS stands for vendor management software. A VMS is an internet application that is designed to give organizations the tools they need to use
OFAC, Cyber Risk & Third-Party Vendors: What You Need to Know
Bankers know they shouldn’t do business with parties sanctioned by the OFAC - as the agency has reminded us in its most recent statement on sanctions and
Vendor Risk Management
Vendor risk management is a process that aims to deal with the risks associated with working with vendors. This process begins when the company is first
Sharing BSA Resources with Another Institution? Third-Party Vendor Management Rules Apply
Regulators have given financial institutions a green light for sharing BSA resources in some situations, but proper third-party vendor management practices
Discovering a Vendor Data Mistake: A Lesson from the Fiserv Flaw
Have you ever swapped out a number or letter in a URL to skip to another page? Cybersecurity researcher and ethical hacker, Kristian Erik
Is Your Third-Party Vendor Contract Specific Enough When It Comes to Cybersecurity?
If you’re assuming your third-party service provider is following cybersecurity best practices because it’s smart business, think again...
Risk & Vendor Management: The Role of Committees vs. Departments
When it comes to risk and vendor management, both the board and management have specific roles to play, but where do committees and departments fit in?
First, Second, Third, Fourth and Fifth Parties: How to Measure the Tiers of Risk
The importance of vendor risk management extends beyond third-parties. Take a look at the other parties involved and the potential risks they pose.
OCC: Third-Party Providers Contribute to 'Elevated' Operational Risk
Could a third-party provider be the weak link in your institution’s operations? It’s possible, according to the Office of the OCC
Third-Party Vendor Breach Costs Texas Credit Union
A Texas credit union has found itself dealing with the expensive consequences of a third-party vendor breach, it announced to members last week.
"Deficient Vendor Management Practices" Result in $1.5 Million Fine
Missouri bank slapped with fines for what the OCC calls \"deficient vendor management practices.\" Here's what happened and how you can avoid similar fines
Will Your Vendors Fall Victim to Ransomware and Other Cybersecurity Threats?
63% of cybersecurity breaches occur through third-party vendors. That's why it's vital that your vendor management process protects you from threats.
OCC Vendor Management: What the OCC Really Wants
You just found out you're getting a visit from the OCC. Vendor management is suddenly top priority what do they want? This is the resource you need to read
Warning Ahead: Many Vendor Contracts Are Missing Essential Internal Controls
The phrase “internal controls” is closely associated with accounting, but these valuable tools are also an integral part of risk management.
OCC: Marketplace Lenders Are Third-Party Vendors
The OCC says marketplace lenders are third-party vendors. How does that affect your risk exposure? We look at how you're affected in this blog post.
Documentation is Key: Takeaways from the OCC’s Third-Party Vendor Risk Management Procedures
Ever wish for a list of exactly what an examiner is looking for? When it comes to the OCC and vendor management, your wish has been granted.
Are Your Third-Party Vendors Protecting the Rights of Servicemembers?
America’s armed forces protect our country—and the financial services industry is supposed to do the same for servicemembers.
What is Vendor Management?
If you've ever wondered, what is vendor management exactly, we've broken it down to help you understand if vendor management is right for you.
When Third-Party Vendors Mean Quadruple the Risk
Financial institutions outsource to be efficient. Whether it’s offering competitive products and services or making good use of staff resources,