Tag: vendor management

Are Silos Stunting Your Risk Management Efforts?

When it comes to risk management, there’s a big difference between thorough and redundant. Thorough…

First, Second, Third, Fourth and Fifth Parties: How to Measure the Tiers of Risk

Everyone knows that third-party relationships introduce risk. But what about second parties, fourth parties and…

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…

Notifying Clients of Data Breaches: Which State Law Should We Follow?

Your financial institution is regulated by one state but has an office in another state.…

Should I Stay or Should I Go? Catch Third-Party Vendor Problems Before the Regulators Provide Notice of Violations

It looks like some Utah-based credit unions might be re-examining the risk of broker-dealer networking…

How to Respond When a Vendor Gets Hacked

A vendor data breach is a nightmare for any bank or credit union. From the…

When Your Vendor Says ‘Your Data Was Breached—Six Months Ago.’

What’s worse than a vendor that suffers a data breach that exposes your sensitive customer…

Are You and Your Vendors Ready for GDPR?

All may be relatively quiet on the regulatory front in the U.S., but this May…

3 Reasons Why Cybersecurity Ratings Are a Waste of Money

Investigating a vendor’s cybersecurity can be a time-consuming hassle. Wouldn’t it be nice if you…

How to Break Up with Your Vendor

How to Break Up with Your Vendor There may be 50 ways to leave your…