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Vendor Management - How Does Model Risk Fit In?

You will walk away with a clearer understanding of where Vendor Management and Model Risk Management fit it within your ERM program.

OnDemand
Recorded Thursday,
August 26th, 2021
Presented by Marci Malzahn
1h 30m total length
2 CEU Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Executive
  • Risk Management/Legal
  • Bank Secrecy Act Officer/BSA Specialist
  • Branch Manager
  • Compliance Officer
  • Internal Auditor
  • IT Professional
  • Risk Manager
  • Security Officer

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With financial institutions increasingly relying on third-party providers to offer their products and services comes increased risk. Starting with the core system, should you outsource it or keep it in-house? And following with the rest of all the banking products you offer to your business clients that depend on technology, how in depth should your due diligence be? In this educational session, the presenter provides best practices based on the FFIEC IT Examination Handbook to help you develop a simple yet comprehensive Vendor Management Program.

In addition, along with Vendor Management, which includes all the third-party providers of systems and software, comes yet another risk—Model Risk. The presenter will explain step by step the OCC SR Letter 11-7 following their guidance on Model Risk Management. You will walk away with a clearer understanding of where Vendor Management and Model Risk Management fit it within your ERM program.

Covered Topics

  • How Vendor Management Program fits in within Enterprise Risk Management
  • Vendor Management Program Components
  • Vendor Management Policy and Procedures
  • Vendor Due Diligence
  • Example of Vendor Risk Assessment
  • Monitoring and Reporting Assessment Results
  • Definition of Model Risk and how it applies to your Institution
  • The OCC SR Letter 11-7 – A Step by step explanation
  • Examples of Model Risk – How it affects your institution
  • Example of Model Risk Assessment
  • How to establish your own Model Risk Management Program

Who should attend

Chief Risk Officers, Risk Managers/Leaders, Chief Credit Officers, Chief Financial Officers, Compliance Officers, Internal Auditors, IT personnel, Presidents involved in the risk management process and their ERM program.


Marci Malzahn

Instructor Bio

Marcia "Marci" Malzahn is the president and founder of Malzahn Strategic, a community financial institution management consultancy focused on strategic planning, enterprise risk management, treasury management, talent management, and EOS' Implementation.

Marci has 30 years of banking experience, ten of those years as the EVP/CFO and COO of a community bank she co-founded where she oversaw all areas of operations. In her last year as EVP/COO/CRO, Marci created and focused on the bank's enterprise risk management program.

Marci is the recipient of several professional awards, is a published author of four books, and an international bilingual keynote speaker, speaking frequently at banking and credit union conferences and associations as well as leadership and women's conferences. As a Certified Virtual Presenter, Marcia also provides online and onsite training for financial institutions.

Marci is a certified life coach, holds a B.A. in business management from Bethel University, and is a graduate of the Graduate School of Banking in Madison, Wisconsin.


Credit Information

Recommended for 2 CEU Credit Hours. After attending this webinar, each attendee can receive a Certificate of Attendance for self-reporting of CEU Credits.