Live Webinar
The Difference Between Inherent and Residual Vendor Risk
Tuesday, September 17, 2024 | 11am ET | 1 Hour
Vendor risks are always present, and you can never completely eliminate them, but it’s possible to reduce the likelihood, occurrence, severity, and impact of those risks through solid risk management practices and controls. Inherent risk is the level of risk present in any vendor engagement before any controls are put in place, while residual risk is the risk that remains after mitigation efforts are made and controls have been verified. It’s true that you can’t have inherent risk without the residual risk; however, they each serve a distinct purpose.
Join us for this session where we’ll discuss what inherent and residual risks are, how to determine them, and how they are applied in third-party risk management.
Register now to learn:
- The difference between inherent and residual vendor risk
- Determining inherent risk
- The role of due diligence
- How to properly apply residual risk
- Risk handling techniques
- Key takeaways
Speaker
Kelly Vick
President
Kelly is a proven leader with more than 30 years of experience in the financial industry. Kelly directs the Venminder team in product strategy and management, customer success and customer support. Prior to Venminder, Kelly held the position of COO at iPay Technologies where she led all support teams including Client Implementations, Client Support- and Payee and Payment Support. Kelly also held positions as Chief Administrative Office including Human Resources, Facilities and Finance. Kelly earned her Bachelor of Business Administration degree with a concentration in Accounting from the University of North Florida.
Program Level: Basic
Duration: 1 Hour
Prerequisites: None
Who Should Attend: CEOs, CFOs, Compliance, Risk, BOD, Vendor Management, CPAs
Advanced Preparation: None
Delivery Method: Group Internet Based
Refunds: This is a free event.
Cancellations: In the event that this session would need to be cancelled, you will be personally contacted and registered for the rescheduled event.
Concerns: For more information regarding administrative policies such as complaints, please contact our offices at +1 (888) 836-6463.
Information
Field of Study: Specialized KnowledgeProgram Level: Basic
Duration: 1 Hour
Prerequisites: None
Who Should Attend: CEOs, CFOs, Compliance, Risk, BOD, Vendor Management, CPAs
Advanced Preparation: None
Delivery Method: Group Internet Based
CPE Eligibility: Because this is an on-demand event, unfortunately, it is not eligible for CPE credits. All live events are eligible for 1 CPE credit per hour.
Refunds: This is a free event.
Cancellations: In the event that this session would need to be cancelled, you will be personally contacted and registered for the rescheduled event.
Concerns: For more information regarding administrative policies such as complaints, please contact our offices at +1 (888) 836-6463.
CPE Credit Eligibility
This session is eligible for 1 CPE Credit – you must be in attendance for the entire LIVE session, answer all three polling questions during the event, and complete the post-event survey. CPE Credit will be offered within 7-10 business days following survey submission.
Venminder is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor on continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE Credit. Compliance regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.