Sharpening Your Vendor Management Tools

Dan Hadaway is presenting a workshop titled “Sharpening Your Vendor Management Tools” through the Indiana Bankers Association. This workshop is scheduled for May 4th.

Program Overview

Because financial institutions rely heavily on vendors to perform tasks involving confidential information, the FFIEC makes us responsible for governing the vendor process. An effective vendor management program will identify, measure, monitor, control, and escalate the risks associated with vendor relationships. Meanwhile, the tools we use to measure vendor risk are improving. The SAS70 is being replaced with the SSAE16. Service Organizations Control (SOC) reports are internal control reports on the services provided by a service organization. SOC reports provide valuable information users need to assess and address the risks associated with an outsourced service. In addition, examiners are clarifying what is meant by a Critical Vendor, and the tools we use to manage the vendor due diligence process have improved.

Agenda

• Risk Management Basics
• Vendor Risks
• Governing Threshold
• Policy and Procedure
• Enlisting Vendor Owner Support
• The SSAE16 Review Process
• The Due Diligence Process [New Vendors and Annual Review]
• Streamlining the Process

Deliverables (Templates)

• Board-level Vendor Management Policy
• Vendor Management Procedure
• Vendor Contract and Non-Disclosure Agreement
• SSAE-16 Review Checklist
• Vendor Due Diligence Checklist
• Access to our Workshop Portal and Appropriate Boilerplates

Who Should Attend

This workshop is directed to the person(s) responsible for Vendor Due Diligence at the bank. Even if you already have a good Vendor Management Program, you may want to attend this workshop to learn about the SSAE-16 as well as to sharpen your tools.

About Your Presenters

Dan Hadaway, CRISC, CISA, CISM

Dan Hadaway founded Infotex in 2000 to help banks comply with the then-new Gramm Leach Bliley Act. Since then he has grown the firm to be a leading Managed Security Service Provider (MSSP) that also provides IT Audit services as well as IT Governance consulting. As one of the first to hold a CRISC designation, Dan helped write the review manual for the Certified in Risk & Information Systems Control certification (CRISC), which recognizes professionals for their knowledge of enterprise risk and their ability to design, implement, monitor and maintain information system controls to mitigate such risk.

Dan speaks regularly at conferences & conventions, and facilitates an annual IT Security Conference for banks. His often humorous writings have been published in several publications including Hoosier Banker.

Registration Information

• IBA Members
  • $225 First Person
  • $155 Additional Members from Same Institution

• Non-Members
  • $450

As of Jan. 1, 1994, only 50 percent of business food and beverage can be deducted. For tax purposes the cost of food and beverage for this program is $25.

Agenda

8:30 a.m. Registration
9:00 a.m. Program begins
12:00 noon Lunch (included)
1:00 p.m. Program resumes
4:00 p.m. Program adjourns

Location
IBA Center for Professional Development
6925 Parkdale Place
Indianapolis, IN 46254

The IBA Center for Professional Development is located on the westside of Indianapolis just off of I-465. From I-465 take the 38th Street West Exit (Exit 17). When you exit go west on 38th street. Turn north/right onto Eagle Creek Parkway and then east/right onto Parkdale Place. Our address is 6925 Parkdale Place, Indianapolis, IN 46254. Click here for a map and a list of local hotels. Dress is business casual.

Confirmation/Cancellation
Everyone who registers online will receive an e-mail confirmation after the registration is submitted. Within three or more business days prior to the day of an educational program, no cancellation charge will be assessed. Within two days prior, 50% of the fee is assessed. Refunds are not provided for cancellations or absences which occur on the day of the program. Substitutions are welcome at any time.

Here is the registration form (PDF version) provided by the Indiana Bankers Association:     Sharpening Your Vendor Management Tools

2 Responses to “Sharpening Your Vendor Management Tools”

Comment from Ken Shaurette
Time 03/22/2011 at 11:50 am

Hopefully you will be addressing for your audience that the SAS70 and for that matter the new SSAE16 are not due diligence around the controls that a service provider has protecting the customers data. In their pure form they are only an attestation to the controls directly protecting the service provider’s financial statement. Scope of review is critical and SAS70 had begun to bastardize scope in many orgnaizations and examiners were to some degree propogating a false feeling of security if orgnaizations obtrained the SAS70 as a proof that the vendor had adequate controls protecing the cusstomers data.

Comment from Bobbette
Time 03/22/2011 at 12:24 pm

Yes, that will be addressed. Just because a vendor has a SAS 70 does not (I repeat, does NOT) guarantee that the vendor is secure. The vendor, as far as the SAS 70 is concerned, selects what controls will be tested (Type 2). There’s also no mention in the SAS 70 controls that are not in place, but should be. A review of the SAS 70, however, is still important. The Client Control Considerations are a key element that should be reviewed. This section states what the institution should have in place to keep the institution “more secure” when doing business with the vendor. It is what connects the two entities, in at least a mitigating control stance. You may say that they (the SAS 70 and SSAE16) should be viewed with a grain of salt, with a little pepper thrown in.