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Dec 31, 1969 by

Examination Preparation

6 Steps to Developing a Successful Internal Vendor Management Audit Program

Nov 21, 2018

Internal audit programs are important as they can help identify gaps and areas that may have been overlooked. It’s important to understand the basic steps to a successful internal vendor [...]

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Examination Preparation

Vendor Oversight: 5 Easy Steps to Plan the Annual Audit Schedule

Sep 4, 2018

Based on a few industry surveys, the #1 vendor risk management challenge facing organizations is TIME. Plan and execute early on the steps below and you’ll be on your way to performing audits and [...]

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Examination Preparation

SEC Exams Emphasize Vendor Risk Management

Aug 21, 2018

The Securities and Exchange Commission, or SEC, oversees securities transactions, financial professional activity, mutual funds and more to protect investors, prevent fraud and deception and [...]

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Examination Preparation

Four Keys to Managing Third Party Risk

Jul 20, 2018
One of the biggest risks facing the U.S. financial system is third party risk , according to the OCC’s   Semiannual Risk Perspective for Spring 2018   released at the end of May. Banks also cite [...]
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Examination Preparation

8 Items to Have Ready For An Examiner's Arrival

Jul 18, 2018

I'm often asked what sort of things a third party risk or compliance manager might be asked to have ready for an examination that's going to touch on third party risk management. Well, there's [...]

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Examination Preparation

7 Elements to a Proper Internal Audit Program for Vendor Risk Management

Jul 17, 2018

Having an established internal audit program at an organization is a great way to identify and discover gaps or items that may have been missed before, such as a disconnect between your vendor [...]

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Examination Preparation

6 Reasons to Follow Up on Vendor Management Exam Items

Dec 6, 2017

At the conclusion of any examination or audit, there are always some open items. No one truly enjoys having a detailed re-hashing of areas of concern, but it’s an important conversation to have.

[...]

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Examination Preparation

What Will Examiners Ask Related to Vendor Risk Management?

Nov 15, 2017

A common question we hear is “How do we know what the examiners will ask related to vendor risk management?” It’s one that does not lend itself to an exact and easy answer. However, there are many [...]

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Examination Preparation

Prove It or Lose It! Update Your Vendor Management Policies and Procedures

Oct 10, 2017

If like me, you have had the opportunity to be examined by a regulator and survived, you’ll recognize the need to supply a copy of your vendor management policy and procedure documentation. The [...]

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Examination Preparation

5 Things to Do to Be Proactive In Vendor Management

Jul 19, 2017

If you had an examination starting tomorrow, would you be ready? If one of your critical third parties announced it was ceasing business, would you be prepared? If there’s a big data breach at one [...]

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Examination Preparation

15 Tasks for When A Vendor Management Examiner Comes to Town

Jun 21, 2017

The examiner is coming, the examiner is coming!

DON'T PANIC! Seriously, there’s no need if you’re running a well-managed program. Let’s go through some of the key things you’ll want to do to plan [...]

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Examination Preparation

UDAAP Violations Show Vendor Management Programs Still Need Work

Mar 22, 2017

If you don’t read anything else this week on vendor management, read this! Recent studies by Protiviti and Crowe Horwath show that vendor risk management maturity has improved significantly, but [...]

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Examination Preparation

Good & Bad News About the State of Vendor Management In 2017

Feb 22, 2017

How are financial institutions handling vendor management for 2017? After surveying over one hundred people, we have good and bad news to share, data to back it up and how to make the bad news [...]

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Examination Preparation

CFPB Exams for Non-Bank Lenders & How to Leverage as a Vendor Oversight Function

Feb 7, 2017

Banks, credit unions and non-bank lenders have all been audited in some fashion by state or federal regulators during their lifetime. In recent years, the CFPB (Consumer Financial Protection [...]

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Examination Preparation

Exam Preparation: Have These 8 Vendor Management Items Ready

Jan 25, 2017

You should prepare for an exam before you're officially given notice of it. There are items to have ready ideally 3 or 4 months before any potential exam window.

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Examination Preparation

Board Vendor Management Involvement Is Needed & Required

Nov 30, 2016

If you’re a senior manager or a member of a board of a financial institution, you must be directly involved in many things, including vendor management. If there was any doubt about that, the OCC [...]

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Examination Preparation

17 Vendor Management Horror Stories

Oct 26, 2016

Vendor management doesn't always go smoothly, and sometimes can get quite frightening. In the spirit of Halloween, check out these 17 vendor management horror stories followed by ways to stop or [...]

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Examination Preparation

Budget Time. Take an Examiners Advice - Remember Vendor Management

Sep 8, 2015

While talking to a prospect recently, he shared a comment that his examiner made from a recent exam. It went something like this:

You need to put away the manual spreadsheets and look into a [...]

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Examination Preparation

What are your Bank or CU's Vendor Management Challenges?

Apr 9, 2015

Vendor management has many challenges, but what are your peers saying is their biggest challenge?

We asked a group of financial professionals just what their biggest vendor management challenge is [...]

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