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Vendor Risk Management

An overview of the risk considerations associated with the selection, engagement, oversight and termination of vendors by a bank, and a perspective on the current regulatory expectations.

Updated: July 2019

What You'll Learn

After successfully completing this course, you will be able to:

  • Know why financial institutions use third parties and the typical services provided
  • Understand typical risk areas and the regulatory content
  • Outline the methodology for risk categorization
  • Describe the stages in the vendor relationship life cycle
  • Identify documentation and record keeping requirements


Risk managers and business line managers who interact with third-party vendors and need to recognize the potential risks within the legal agreements and the services they provide, especially in situations where an entire bank function is outsourced, multiple bank functions are consolidated to a single vendor, the vendor subcontracts and/or the vendor works directly with the bank's customers.

​Course Credits

ABA Professional Certifications: 1.25 CAFP, CERP, CRCM​, CSOP​

ABA Certificates​: This course applies to the ABA Certificate in Operational Risk Management

Your Instructor

Paul Smocer
President, Smocer Consulting Services, LLC

Paul Smocer has over 40 years of experience in information technology risk management, internal audit, and regulatory compliance within the financial services industry. He has held roles as a chief information security officer, SVP of technology risk management, SVP of IT audit and chief auditor, among others. Paul served on the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security. His most recent role was as the President of BITS, the technology policy division of the Financial Services Roundtable. He was named as one of the "Top 5 Influential IT Security Thinkers" by SC Magazine, a magazine for IT security professionals.


​​Questions? Please contact ABA Training for more information.



Purchase for a Team
To license this course to your bank for multiple learners, please contact ABA Training.


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