TOPIC: Vendor

Anyone have experience deploying Microsoft Phone System

CTO at a credit_union ($2.5BUSA)
Anyone have experience deploying Microsoft Phone System (https://docs.microsoft.com/en-us/microsoftteams/what-is-phone-system-in-office-365#phone-system-technology).  We recently deployed MS365 and are looking to update our on-premise Cisco Call-Manager system with Cisco desktop handsets.  Would like to talk with anyone who has deployed MS Phone System.  Thanks in advance.  Cheers, Brian

    Supervising onsite vendors

    VP at a bank ($1.1BUSA)

    Do you have a policy or procedure regarding supervision of onsite vendors?  We are trying to develop guidelines that provide for making sure a vendor isn't accessing information he/she isn't authorized for, while at the same time not unnecessarily tying up employee time watching a vendor work.

      What Basic Functions Should My Loan Origination System (LOS) Perform? | Blog

      Are you in the market for a Loan Origination System (LOS)? If so, do you know what basic functions a loan origination system should complete? What should an LOS vendor provide? Knowing these elements of an LOS and an LOS vendor is critical for senior financial institution executives either shopping for an LOS for the first time or considering an improvement to their bank or credit union’s current business lending process.

      Learn more about what basic functions your LOS should perform in our recent blog. 

        TOMORROW: Mistakes & oversights that lead to third-party vendor problems and what your FI should be doing to prevent them.

        Register for tomorrow's webinar here.

        No one wants to be a vendor management cautionary tale—yet that’s exactly what happens to too many financial institutions. Why does this happen, and what can be done to prevent it? In our webinar tomorrow, we’ll review:
        • The most common vendor management missteps.
        • Lessons learned from recent enforcement actions.
        • Ways to reduce risk across the vendor management lifecycle.
        • The essential elements every vendor management program should have.
        Don’t be caught flat-footed when it comes to vendor management. Make sure you know what to do—and what not to do.

        Register here: https://hubs.ly/H0M8n6Z0

          Looking for Commercial and Ag Loan Sales/Underwriting Program Options

          SVP at a bank ($486MUSA)
          We currently use Sageworks/ Abrigo for managing most aspects of our commercial and ag loans, from sales/ prospect to the application to the credit underwriting and document storage.  We have developed workflows based on the type of loan to help ensure all processes are completed and in the appropriate order.  It also interfaces with our LO solution to eliminate duplicate data entry.  

          While this program does a lot of things for us, our contract is coming up for renewal so I'm wondering if anyone can suggest a similar solution.  Thank you!

            How Not to Manage Vendors: Strategies for Avoiding Costly Vendor Management Mistakes | Free webinar!

            Register for the webinar:
            Thursday, April 29, 2021 @ 2:00 PM CT


            No one wants to be a vendor management cautionary tale—yet that’s exactly what happens to too many financial institutions. Why does this happen, and what can be done to prevent it?

            Join us as we highlight the strategic mistakes and oversights that lead to third-party vendor problems and what your institution should be doing to prevent them. We’ll review:
            • The most common vendor management missteps.
            • Lessons learned from recent enforcement actions.
            • Ways to reduce risk across the vendor management lifecycle.
            • The essential elements every vendor management program should have.
            Don’t be caught flat-footed when it comes to vendor management. Make sure you know what to do—and what not to do. Register here: https://hubs.ly/H0J_r4q0

              How to Lighten Your Vendor Management Workload

              Good day, Bankers! Today we are discussing the most effective ways to reduce your vendor management workload while still ensuring your vendors are properly managed. This post was originally published on the Ncontracts blog.

              The problem with lifecycles is that they are on constant repeat. As soon as they are finished, it’s time to begin anew. 

              This holds true for vendor management—with an added catch. Not only do vendor managers oversee a never-ending cycle—they are managing a separate cycle for every single vendor. It can be an overwhelming job, but there are ways to ease the vendor management workload. From investing some upfront effort into vendor management to knowing which of your activities deliver the most value to the institution, here are the most effective ways to reduce your vendor management workload while still ensuring your vendors are properly managed...

