Managing Vendor Management and Assessing Third Party Risk

On Demand Course

Instructor: Michael Heller

Duration: 1 HR

What You'll Learn

Credit Unions increasingly rely on vendor relationships for critical internal operations, as well as member services. Vendor partnerships can provide certain advantages, but can also be accompanied by strategic, financial, reputational, and legal risks to your institution – you can never outsource risk! This program will provide a practical vendor management framework that can help your Credit Union build, incorporate, and sustain a robust, risk-focused vendor management program and culture that you can tailor to your own strategic objectives.

Topics Covered in this Course

Macro View: Why Vendor Management and Understanding Third Party Risk is Important at your Credit Union
Common Vendor Management Pitfalls
Managing Vendor Management and Assessing Third Party Risk at your Credit Union
- Risk Assessment
  - Identifying Internal Challenges and Aligning Vendor Partnerships with your Credit Union’s Strategic Goals
  - What Defines Success in the Vendor Relationship?

- Vendor Due Diligence
  - Knowing Your Vendor – The Business, the Industry, the Reputation
  - Contract Negotiations
- Ongoing Monitoring
How Good is your Credit Union at Managing Vendor Management?

*This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Accreditations

ACFE (Association of Certified Fraud Examiners)

This program is applicable for compliance or recertification CPE(s) through the Association of Certified Fraud Examiners (ACFE). Please visit the ACFE website for further clarification: https://www.acfe.com/cfe-credential/continuing-professional-education-cpe-requirements. This program is applicable for the CPE(s) listed to the right of this page.

Requesting CE:
Upon completion of this course, please email creditrequest@nogginguru.com to obtain a CE certificate.

About the Author:

Michael Heller

• Attorney at Messick Lauer & Smith, P.C. • Primary focus is providing guidance and expertise on contract terms for vendor contracts and agreements. • Begins with an understanding of the client’s business objectives and works with the client to ensure appropriate mitigation of risk to accomplish those business goals • Assists clients with CUSO formation and lending services • Has several relevant publications https://www.linkedin.com/company/messick-lauer-smith-p-c/ and https://www.cusolaw.com/information/ • J.D. Degree, Mitchell Hamline School of Law • Can be contacted at mheller@cusolaw.com or 610- 891-9000

On-Demand Course