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Third-party risk represents one of the biggest potential risk factors for financial institutions today. With tightened regulatory standards and heightened cyber risks, regulators are examining more deeply and it’s not enough for banks to simply “check the box” on performing due diligence or oversight. Understanding how to apply a comprehensive and disciplined approach for meeting compliance requirements remains a challenge for financial institutions, big or small. This webinar will provide practical strategies to help overcome these challenges.


Third-party risk represents one of the biggest potential risk factors for financial institutions today. With tightened regulatory standards and heightened cyber risks, regulators are examining more deeply and it’s not enough for banks to simply “check the box” on performing due diligence or oversight. Understanding how to apply a comprehensive and disciplined approach for meeting compliance requirements remains a challenge for financial institutions, big or small. This webinar will provide practical strategies to help overcome these challenges.


 

● How to operationalize vendor management: evolving your team from data collectors to risk manager

● Understanding and applying third-party risk profiles and tiering to vendor relationships

● Determining effective risk and mitigation strategies

● Key requirements for program benchmarking and operation metrics


● Critical contract terms to leverage control and mitigate risk

● Managing Service Level Agreements

●  Key regulatory requirements and the vendor management lifecycle


  • CCOs
  •  Vendor Managers
  •  Acquisition Staff
  • Procurement Officers
  •  CIOs
  •  IT Directors
  •  COOs
  •  CTOs
  •  Senior IT managers


Dena Somers provides regulatory compliance and risk management consulting services to financial institutions and companies in highly regulated industries nationwide. She is the Founder and CEO of Finreg Partners and has broad expertise advising clients in a variety of regulatory sectors including consumer lending, mortgage lending and servicing, bank AML/BSA compliance, and specialty finance lending. Previously, Dena served as General Counsel/Chief Compliance Officer to a national mortgage servicer, registered money service business, early-stage marketplace lender and MCA affiliate, and national non-bank mortgage lender. Dena has authored several publications for LexisNexis Sheshunoff® in the areas of credit and loan administration, bank compliance, and bank teller training, and provides guidance to top-tier firms on financial services regulation as an attorney author for Lexis Practice Advisor®. Additionally, Dena provides both in-house and industry training on best practices for managing high risk areas such as information security, cyber risk management, OFAC and AML compliance, and third party risk management. Having built and remediated numerous compliance management programs, Dena is proficient at developing operationally efficient CMS programs.

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