Managing Service Provider Risks


$295.00

Presented by: Jack Holzknecht

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WHAT?
The use of service providers is often an appropriate business decision for banks. Banks outsource certain functions to service providers due to resource constraints, use service providers to develop and market additional products and services, or rely on expertise from service providers that would not otherwise be available without significant investment.

But entering into a business relationship with a service provider does not absolve the bank of responsibility for complying with Federal consumer financial law to avoid consumer harm. Banks must have an effective process for managing the risks of service provider relationships. This presentation provides the information needed to develop that process.

Upon completion of the program you will understand how to ensure service provider arrangements do not present unwarranted risks to consumers by --
  • Conducting thorough due diligence to verify that the service provider understands and is capable of complying with Federal consumer financial law;
  • Requesting and reviewing the service provider's policies, procedures, internal controls, and training materials to ensure that the service provider conducts appropriate training and oversight of employees that have consumer contact or compliance responsibilities;
  • Including in the contract with the service provider clear expectations about compliance, as well as appropriate and enforceable consequences for violating any compliance-related responsibilities, including engaging in unfair, deceptive, or abusive acts or practices;
  • Establishing internal controls and on-going monitoring to determine whether the service provider is complying with Federal consumer financial law; and
  • Taking prompt action to address fully any problems identified through the monitoring process, including terminating the relationship where appropriate.
WHY?
A service provider that is unfamiliar with the legal requirements applicable to the products or services offered, or that does not make efforts to implement those requirements carefully and effectively, or that exhibits weak internal controls, can harm consumers and create potential liabilities for both the service provider and the entity with which it has a business relationship. Depending on the circumstances, legal responsibility may lie with the bank as well with the service provider.

WHO?
The program is designed for management of all departments, compliance officers, auditors, and many others.

About the Speaker: Jack Holzknecht is a principal with Pegasus Educational Services, LLC. He has been delivering the word on lending compliance for 36 years. In Jack's 31 years as a trainer, over 100,000 bankers (and many examiners) have participated in his live seminars and webinars. Jack's career began in 1976 as a federal bank examiner. He later headed the form, software and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by several state bankers associations. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association. He is also a "BOL Guru" at http://www.bankersonline.com.


VIEW A 10 MINUTE SAMPLE
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CD-ROM includes:
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in August 2012. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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  • Model: cd_service0812
  • Manufactured by: Glia Group, Inc.


This product was added to our catalog on Tuesday 29 May, 2012.

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