Michele Sullivan with Crowe Horwath LLP to Speak at The Knowledge Group’s Vendor Risk Management for Banks & Financial Institutions Event
Michele Sullivan, Third Party Risk Management Practice Leader with Crowe Horwath LLP to Speak at The Knowledge Group’s Vendor Risk Management for Banks & Financial Institutions
New York, NY, June 21, 2016 --(PR.com)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Michele Sullivan, Third Party Risk Management Practice Leader with Crowe Horwath 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 more information, please visit: https://theknowledgegroup.org/event-homepage/?event_id=1965
About Michele Sullivan
Ms. Sullivan is a Partner in Crowe Horwath’s Risk Consulting Practice and specializes in the financial services sector. Ms. Sullivan has over 20 years of experience and focuses on leading large, complex projects focused on matters of risk management, compliance, and governance. She leads Crowe’s cross-industry practice on Third Party Risk Management. In addition to client service, she has served in various practice management roles at Crowe Horwath LLP. Ms. Sullivan is a founding member of Crowe Horwath’s Exceptional Client Experience Steering Committee and currently serves on the Firm’s Executive Committee.
About Crowe Horwath LLP
Smart decisions. Lasting value.
Crowe Horwath LLP is one of the largest public accounting, consulting, and technology firms globally. Connecting deep industry and specialized knowledge with innovative technology, our dedicated professionals create value for our clients with integrity and objectivity. We accomplish this by listening to our clients – about their business, trends in their industry, and the challenges they face. We forge each relationship with the intention of delivering exceptional client service while upholding our core values and our industry’s strong professional standards. Crowe invests in tomorrow because we know smart decisions build lasting value for our clients, people, and profession.
Abstract
Due to constant market changes, banks and financial institutions are increasingly relying on 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.
All banks can 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 webinar, 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.
Key issues that will be covered in this course are:
- Third Party Risk Management: An Overview
- Practical Guidance for Third Party Lifecycle Management
- Effective Approaches to Third Party Risk Assessments and Risk-based Monitoring
- TPR Software Considerations – What and When to Consider
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 more information, please visit: https://theknowledgegroup.org/event-homepage/?event_id=1965
About Michele Sullivan
Ms. Sullivan is a Partner in Crowe Horwath’s Risk Consulting Practice and specializes in the financial services sector. Ms. Sullivan has over 20 years of experience and focuses on leading large, complex projects focused on matters of risk management, compliance, and governance. She leads Crowe’s cross-industry practice on Third Party Risk Management. In addition to client service, she has served in various practice management roles at Crowe Horwath LLP. Ms. Sullivan is a founding member of Crowe Horwath’s Exceptional Client Experience Steering Committee and currently serves on the Firm’s Executive Committee.
About Crowe Horwath LLP
Smart decisions. Lasting value.
Crowe Horwath LLP is one of the largest public accounting, consulting, and technology firms globally. Connecting deep industry and specialized knowledge with innovative technology, our dedicated professionals create value for our clients with integrity and objectivity. We accomplish this by listening to our clients – about their business, trends in their industry, and the challenges they face. We forge each relationship with the intention of delivering exceptional client service while upholding our core values and our industry’s strong professional standards. Crowe invests in tomorrow because we know smart decisions build lasting value for our clients, people, and profession.
Abstract
Due to constant market changes, banks and financial institutions are increasingly relying on 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.
All banks can 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 webinar, 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.
Key issues that will be covered in this course are:
- Third Party Risk Management: An Overview
- Practical Guidance for Third Party Lifecycle Management
- Effective Approaches to Third Party Risk Assessments and Risk-based Monitoring
- TPR Software Considerations – What and When to Consider
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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