Enterprise Risk Management
This course will cover the nuances of a solid vendor-management program. The course will outline the basic components of a program and regulatory requirements that govern this area of credit union operations.
This course is designed for compliance professionals, CEOs, and CFOs.
By the completion of this course, participants will have:
- Developed a comprehensive knowledge of FFIEC guidelines relative to vendor management
- Learned how to assess which vendors have the most critical need for review as well as who should review them and how often they should be reviewed
- Learned how to develop a checklist of items that need to be monitored
- Gained an understanding of vendor types and how they are categorized
- The differences between centralized and decentralized programs
- Vendor management tools
- Identifying vendors with the most critical need for review
- Ongoing requirements for vendor reviews
- Reporting and communicating critical events