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Download the whitepaper:

Vendor's Keeper: How to Make Sure Your Third-Party Vendors Aren’t Creating a Compliance Nightmare

Your financial institution is doing everything it can to remain compliant with applicable laws and regulations, but what about your third-party vendors? Regulators make no distinction between violations committed by a third-party vendor working on your behalf and your own institution. The only way to protect your FI from vendor compliance missteps is by making vendor management a critical element of your compliance management system (CMS).

This whitepaper will explore the overlap between compliance and vendor management, offering strategies and best practices for mitigating the compliance risk of third-party vendors. We’ll address:

Vendor compliance failures that resulted in enforcement actions and financial penalties
Vendor compliance failures that resulted in enforcement actions and financial penalties
How to work with your vendors to confirm that they’re in compliance
How to work with your vendors to confirm that they’re in compliance
Best practices for reducing third-party compliance risk
Best practices for reducing third-party compliance risk
What the examiners will be looking for regarding vendor compliance oversight
What the examiners will be looking for regarding vendor compliance oversight
Guarding against vendor privacy and data breaches
Guarding against vendor privacy and data breaches

 

Don’t let a vendor’s missteps land your FI in hot water. Join us as we delve into the intersection of compliance and vendor management and what it takes to protect your FI from the reputational, financial, and regulatory risks of vendor compliance violations.