Third Party Vendor Risk Assessment for Financial Firms - Rules, Regulations and Best Practices

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.

Learning Objectives:

• Who are third party vendors?
• Why it is critical to prepare a risk assessment on the third parties?
• An overview of the potential risks a third party vendor may impose on your firm.
• What those risks could mean for the end-clients, the investors.
• Ways to work with the third party vendors to help mitigate the risks.
• Types of questions to ask third party vendors in order to facilitate risk assessment.

Areas Covered in the Webinar:

• 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
• Creating policies for onboarding new third party vendors
• How to select a background firm and audit your current screening practices

Who Will Benefit:

• Audit and Compliance Personnel
• Risk Managers
• Operations Managers
• Chief Operating Officers
• CPA Firms
• Attorneys
• Investment Management/Portfolio Managers
• Compliance Consulting Firms
• Outsourced IT Firms/Cyber Security Firms
• Client Service Managers
• Human Resources Personnel in Finance or IT

Lisa Marsden
President and Founder, Coulter Strategic Services

Lisa M. Marsden, IACCP ®, is the President and Founder of Coulter Strategic Services. Coulter Strategic Services provides Financial Advisors and compliance consulting firms with compliance and project management services. Prior to that, Ms. Marsden was in the C-Suite as a CTO, COO and CCO for Registered investment advisors in Florida. Ms. Marsden has a degree in computer programming from Keiser University, and holds the Investment Advisor Certified Compliance Professional Designation (IACCP®) and SHE IS ALSO A CFA, Investment foundations certificate holder. She also held positions in the Banking Trust industry for several years. Ms. Marsden is the 2017 president of the financial planners association of south florida

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