CLA to Instruct Vendor Management Seminar for ICBA
In a financial environment wrought with strong enforcement actions, rising regulatory expectations, and massive data breaches, community banks must understand and manage a secure network of relationships to ensure customer data, bank transactions, business activity, and shareholders are protected. Relationships with third-party vendors are commonplace and many provide a strategic advantage; however, the rewards aren’t without risk to financial institutions. Intense regulatory scrutiny and variations in third-party service application are challenging the risk management practices utilized by today’s community banks.
On August 23rd and 24th, CLA will instruct a seminar along with ICBA, which will assist community banks in navigating the critical considerations needed to effectively implement a sound vendor management program. Whether you are a seasoned risk management professional or new to your role, this program will highlight key efforts needed by all community banks to ensure prudent risk management, while also achieving bottom-line results.
Participants will examine the vendor management lifecycle and discuss:
- Effective strategies for vendor selection
- Evaluating risk associated with service providers
- Guidelines for structuring your vendor agreements
- Methods for monitoring and measuring success of your third-party vendors
Throughout the seminar, practical advice and guidance will be shared including:
- How to remove the guesswork related to employee responsibility and vendor management
- Key compliance considerations to monitor service provider relationships
- New policy, procedures, and retention strategies
Clients of CLA can enter the promo code “CLA100” to receive $100 off the registration for this conference. Should you have any questions, please reach out to Sherry Jessen (Sherry.Jessen@CLAconnect.com) or Joshua Juergensen (Joshua.Juergensen@CLAconnect.com).
Registration for the event can be found here: https://myicba.icba.org/eWeb/DynamicPage.aspx?WebCode=EventInfo&Reg_evt_key=7670480b-bc94-4b8c-9b1d-8cac99f1bbcf&RegPath=EventRegFees
Joshua Juergensen is a principal with CLA. He works with banks and credit unions nationwide, managing audit engagements, directors’ exams, external loan file reviews, internal audits, and other consulting services.
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