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Third Party and Fourth Party Management

We will explore best practices for Vendor Management, Third Party Risk Management, Fourth Party Management and Customer Risk Management.

OnDemand
Recorded Wednesday,
March 10th, 2021
Presented by Jon Waldman
2h total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Risk Management/Legal
  • Compliance Officer
  • Internal Auditor
  • IT Professional
  • Privacy Officer/Information Security Professional
  • Security Officer
  • Senior Management

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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'll 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

Who Should Attend

Information Security Officer, IT Manager, Risk Officer, Internal Auditor, CFO, and Executives looking to understand the risk around Third Party Management.

Jon Waldman

Instructor Bio

Jon Waldman is a co-founder and Senior Information Security Consultant for SBS CyberSecurity, a premier cybersecurity consulting and audit firm dedicated to making a positive impact on the banking and financial services industry. He maintains his CISA and CRISC certifications and received his Bachelor of Science in Computer Information Systems and his Master of Science in Information Assurance with an emphasis in Banking and Finance Security from Dakota State University. Over the last ten years, Jon has helped hundreds of financial institutions across the country create and implement comprehensive, valuable, and manageable Information Security Programs. He also conducts webinars and certification programs for the SBS Institute.

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