Vendor Due Diligence & Third Party Contract Management Seminar
August 28, 2008
Columbus, OH
9:00 a.m. – 4:00 p.m. Local Time
Tuition: $219
CANCELLED. Due to unforeseen circumstances, the Ohio Credit Union League must regrettably cancel the Vendor Due Diligence seminar scheduled for August 28 in Columbus. We hope to offer another opportunity on this subject before the end of the year.
SEMINAR OVERVIEWThis one-day seminar examines the regulatory requirements for managing third party relationships and the details of creating an effective vendor management program. The NCUA has made it clear that third party relationships are a top regulatory examination topic in 2008. Almost every credit union entrusts some of its most sensitive member information and core business processes to third party vendors. If something goes wrong with a third party relationship, we all know who will get the blame —the credit union! Make sure your credit union is prepared to address this important topic.
Schedule:
- 8:30-9:00 a.m. Registration
- 9:00 a.m.-Noon Seminar
- Noon-1:00 p.m. Lunch
- 1:00-4:00 p.m. Seminar
TOPICS & OBJECTIVES
1. Recent NCUA guidance on evaluation of third party relationships
- From supervisory letters to webinars, what NCUA is telling us
2. Effective planning for third party arrangements
- Getting an accurate snapshot of your operations
- The role of strategic planning
- Operational advantages of third party vendor management
3. Credit union wide vendor risk assessment
- Performing a vendor census
- Understanding risk based risk assessments
- Identifying critical vendors
4. The essential elements of vendor due diligence
- Vendor background checks
- Financial and accounting traps to avoid
- The myth of the SAS 70
5. Basic contracting tips
- Understanding key contract terms
- Secrets of vendor negotiation
- Avoiding classic contract traps
6. Creating solid staff oversight and quality control
- Assigning staff oversight functions
- Drafting effective procedures
- Creating a vendor management cycle
7. Managing third party risks
- Internal controls and audit functions
- Mitigation, transfer and avoidance of risk
- Effective problem resolution procedures
Affiliation with CUNA/League is required for attendance.
LOCATION
CORPORATE ONE FEDERAL CREDIT UNION8700 Orion PlColumbus, OH 43240-2078
Fax: (614)825-9201
LODGING DETAILHere is a nearby option for lodging:
BEST WESTERN FRANKLIN PARK SUITES - POLARIS
2045 Polaris Pkwy
Columbus, Ohio, 43240-2000
Phone: 614-396-5100
Fax: 614-396-5101
INSTRUCTORS
David A. Reed
David A. Reed, founder of CU Doctor, is an author, consultant, and nationally recognized speaker. Reed provides guidance to credit unions concerning a variety of matters, including credit union policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. A former bankruptcy attorney, vice president, and general counsel for a large credit union, Reed is particularly noted as an expert in the areas of bankruptcy and collections.
WHO SHOULD ATTEND
This session is designed for all management, executives, CEOs, and compliance professionals who work with third party vendors.
FREE PUBLICATIONS
Try one of these publications free when you register for this program!
- Credit Union Magazine (6 months free!)
- Directors Newsletter (6 months free!)
Find out more about these publications
CANCELLATIONS
Cancellations received in writing (via fax 608-231-4327) seven or more days before the start of the program are eligible for a refund of the amount paid minus a $50 administrative fee. No refunds will be granted if cancellation is received six days or less before a program begins. Substitutions are accepted anytime prior to the start of the program at no additional cost. Simply fax event and contact information, listing the new participant and who they will be replacing. Cancellation fees do not apply for free or complimentary programs.
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