Risk Assessing Your Credit Union's Vendors

Risk assessments are a vital part of the third-party risk management lifecycle as proper risk assessments will help your credit union identify the risk associated with outsourcing product and services to each vendor. Assessing vendor risk is not only a regulatory requirement, but also a best practice to keep your credit union and its member safe.

In this session, you'll learn about inherent and residual risks, what your credit union needs to be collecting on your vendors to manage risks, and the who, what, why, when, and how of vendor risk assessments.

Watch now to learn: 

• An overview of vendor risk assessments: who, what, why, when, and how 
• Inherent vs residual vendor risk
• What your credit union should be collecting to determine risk
• Risk assessment best practices