What steps should your financial institution take to avoid some of the recent enforcement actions and violations cited for UDAAP, BSA, Reg E and various compliance regulations that involved inadequate due diligence and Board oversight for third-party activity?What You'll Learn:

• What are the five types of risk in third party activities?
• How can the risks be managed and mitigated?
• What provisions should be included in your vendor contracts?
• What areas should be reviewed in the third party provider's policies, procedures, and internal controls? What about their training programs and complaint procedures?
• What type of monitoring programs and internal controls should your financial institution incorporate to ensure compliance with Federal laws and regulatory guidance?
• What are some of the current regulatory guidance references?
• What are some "best practices" for third-party oversight, monitoring complaints, and anticipating UDAAP issues?
• What are some of the recent UDAP cases in third-party services?
• BONUS - The materials include a Due Diligence CHECKLIST for a new service provider and to several helpful regulatory publications. A sample complaint policy and tracking form will be provided in WORD for participants to modify and use for your financial institution's internal procedures.