This session will explore the importance of having adequate, current, and relevant due diligence, oversight & governance programs designed to monitor and manage interactions with a wide variety of vendors – including both affiliated and unaffiliated. Panelists will explore best practices regarding managing third party risk from implementation and initiation of the relationship throughout its lifecycle.
• Analyze and assess regulatory, reputational, and on-going business risks and their potential impact on governance programs
• Discuss considerations for maintaining the integrity of an established oversight and governance program and mitigating conflicts that may arise including immediate notification of material breaches and/or system failures.
• Understand the considerations and potential pitfalls for oversight & governance programs with affiliated service providers
• Discuss the importance of robust oversight & governance programs and the consequences of not maintaining the program, including relevant enforcement cases