How Fourth Parties Impact Your Credit Union

You have your full inventory list of your third-party vendors, but did you know that you need to understand who your vendors are on a deeper level? Have you considered who your fourth-party vendors are? They could be playing a crucial role in your operations or even have access to sensitive data that belongs to your members. 

It’s crucial to be aware of the level of risk that fourth-party vendors can bring to your credit union and its members, especially if they are providing support for critical products and services. But how can you effectively “manage” vendors when your third party has a contract, but you don't? Watch this session, where we discuss the importance of understanding your fourth-party vendors for your third-party risk management program and how to review them. 

Watch now to learn: 

• Why fourth-party risk management is important 
• Who fourth parties are and how to identify them  
• How to review your fourth parties  
• Tips to overcome common challenges of fourth-party reviews 
• Key takeaways