Certified Regulatory Vendor Manager Program
The VBA has partnered with the Compliance Education Institute to provide a Certified Regulatory Vendor Program Manager (CRVPM) training program to our member banks. The (CRVPM) course provides bankers with the regulatory knowledge, methodology and best practices to build and manage a compliant third-party oversight program that meets FFIEC Guidance and GLBA 501(b) requirements.
Vendor Management has been under the regulatory magnifying glass for several years and is only growing in importance with the advent of increased outsourcing, cloud computing, high profile breaches and additional guidance being issued from all agencies.
These factors have created a growing demand for professionals with GLBA 501 (b) and FFIEC Guidance regulatory knowledge and specialized expertise in building, implementing and managing compliant Vendor Management programs. In addition, there are numerous regulations to be aware of and comply with including those that your vendor is subject to even though they might not apply to your institution.
The goal of the Certified Regulatory Vendor Program Manager (CRVPM®) course is to provide the student with the regulatory and compliance knowledge, program implementation methodology and the best practices required to build and manage a compliant program and properly prepare for regulatory exams and audits.
Chapter 1 – History: The Great Depression of 1929 led to a number of regulatory acts intended to protect bank customers. This chapter covers the historical events and subsequent regulations from the Glass-Steagall Act to the Gramm-Leach-Bliley Act, providing the student with the knowledge of the driving issues behind the regulations.
Chapter 2 – Regulations: The regulatory burden is overwhelming and only growing in scope. Very often regulations from multiple agencies often overlap. This chapter helps you sort through the proliferation of regulations, bulletins and Guidance that financial institutions must be aware of and comply with and ensure that their vendors comply with.
Chapter 3 – Benefits: Compliance is most often seen as a cost center with the perception that the benefit of being compliant is “not being fined”. This chapter presents examples of the many benefits of a compliant vendor management program and the methodology to determine the many hard dollar and soft dollar savings that can be realized. Leveraging this knowledge, a business case can be built for compliance/vendor management program funding or enhancement and gaining Executive Sponsorship within the institution.
Chapter 4 – Components: A filing cabinet full of folders is not a vendor management program! A compliant program is a series of inter-related steps to be carried out inclusive of policy, procedure and process in order to achieve a goal or set of goals. This chapter dives into the details of the 9 key components of a compliant vendor management program that every institution must address.
Chapter 5 – Implementation: Once the regulations, benefits and components are understood, this chapter instructs how to put it all together and begin implementing or enhancing your program to bring it into compliance with regulatory requirements.
Chapter 6 – Exam and Audit Preparation: The increased regulatory focus on vendor management programs and the high profile security breaches in recent years have given regulators cause for concern over whether financial institutions are complying with regulatory requirements to ensure that their vendors’ physical, technical and administrative controls are being properly evaluated. This chapter provides the insight gained through interviewing financial institutions across the country to provide the details needed to properly prepare for your next regulatory exam or audit.
Chapter 7 – Best Practices: While Best Practices are not always practical for all institutions, this chapter presents a wide variety of Best Practices that have proved valuable to successful vendor management program implementations at institutions across the country.
Web-based eLearning System: Self-paced
Time Required: Approximately 6 hours
CPE Eligible: 7.25 Credits (ICB/ABA Approved)
Cost: $499 per enrollment
- Hardcopy certificate
- CRVPM® Credential Registration Number
- CRVPM® Reference Guide which is updated throughout the year as new rules, regs and Guidance are issue and as new exam trends emerge and best practices are identified, to see sample pages from the guide
- 1 year free telephone/email consulting support for vendor management issues/questions and GLBA 501(b) issues
For more information, contact Walt Lyons.