Date: March 31, 2020
Time: 10:00 AM - 12:00 PM CT
SBS Instructor: Jon Waldman - President, SBS Institute
This webinar is presented in partnership with TTS-Bank.
In recent years, financial institutions have seen a significant amount of new guidance on third party risk management and new terms coined such as Fourth Party Management. FFIEC Cybersecurity Assessments Tool (CAT) encourages financial institutions to expand questioning around third party risk management practices and suggests more rigorous oversight. The FFIEC coined the term “External Dependencies” in CAT guidance. This expands requirements beyond vendors to include any third-party relationship, including customers. Regulators also suggest that the FFIEC CAT can be leveraged against Third Parties; not just financial institutions. In addition to the FFIEC, the OCC has issued additional guidance for examiners when reviewing third party management programs.
We will explore best practices for Vendor Management, Third Party Risk Management, Fourth Party Management and Customer Risk Management.
What You Will Learn
- Overview of industry breaches
- New regulatory expectations
- Risk Management practices for selecting new products/services
- Risk Management of existing relationships
- Third Party and Fourth Party Management concepts
- SOC 2 Reports and how to get value
- Integration of customers into management program
- Lessons learned from failed management programs
Target Audience: Information Security Officer, IT Manager, Risk Officer, Internal Auditor, CFO, and Executives looking to understand the risk around Third Party Management.
2.5 CE Credits
Hacker Hour webinars are a series of free webinars hosted by SBS CyberSecurity. Unlike paid webinars, Hacker Hours are aimed to meet on a monthly basis to discuss cybersecurity issues and trends in an open format. Attendees are encouraged to join the conversation and get their questions answered. SBS will also offer products and services to help financial institutions with these specific issues.