Tue, Feb 4, 2014
March 11, 2014, 9:00 am - Noon
Vendor Due Diligence & Third-Party Contract Management- Presented by David Reed, Reed & Jolly, PLLC
Every time you utilize a critical vendor, you're handing that vendor the keys to your kingdom. What could possibly go wrong, you ask? Everything!Vendor management continues to be a high priority operational and regulatory issue because every credit union entrusts some of its most sensitive member information, financial resources and core business processes to third party vendors. If something goes wrong with a third party relationship, we all know who will get the blame: The credit union! On top of that, consider how much of your budget is paid directly to vendors. Make sure your credit union is getting the most from your vendors while satisfying the increased examination scrutiny.
From selecting the best available vendor to identifying integration issues to getting the most return from your investment, this presentation examines the regulatory requirements for managing third-party relationships and the operational details of creating an effective vendor management program.
1. Effective planning for third-party arrangements
2. Maximizing the return on outsourced relationships
3. The essential elements of vendor due diligence
4. Creating solid staff oversight and quality control over third-party vendors
5. BONUS: The Five things Your Vendor Does NOT Want You to Know
March 12, 2014, 9:00 am - 4:00 pm
BSA for Frontline Staff and BSA Officers- presented by Andre Lucas, MD|DC CUA
NCUA and state examiners are committed to enforcing the Bank Secrecy Act (BSA), so complying with the regulation should be a top priority for every credit union. Get the information you need to ensure your training requirements have been met before your examiner walks in the door.
- Take a close look at the requirements of BSA and the Customer Identification Program (CIP)
- Receive an overview of the Office of Foreign Assets Control (OFAC) and the PATRIOT Act
- Review policy requirements and examples of noncompliance.
- Identify the penalties that regulators could potentially impose on your credit union
- Review CTR and SAR filing requirements
- Understand expectations and procedures necessary to comply with independent testing requirements
- Identify appropriate due diligence and internal control procedures
- Get training requirements and materials for managers
- Learn to understand and manage monitoring systems
- Review completing a Risk Assessment
- Examine periodic compliance testing
- Review money laundering examples
March 20, 2014, 1-4:00 pm
Supervisory Committee Duties & Responsibilities- presented by Jim Higbee, Rowles & Company
This "nuts and bolts" training program addresses key risk areas of a credit union and provides practical information and tools to achieve effective audit results. No nonsense, no fluff – just simple techniques and information to help you be a more productive Supervisory Committee member.This session will include discussions of:
- The structure of the Supervisory CommitteeRoles and responsibilities including auditing and specific committee duties and powers
- The committee's role in monitoring the board of directors and other officials
- Recommended Supervisory Committee routine activities
- Learning from peers about how to get effective audit results
- A volunteer's guide to financial statements