In this recorded webinar, Ncontracts CEO Michael Berman will discuss ways to develop a risk assessment framework that stratifies vendors based on their risk to the organization and consistency with your overall strategic objectives.
This recorded webinar showcases Ncontracts’ vendor management solution, Nvendor, an industry-leading platform that enables financial institutions to reduce compliance expenses, lower the risks associated with vendor relationships, and decrease vendor fees through a unique combination of software and services.
Just in time for Valentine’s Day, a new study has found that the Heartbleed Bug remains a serious problem for nearly 200,000 Internet-connected devices raising the question of how effectively your vendors are managing their patch updates. The Heartbleed Bug first made headlines in April 2013. It’s “a serious vulnerability in the popular OpenSSL cryptographic […]
Whether your financial institution has one branch or 1,000, your ability to maintain productive vendor relationships comes down to the quality of the vendor contract. This whitepaper is geared towards small- and mid-sized financial institutions looking to save money with better vendor contracts.
It’s bad enough to be hit with a regulatory consent order. Now imagine the expense and public relations nightmare when those proceedings drag on for years. Just ask Fidelity National’s subsidiary ServiceLink. This week the Fed, FDIC and OCC fined the company $65 million for improper actions taken by its predecessor company, Lender Processing Services, […]
Inertia is one of the greatest forces in the universe. Sir Isaac Newton dedicated the first law of motion to it: a body at rest will stay at rest unless an outside force acts on it. He was talking about physics, but he may as well have been speaking about human nature. People generally maintain […]
The Financial Industry Regulatory Authority (FINRA) is putting broker-dealers on notice that vendor management of cybersecurity will be a hot topic in 2017. In its Regulatory and Examination Priorities Letter highlighting areas FINRA plans to review in 2017 and “brief observations about common weaknesses we have observed while executing our regulatory programs,” the organization addressed […]
Self-help gurus tell us to name our fears in order to conquer them. This naming process helps us to understand why we are afraid and make us feel in control of the situation. Perhaps that’s why so many in financial services have embraced the term RegTech. Bankers and credit union executives frequently worry about falling […]
Bankers and credit union executives are always eager to find out what bank examiners want. It’s like there’s an answer key out there and if they ask around enough someone will hand them a copy. But regulatory exams aren’t multiple choice. They are (almost literally) essay questions, and regulators expect different answers from different institutions. […]
When most bankers and credit union executives think of concentration risk, they think of lending—but concentration risk has a different meaning when talking about third-party vendor management. Regulators are looking at two main concerns: Over-reliance on a single vendor & geographic concentration.