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Podcasts

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Venminder Creating a Culture of Compliance for Vendor Management podcast
Best Practices

Creating a Culture of Compliance for Vendor Management

Learn what regulators & senior gov officials in financial services had to say on creating a culture of compliance, why they strongly recommend it and what this entails.

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Venminder Risk Rating Every Vendor
Risk Assessment

Do I Have to Risk Rate Every Vendor?

One of the most frequent questions we get asked is, "am I supposed rate EVERY single vendor?" Learn why it's necessary to risk rate every vendor when conducting your vendor risk assessments and gather some tips.

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Venminder Board Reporting
Reporting

Vendor Management Board Reporting

The regulator guidance is clear - you must keep your senior management and your board informed on developments within your third party risk management program. Learn what this looks like.

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UDAAP – Unfair, Deceptive, Abusive Acts or Practices podcast
Regulations

UDAAP - Unfair, Deceptive or Abusive Acts or Practices

Learn about UDAAP - Unfair, Deceptive or Abusive Acts or Practices and the role of the CFPB and enforcement actions in the world of third party risk by listening to this informative podcast.

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Brand Names and Vendor Due Diligence
Due Diligence

Brand Names and Vendor Due Diligence

Sometimes people feel too comfortable with a well-known vendor. We cover why even vendors with recognizable brand names require thorough due diligence. No one is immune from third party risk.

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guidance on OCC Bulletins 2017-7 and 2017-21
Regulations

Guidance on OCC Bulletins 2017-7 and 2017-21

Learn key takeaways from two OCC Bulletins issued this year on third party risk management - OCC Bulletins 2017-7 and 2017-21. Is your institution's vendor management program in compliance?

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The Basic Concepts of Third Party Risk Management Framework
Third Party Risk Management

The Basic Concepts of Third Party Risk Management Framework

Listen to learn the basics of the third party risk management framework, including how it relates to enterprise risk management (ERM).

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vendor management podcast
Vendor Contract Management

Best Practices in Vendor Contract Management

Learn how to do proper vendor contract management. We'll provide best practices, the importance of contracts to your institution and what steps to take to protect your institution from contract risk. 

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Best Practices

7 VENDOR RISK ATTRIBUTES TO CONSIDER

Learn 7 key things you should do with every new vendor. These steps are essential to the vendor vetting process and determining how much you know about the company with whom are you planning to do business.

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how when and why to use a vendor information security questionnaire
Information Security

How, When and Why to Use an InfoSec Questionnaire

Learn the how, when and why of using vendor information security questionnaires for your third party risk management and how your due diligence process can benefit from it.

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CIA Triad Within Vendor Management
Information Security

CIA Triad Within Vendor Management

In this podcast, you'll learn how your vendor's approach to the CIA triad of information security impacts you and your customers. Being aware will help you against third party risk.

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Third Party Due Diligence
Due Diligence

Third Party Due Diligence

In this short vendor management video, you will learn four key points you need to know regarding third party due diligence and what items your due diligence checklist should contain to keep your institution safe from third party risk. 

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Understanding Vendor SOC Scope, Time and Narrative
SOC Reports

Understanding Vendor SOC Scope, Time and Narrative

Learn what the scope of a vendor's SOC report means and where to find it along with what typical audit periods are and a few questions to ask yourself while reviewing the narrative.

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7 Steps of Vendor Vetting Vendor Management Video
Due Diligence

7 Steps of Vendor Vetting

Learn the 7 key things you should do with every new vendor. These steps are essential to the vendor vetting process and determining how much you know about the company with whom are you planning to do business.

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Analyzing SOC Controls vendor management video
SOC Reports

Analyzing SOC Controls

In this vendor management video, you will learn where to find the controls section within a vendor SOC report along with what the control objectives and activities are and what to look out for in the findings and exceptions.

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Vendor Management Critical Vendors
Best Practices

Critical Vendors: What to Review

We cover the key questions you need to ask yourself to determine if your vendors are critical. Then, we dive deeper and talk about what you should review on your critical risk vendors.

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What is SSAE 18? Vendor Management
SOC Reports

What is SSAE 18?

As of Monday, May 1, SSAE 18 is now in effect. Are you familiar with SSAE 18 yet? Join us now as we talk about SSAE 18 - what it is and how it affects how you do vendor management at your institution. Let's get started.

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vendor management risk assessments
Risk Assessment

Vendor Management Risk Assessments

We’re going to talk through a few key things you need to know about vendor management risk assessments for your institution's third party risk management program. 

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10 steps to create your vendor list
Best Practices

10 Steps to Creating Your Vendor List

We’re going to talk through the 10 main steps you need to take to create your proper vendor list for your third party risk management program at your institution. Let's get started.

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third party risk vendor management errors video
Best Practices

10 Common Vendor Management Errors

It’s easy to get so deep in the weeds of your vendor management program that you make some pretty basic errors. Sometimes you need to take a step back and evaluate. Here are some of the ones that we see most often.

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Third-Party-Thursday-Video-Library-3-lines-of-defense
Responsibilities

3 Lines of Vendor Management Defense

You may have heard the term “three lines of defense”. But, what is a three lines of defense strategy? We'll go through those three lines of defense you have for vendor management at your financial institution.

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ERM vs Vendor Management
Best Practices

Enterprise Risk Management vs Vendor Management

We often get asked, "Is there a difference between an ERM and VM?" The answer is “YES” – they are different, but there are some areas of overlap as well. Learn about what some of the differences are.

