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OnDemand Course

Improving Vendor Relationships and Decreasing Risk

Financial institutions increasingly look to vendor and third-party service provider relationships as a way to gain a competitive advantage.

These relationships can offer institutions a variety of safe and secure opportunities to improve overall success by, for example, reducing costs, performing functions on the institution's behalf and providing products and services that the institution does not offer. Reliance on vendor relationships, however, can significantly increase a company's risk profile. Failure to adequately manage vendor risks leaves a company exposed to regulatory action, financial loss, litigation and possibly damage to its reputation. In this on-demand webinar Kimberly Schaefer, a partner in the Vorys, Sater, Seymour and Pease LLP's corporate group, will outline the four steps of the risk management process, including oversight responsibilities throughout the vendor relationship. Learning Objectives: •You will be able to discuss risk assessment. •You will be able to explain due diligence. •You will be able to identify contract negotiation and structuring. •You will be able to review ongoing monitoring.

86 minutes
Certificate of Completion
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Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Risk Assessment

  • Players
  • Cost/Benefit Analysis
  • Evaluating the Quantity of the Risk

Due Diligence

  • Timing
  • Scope

Contract Negotiation and Structuring

  • Scope of the Relationship
  • Performance Measures and Responsibilities
  • Responsibilities for Providing and Receiving Information
  • Authorization to Audit
  • Confidentiality Procedures
  • Business Resumption and Contingency Plans
  • Service Level Agreements

Ongoing Monitoring

  • Monitor the Vendor's Financial Condition
  • Monitor Controls
  • Documentation
  • Performance Reviews
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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on December 12, 2013.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kimberly J. Schaefer

Kimberly J. Schaefer

Vorys, Sater, Seymour and Pease LLP

Kimberly Schaefer

  • Partner in the Vorys, Sater, Seymour and Pease LLP Cincinnati office and a member of the corporate group
  • Has been included on the Best Lawyers in America list for corporate law for two consecutive years (2013 to 2014) and listed as a Super Lawyers Rising Star for securities and corporate finance law since 2012
  • Notable experience includes: representing financial institutions in obtaining government funds under the TARP; representing financial institutions in the negotiation of large vendor contracts, including data processing and credit card issuances; assisting financial services companies with complex financial regulations, trust preferred offerings and supervisory actions; and assisting financial institutions with the acquisition of other financial companies
  • J.D. degree, magna cum laude, Duke University School of Law; B.S. degree in accountancy, summa cum laude, Miami University
  • Can be contacted at 513-723-4068 or [email protected]
No photo available

Megan M. Westenberg

Vorys, Sater, Seymour and Pease LLP

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Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 392741
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