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Third Party Vendor Risk Assessment for Financial Firms: Rules, Regulations and Best Practices
- Rules, regulations and best practices concerning third party risk assessment
- Determination of the third parties
- The questions to ask third parties
- Best practices for monitoring the progress of the assessment
- Suggestions on the documentation of the assessment
- Educating existing third party vendors on why this type of due diligence is being conducted
Overview of the webinar
This training program will examine who are third party vendors and analyze why it is critical to prepare a risk assessment for third parties. The course will also offer an overview of the potential risks a third party vendor may impose on your firm.
Who should attend?
- Auditors
- Compliance Personnel
- Risk Managers
- Operations Managers
- Chief Operating Officers
- Attorneys
- Investment Management/Portfolio Managers
- Client Service Managers
- Accountants
- Chief Operating Officers
- Chief Executive Officers
- Financial Planners
- CPA Firms
Why should you attend?
On September 15, 2015, the Office of Compliance Inspections and Examinations (OCIE) issued the 2015 Cybersecurity Examination Initiatives. One of those initiatives relates to how financial firms are conducting due diligence reviews of their vendors. Many firms are not prepared to conduct this type of due diligence on the firms they partner with. Many of the third-party vendors, such as the firm’s CPAs, program providers and outsourced IT firms may not even realize they are subject to this type of scrutiny from their clients, or even understand how to answer their questions. With cyber security and privacy issues being an on-going area of concern for all areas of finance, the third party vendor and risk assessment will be a focus of regulatory exams as well as a significant business process for years to come.
Faculty - Ms.Lisa Marsden
Lisa M. Marsden is the President and Founder of Coulter Strategic Services. Coulter Strategic Services provides financial advisors and consulting firms with Compliance and Project Management services. Prior to creating Coulter Strategic Services, Ms Marsden was a shareholder and member of the C-Suite for Financial Advisors in Boca Raton Florida. She has been in the financial services industry for over 25 years. Ms Marsden has a degree in Computer Programming from Keiser University and holds the Investment Advisor Certified Compliance Professional Designation and Claritas ® Investment Certificate. She also held positions in the Banking Trust Industry at Midlantic National Bank and Trust, Comerica Bank & Trust and Barnett Bank Asset Management. Ms Marsden has moderated regulator panels and conducted many webinars related to compliance training.