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Lifecycle Approach to Third Party Risk Management
Best Practices

Lifecycle Approach to Third Party Risk Management

Third party risk management must flow in a lifecycle. We'll discuss how it's a constant evolutionary process rather than an annual static event - a core aspect that you should incorporate into your program.

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Third-Party-Thursday-Video-fundamentals-best-practices-vendor-management
Best Practices

Fundamental Third Party Risk Management Best Practices

We'll discuss fundamental best practices of third party risk management that you need to implement such as education, tailored ongoing monitoring, outsourcing and not cutting corners.

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Best Practices

Why Is There So Much Focus On Third Party Risk?

You have to do a lot for your third party risk management now... but why? We'll go through a few reasons for the increased third party risk management regulation and concern. 

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Best Practices

How to Write a Third Party Program

It should cite relevant regulations and guidance; it should describe its relationship to other parts of your compliance program and establish its importance as a foundational document for your institution.

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Best Practices

How to Write a Third Party Policy

A policy is the first main foundational third party risk management document you should have on file. Learn about key aspects in writing a proper third party policy for your financial institution.

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Third-Party-Thursday-Video-FFIEC-cybersecurity-assessment
Cybersecurity

FFIEC Cybersecurity Assessment Tool

The FFIEC released a Cybersecurity Assessment Tool. We'll go over in depth the benefits of it and why your financial institution should use it for your vendor management. 

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Contracts

Security & Confidentiality Provisions Which Should Be Addressed

Even though each vendor agreement includes different contractual terms, 5 security and confidentiality provisions should always be addressed. Let's go through them.

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Financials

When a Vendor Refuses to Provide Financials

When a third party company doesn't provide financial documents we tend to think there's nothing we can do. But actually, there is and we'll show you that alternate path in this video.

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SOC Reports

Importance of Complimentary User Entity Controls

Learn what Complimentary User Entity Controls are, how they're related to SOC reports, what you do with them, why they're important and more.

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Contracts

Mitigating Vendor Contract Risk

In order to have vendor management control, you must have a firm understanding or knowledge of third party vendor contracts. Learn the 3 pillars in managing them and other points about mitigating contract risk.  

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SOC Reports

5 Types of Vendor SOC Reports

So, what are the types of service organization control (SOC) reports and which type of SOC report did your vendors have performed? It can be confusing to keep track of them. To help, we'll briefly go through all 5 of them in this video.

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Due Diligence

Fourth Parties

So you're asking yourself right now, "What is a fourth party? I've just gotten my head around the whole concept of having third parties. And why are they important to my financial institution's vendor management program?" Let's discuss.

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Vendors Bank Credit Union cloud Computing
Information Security

Your Vendors and Cloud Computing

The Cloud has many benefits, but like everything, there are risks you need to consider. Protecting your institution’s data is ultimately your responsibility so you should know how your vendor safeguards it.

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Regulations

Evolution of Third Party Risk

In this video we’re going to talk a little about the evolution of third party risk management and the increased regulatory expectations on financial institutions. This will be helpful to know as you expand your third party risk knowledge.

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Business Continuity

Vendor Business Continuity and Disaster Recovery Plans

Ensuring your critical vendors can survive in disaster helps ensure your financial institution can also survive. Learn what Business Continuity & Disaster Recovery plans are & how our team reviews them. 

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SOC Reports

3 Key Points to Review In SOC Reports

Learn the 3 key points to review in service organization control reports, SOC reports for short, as you begin assessing your vendor's environment. Meet examiner requests and gain strategic business advantages.

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Third Party Thursday Video 5 Key Provisions Bank Credit Union Critical Vendor Contract
Contracts

5 Key Provisions to look for in your Critical Vendor Contracts

When reviewing and negotiating critical vendor contracts, consider many elements. Here's 5 key provisions to give special attention.

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Financials

Consequences of a Vendor's Poor Financial Performance

You report the vendor's financial health to senior management and board. What happens when the financial health is poor? We will go over the domino effect, the issue in the industry and what you can do about it.

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Regulations

FFIEC Appendix J and E

You should be familiar with Appendix J and Appendix E of the FFIEC guidance. We will go over what each of them are, what they mean and how your teams can stay informed on new vendor management guidance and regulations.

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Due Diligence

Defining Critical Vs. Non Critical Vendors

Do you know the difference between a critical and non critical vendor? Learn about defining them for your financial institution. We'll cover why it's important, the business impact, exit strategies and more.

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Best Practices

Defining the Scope of your Third Party Risk Management Program

You must define specifically who will be a part of your third party risk management program and also, equally important, who is out

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Third Party Thursdays what you can do now for next year
Best Practices

What you can do now to prepare for 2017

So, what can you do right now in preparation for next year? There’s actually quite a lot, depending on the maturity of your third party program. Watch this video to learn what you can do now to prepare for 2017.

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Third-Party-Thursday-Video-third-best-practices.png
Best Practices

Best Practices in Vendor Management

With all the vendor management industry changes and guidance updates, it's easy to get overwhelmed. In this video, we will talk about basic vendor management best practices to implement.

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Pillars of Bank Credit Union Third Party Risk Third Party Thursday Video
Best Practices

THE PILLARS OF THIRD PARTY RISK

Regulatory guidance sets out fundamental expectations. It’s important for the day to day management and exam standpoint that these pillars are in place and functioning in your institution. Learn more about these pillars.

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Cybersecurity

What's In the News Matters

Vendor management is covered a lot more in industry news now. It's hard to keep up, and sometimes tempting not to try. This video mentions recent examples of important items covered.

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