Effective Third Party Risk Management

Why Should You Attend:

Vendor risk management is an important component of a financial institution’s operational risk management program. Financial institutions are accountable for the actions of their vendors and outsourcing partners and, in most cases, will suffer the financial and reputational consequences of their shortcomings.

Additionally, in the aftermath of the financial crisis, regulatory scrutiny has reached beyond financial institutions, to the vendors that support them. A sound vendor risk management program, including careful planning, due diligence and selection, and close oversight and monitoring during the life of the contract, is necessary to reduce the risks posed by the outsourcing of critical functions.

This webinar will cover the risk management guidance on third-party relationships provided by the OCC Bulletin 2013-29. According to the Office of the Comptroller of the Currency (OCC): “Banks continue to increase the number and complexity of relationships with both foreign and domestic third parties, such as:

• Outsourcing entire bank functions to third parties, such as tax, legal, audit, or information technology operations;
• Outsourcing lines of business or products;
Relying on a single third party to perform multiple activities, often to such an extent that the third party becomes an integral component of the bank’s operations;
• Working with third parties that engage directly with customers;
• Contracting with third parties that subcontract activities to other foreign and domestic providers;
• Contracting with third parties whose employees, facilities, and subcontractors may be geographically concentrated; and,
• Working with a third party to address deficiencies in bank operations or compliance with laws or regulations.”

Areas Covered in the Webinar:

• Background
• Major Risks
• Critical Activities
• Risk Management Lifecycle
• Planning
• Due Diligence and Selection
• Contract Negotiations
• Ongoing Monitoring
• Termination
• Oversight and Accountability
• Board of Directors
• Senior Management
• Bank Employees
• Documentation and Reporting
• Independent Reviews

Who Will Benefit:

This webinar will provide valuable information to individuals occupying the following positions in the financial services industry.

• Risk Officers
• Compliance Officers
• Internal and External Auditors
• Financial Controllers
• Operations Managers
• Information Technology Managers
• Procurement Managers

Mario Mosse
President, MMosse Consulting LLC

Mario Mosse has 40 years of experience in enterprise risk management, internal audit and regulatory compliance at financial services companies. He is the president of MMosse Consulting, LLC, where he provides risk management advice and training to the financial services industry. Recent activities include the development and delivery of several seminars and webinars on various risk management and compliance topics to risk professionals in the United States and Latin America.

Previously, he was the head of Operational Risk Management at Prudential Financial, Inc. Prior to joining Prudential, Mosse was with The Chase Manhattan Bank, where he held several senior positions in Risk Management and Internal Audit, including Chief Risk Officer for the Corporate Finance Sector and South America Regional Audit Executive.

Mosse has extensive knowledge of U.S. and international financial services and products, including retail and corporate banking, securities brokerage, investment banking, asset management, and life insurance. He also has in-depth knowledge of risk management and internal control frameworks such as Basel II and III, Solvency II and COSO, including new product development, risk and control self-assessment, key risk indicators, loss event data capture and analysis, capital allocation and control issue tracking and reporting.

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