COVID-19 is putting everyone’s business continuity and resiliency plans to the test—including your vendors. From remote workforces to increased cyber-attacks to financial setbacks, there are many ways your third-party vendor’s response can have repercussions for your financial institution.
Regulators have noticed too. The Federal Financial Institutions Examination Council (FFIEC) recently issued pandemic planning guidance reminding FIs that business continuity plans (BCPs) should address the threat of a pandemic outbreak for vendors.
During this webinar, we’ll tackle your big questions about vendor management right now, including:
- What kind of information should vendors be communicating?
- What questions should you be asking?
- What assurances does your FI have that its vendors will continue to provide critical products and services?
- How might the pandemic impact safety and soundness exams going forward?
- What best practices are other FIs following right now?
Join us as we share essential strategies for minimizing the risk of pandemic-related business disruptions and third-party vendor failures.