Recorded: September 24, 2015

Length: 60 Minutes

The value that third party service providers (TSP) bring can quickly be eroded by the associated cyber risks, and the FFIEC expects that TSPs be subject to the same risk management, security, privacy, and other requirements - as if the financial institution were conducting the activities in-house. Regulatory expectations related to cyber resilience as well as the additional complexity inherent in using multiple TSPs require more diligence by financial institution management.

In this three-part series, you'll learn how to effectively manage TSPs, reduce cyber risk, and ensure compliance with a variety of regulations, including the new Appendix J of the BCP Service Booklet.

Changes in regulations for vendor management have resulted in new monitoring requirements. In Part Three, we'll delve deeply into advanced techniques for monitoring vendors and what constitutes an effective monitoring program.

Topics addressed:

• How do the recent and upcoming changes in regulations affect my vendor management program?
• How do I address my vendor's VM program?
• What monitoring changes are required for SLAs?
• What assistive tools are available?
• How to review SOC reports.

1 CPE Credit

Program Level: Basic-Intermediate

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