Governance Archives - Compliance Education Institute

Compliance Education Institute Teams with Fortrex Technologies to Provide Document Assessment Services

New Strategic Partnership Announcement Compliance Education Institute and Fortrex Technologies, LLC partner to deliver comprehensive services May 1, 2019 – Furthering their dedication to provide comprehensive third party risk management (TPRM) services, Compliance Education Institute and Fortrex Technologies, LLC, are pleased to announce our new strategic partnership. Compliance Education Institute provides comprehensive, detailed, and practical [...]

Mick Kless2019-05-01T10:59:50+00:00May 1st, 2019|3rd Party Risk, Audit, Business Continuity, Compliance, ERM, Governance, Risk, TPRM, Vendor Management|0 Comments

NY DFS Cybersecurity Regulation: Are your 3rd Party Controls in Place Before the Hammer Drops?

With the March 1, 2019 deadline looming for complying with NY’s Cybersecurity regulation, the NY DFS must be licking its chops at the prospect of imposing fines. Actually, I’m sure they really hope that all covered entities are up to snuff and have sent in their signed certifications or exemptions. “Signed certifications or exemptions?” you ask. [...]

Mick Kless2019-02-11T13:07:45+00:00February 11th, 2019|3rd Party Risk, Audit, BCP, Business Continuity, Compliance, ERM, Governance, GRC, Information Security, Risk, Vendor Management|0 Comments

3rd Party CryptoCurrency Risk & Controls: Hot Wallets? Cold Wallets? Standards? Insurance?

February 5, 2019 Copyright 2019 Compliance Education Institute If you’re considering or have already taken the plunge into cryptocurrency as an asset or a viable form of payment or value, then you’ve likely engaged a 3rd party as a repository or an exchange. Like any other vendor managing our deposits/transactions/assets, we must certainly be concerned about [...]

Mick Kless2019-02-05T10:20:38+00:00February 5th, 2019|3rd Party Risk, Audit, ERM, Governance, Risk, Vendor Management|0 Comments

3rd Party Code of Conduct as a Contractual Condition for Termination

While most companies have Code of Conduct for staff, not as many require their 3rd parties to sign such a document. Even fewer include violation of that Code of Conduct as a condition for cancellation of contract. As we all know, being associated with a 3rd party that has received adverse attention in the media could [...]

Mick Kless2017-10-20T08:18:32+00:00September 22nd, 2017|3rd Party Risk, Compliance, Governance, Risk, Vendor Management|0 Comments

You’re Not Too Small for Multiple Lines of Defense

Classic risk management employs 3 lines of defense. But there's also a possible 4th line when it comes to regulatory issues, specifically vendor management. Please note that I have seen multiple titles that fit the roles below so don't get hung up on the titles. If you're a smaller institution and you wear multiple hats, you [...]

complianceWP2017-03-16T12:49:14+00:00October 16th, 2016|3rd Party Risk, Audit, Compliance, ERM, Governance, GRC, Risk, Vendor Management|0 Comments

No such thing as Vendor Risk!

Alright, so I'm going out on a limb to get some feedback and I hope that those of you reading this will do so. In our advanced Certified Regulatory Vendor Program Manager (CRVPM Level II) course, I note that there has been a great deal of focus in the industry on Vendor Risk/Third Party Risk but... [...]

complianceWP2017-03-16T12:50:23+00:00August 16th, 2016|3rd Party Risk, ERM, Governance, GRC, Risk, Vendor Management|0 Comments

Plan Your Exit Before You Outsource!

When considering outsourcing a service, it's essential to have an Exit Strategy in place so that you can transition the service to another vendor or bring it back in house prior to or at the end of the contract term. This should be done before you even consider searching for a vendor. A well thought out [...]

complianceWP2017-03-16T13:01:16+00:00January 26th, 2016|3rd Party Risk, Audit, BCP, Business Continuity, ERM, Governance, GRC, Risk, Vendor Management|0 Comments