Date
October 18, 2022
Presenters
Matthew T. MacDonald, CISA, CCSFP, CHQP
Manager
IT Assurance Auditor
Description
Location: Doubletree Hilton Hotel, Bristol, Connecticut
Matt and Andy will be speaking on the topic of Fine-Tuning a Third-Party Risk Management Program.
In this year’s Verizon’s data breach report, we are learning that there is an escalating number of supply chain related incidents across the financial sector. This is helping us realize that disrupting the right partners is a force multiplier for disaster. Meaning, we need to pay close attention to how external parties may affect us. So, while leveraging these providers may be beneficial and cost-effectiveness, the risk factor must be properly manifested in our risk processes. Thus, enterprise risk management (ERM) executives need to ensure that their Third-Party Risk Management (TPRM) program is calibrated to identify, socialize, and mitigate these relevant threat vectors.
Join Wolf & Company in partnership with the Connecticut Bankers Association to learn about practices and principles that will enhance the maturity of the TPRM programs and readjust TPRM processes. This discussion will navigate through the steps to establishing a holistic TPRM program that is built on proven risk management approaches and intermingled with interagency guidelines.
Learning Objectives
- Understand interagency guidelines and updates for managing third party relationships – FFIEC, FDIC, OCC, FRB, & NCUA
- Establish and understand threat landscapes to identify risks in a third-party ecosystem
- Fine-tune key third-party risk management control activities based on risk elements
- Utilize both proactive and reactive third-party risk mitigation techniques