              READ THE FULL ARTICLE: Download the attached PDF

                How to Review Critical Vendors' Cybersecurity

                Good day, Bankers! Today we are discussing how to make sure your institution is following these six steps for reviewing critical vendor cybersecurity. This post was originally published on the Ncontracts blog

                Third-party vendors are frequently responsible for data breaches at financial institutions and other companies. Criminals exploit vulnerabilities of third-party vendors to access data or find ways into a financial institution’s systems.

                A good vendor management program recognizes the threat of data breaches, ransomware, and other cyberattacks. It has a system in place for reviewing and assessing the cybersecurity of critical vendors...

                READ THE FULL PDF: Download the attached PDF

                  9 Steps for Successful New Vendor Onboarding

                  Good day, Bankers! Today we are discussing what financial institutions need to know about onboarding new vendors. This post was originally published on the Ncontracts blog.

                  Financial institutions know that onboarding a new vendor isn’t as simple as signing a contract—especially when it’s a critical vendor. What’s a bank or credit union to do? Read to find out what your financial institution needs to know about onboarding new vendors strategically, efficiently, and compliantly...

                  READ THE FULL PDF: Download the attached PDF

                    COVID-19 Vendor Risk Management: Insights from the RMA | The Ncast Episode 10

                    Have you heard? Ncontracts now has a podcast! The Ncast discusses the key issues facing financial institutions in the governance, risk, and compliance space by interviewing people on the front lines. You can click this link to listen in, or subscribe via your favorite podcast platform.

                    Today we released Episode 10, COVID-19 Vendor Risk Management: Insights from the RMA. This episode is an interview with Sylwia Czajkowska, Associate Director, Operational Risk, at the Risk Management Association (RMA). Our guest discussed the impact of COVID-19 on third-party risk management practices and operations for FIs, based on a recent survey conducted by RMA. We invite you to listen, share, and tell us what you think!

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                      Vendor Feedback - SHIELD

                      Manager at a bank ($647MUSA)
                      Does anyone have experience with this vendor, SHIELD? https://www.shield.com/

                       I manage risk for a mobile banking app and need to get a better handle on device IDs and other red flags that may indicate account takeover. Any vendor providing a device ID, risk score, or other flags may be helpful. I would love to know if anyone has any feedback on this vendor, or any others that you've had a good experience with in managing mobile fraud!



                        Ellie Mae Encompass optimization

                        Manager at a credit_union ($153MUSA)
                        Hello, 

                        Our SW Ohio institution is using the Encompass Broker LOS to process portfolio and wholesale mortgage loans. We would like to maximize our use of its inherent features but also need some administrative help from an Encompass-trained administrator.

                        We're seeking anyone who has used or researched a 3rd party service provider to assist you in optimizing your Ellie Mae Encompass to tailor it to your financial institution.
                        I have reason to believe there are individuals or businesses out there who offer this service.  

                        Any references for assistance are most appreciated. 

                          Translation and Language interrupters

                          Employee at a credit_union ($1.2BUSA)
                          We are wanting to start the huge project of having all our member documents translated in other languages. We will be rolling this out in stages based on product need of the majority of the members. However I am hoping to find some independent vendor referrals. Does any one use Language line,  Shark, or Translaions.com? Who do you use? 
                          And as a secondary thought, how do you rate the criticality of this vendor? They don't have consumer data or any proprietary data but we are heavily relying on  them from a compliance standing. My gut says infrastructure with Liability verification. 
                          I did search the topic but I saw similar questions with very few responses.

                            What Will Examiners Be Looking for in 2021? | Free Webinar Next Week!

                            What should a financial institution be doing to prepare and get exam-ready in 2021? Ncontracts will answer these questions and more as we dig into the regulatory agencies’ supervisory priorities, share our own insights, and link it all to best practices to help ensure your institution is ready to take on 2021!

                            Areas to cover include:
                            • Regulatory hot topics
                            • Fair lending
                            • Remote exams
                            • Risk management trends
                            • COVID-19 response
                            • Lessons learned from recent enforcement actions

                            Don’t get caught off guard at exam time. Join us to make sure your institution is managing risk and compliance in a way that aligns with examiner priorities! Register here.