Brendan J. Thomas, Attorney with Troutman Sanders LLP to Speak at The Knowledge Group’s Vendor Risk Management for Banks & Financial Institutions
New York, NY, May 20, 2016 --(PR.com)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Brendan J. Thomas, Attorney with Troutman Sanders LLP will speak at The Knowledge Group’s webcast entitled: “Vendor Risk Management for Banks & Financial Institutions.” This event is scheduled for August 4, 2016 from 12:00 pm to 2:00pm (ET).
For further details, please visit: https://theknowledgegroup.org/event-homepage/?event_id=1965
About Brendan Thomas
Brendan Thomas is an associate in the Financial Institutions and Corporate practices at Troutman Sanders LLP. Brendan’s practice focuses on assisting financial institutions with bank regulatory matters, assisting publicly and privately-held businesses with mergers and acquisitions and public offerings and private placements of debt and equity securities, and representing public companies in SEC reporting, corporate governance and compliance matters. He also focuses on the representation of private equity funds and their portfolio companies in connection with mergers, acquisitions, corporate reorganizations and general corporate matters.
About Troutman Sanders LLP
Founded in 1897, Troutman Sanders LLP is an international law firm with more than 650 lawyers practicing in 16 offices located throughout the United States and Asia. The firm’s clients range from large multinational corporations to individual entrepreneurs and reflect virtually every sector and industry. The firm’s heritage of extensive experience, exceptional responsiveness and an unwavering commitment to service has resulted in strong, long-standing relationships with clients across the globe. In recognition of the firm’s strong service culture, Troutman Sanders has been on the BTI Client Service A-Team for 12 consecutive years. Troutman Sanders is one of 31 global law firms to be ISO/27001 certified, assuring its clients that Troutman Sanders is using world class standards to safeguard their most sensitive information.
Abstract
In response to market changes, banks and financial services companies are increasingly relying on an extended network of suppliers and third-parties to perform vital functions, serve customers, and face the market. While beneficial in many ways, third-party relationships also present various risks and exposure to potential significant financial loss, reputation damage, and supervisory action. There are many recent, public examples of theft of customer data, consumer compliance violations and extreme loss in market capital resulting from breaches by third-parties.
Banks and financial institutions may have all the security there is, but it actually takes one mistake from a third-party vendor to compromise it all. When the Federal Financial Institution Examination Council (FFIEC) released the organization’s IT Technology Examination Handbook in November 2015, many financial institutions were caught by surprise. FFIEC now holds the entire organization and board members responsible in ensuring the viability of a third-party IT provider’s cybersecurity resiliency and disaster recovery. Regulations such as the Sarbanes-Oxley Act (SOX), Payment Card Industry Data Security Standard (PCI DSS) and the Health Information Portability and Accountability Act (HIPAA) direct all businesses’ risk management policies to take into account their third-party vendors, outsourcers, contractors and consultants. Needless to say, regulators now expect financial services companies to know their third parties, how each of them interacts with consumers, and what risks are presented in the relationship.
In this two-hour live Webcast, a panel of key thought leaders and professionals brought together by The Knowledge Group will provide the audience with an overview of the increasingly significant issue of Third Party Risk Management. The Webcast will highlight current trends in the regulatory environment, methodologies for effective third party lifecycle management, potential risks for consideration and how to assess and monitor those risks, as well as other best practices, tools and techniques. The panel will also offer perspective in identifying and minimizing potential business uncertainties and legal liabilities.
About The Knowledge Group/The Knowledge Congress Live Webcast Series
The Knowledge Group was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register for an event, please visit: http://theknowledgegroup.org/
For further details, please visit: https://theknowledgegroup.org/event-homepage/?event_id=1965
About Brendan Thomas
Brendan Thomas is an associate in the Financial Institutions and Corporate practices at Troutman Sanders LLP. Brendan’s practice focuses on assisting financial institutions with bank regulatory matters, assisting publicly and privately-held businesses with mergers and acquisitions and public offerings and private placements of debt and equity securities, and representing public companies in SEC reporting, corporate governance and compliance matters. He also focuses on the representation of private equity funds and their portfolio companies in connection with mergers, acquisitions, corporate reorganizations and general corporate matters.
About Troutman Sanders LLP
Founded in 1897, Troutman Sanders LLP is an international law firm with more than 650 lawyers practicing in 16 offices located throughout the United States and Asia. The firm’s clients range from large multinational corporations to individual entrepreneurs and reflect virtually every sector and industry. The firm’s heritage of extensive experience, exceptional responsiveness and an unwavering commitment to service has resulted in strong, long-standing relationships with clients across the globe. In recognition of the firm’s strong service culture, Troutman Sanders has been on the BTI Client Service A-Team for 12 consecutive years. Troutman Sanders is one of 31 global law firms to be ISO/27001 certified, assuring its clients that Troutman Sanders is using world class standards to safeguard their most sensitive information.
Abstract
In response to market changes, banks and financial services companies are increasingly relying on an extended network of suppliers and third-parties to perform vital functions, serve customers, and face the market. While beneficial in many ways, third-party relationships also present various risks and exposure to potential significant financial loss, reputation damage, and supervisory action. There are many recent, public examples of theft of customer data, consumer compliance violations and extreme loss in market capital resulting from breaches by third-parties.
Banks and financial institutions may have all the security there is, but it actually takes one mistake from a third-party vendor to compromise it all. When the Federal Financial Institution Examination Council (FFIEC) released the organization’s IT Technology Examination Handbook in November 2015, many financial institutions were caught by surprise. FFIEC now holds the entire organization and board members responsible in ensuring the viability of a third-party IT provider’s cybersecurity resiliency and disaster recovery. Regulations such as the Sarbanes-Oxley Act (SOX), Payment Card Industry Data Security Standard (PCI DSS) and the Health Information Portability and Accountability Act (HIPAA) direct all businesses’ risk management policies to take into account their third-party vendors, outsourcers, contractors and consultants. Needless to say, regulators now expect financial services companies to know their third parties, how each of them interacts with consumers, and what risks are presented in the relationship.
In this two-hour live Webcast, a panel of key thought leaders and professionals brought together by The Knowledge Group will provide the audience with an overview of the increasingly significant issue of Third Party Risk Management. The Webcast will highlight current trends in the regulatory environment, methodologies for effective third party lifecycle management, potential risks for consideration and how to assess and monitor those risks, as well as other best practices, tools and techniques. The panel will also offer perspective in identifying and minimizing potential business uncertainties and legal liabilities.
About The Knowledge Group/The Knowledge Congress Live Webcast Series
The Knowledge Group was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register for an event, please visit: http://theknowledgegroup.org/
Contact
The Knowledge Group
Thomas LaPointe, Jr., Executive Director
646-844-0200
www.theknowledgegroup.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
Thomas LaPointe, Jr., Executive Director
646-844-0200
www.theknowledgegroup.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
Contact
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