Course Overview: This course focuses on building your awareness of identifying risks associated with outsourcing. It provides information on the Interagency Guidance (Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency) on vendor risk management and gives you practical approaches to assess risk, select vendors, and monitor ongoing activities.

Learning Objectives

•  Evaluate risk associated with outsourcing based on the product or service

• Understand the various risk types – Operational, Transaction, Compliance, Data and Reputational

• Identify steps to due diligence, selection, contract negotiation, and ongoing monitoring

• Understand the degree of ongoing monitoring required for each third-party relationship

Audience: Any staff who select, manage, and monitor vendors

Length of Course: This course takes approximately 90 minutes to complete.