TOPIC: Vendor

Don't Miss Out! February Webinar - Mastering UDAAP Vendor Risk

You are invited to our February webinar discussing the do's and don'ts of mastering UDAAP vendor risk. Register for free today! If you are not able to make it to the live event, the recording will be available for download afterwards.

Violations of unfair, deceptive, or abusive acts or practices (UDAAP) are among the most common—and expensive—enforcement actions that banks and credit unions face. Yet these violations don’t occur in a vacuum. They are preventable with careful risk management.

Join us for an engaging webinar for practical insights into:

  • Activities that pose significant UDAAP risk
  • UDAP vs UDAAP
  • Why consumer complaints matter
  • Analysis of violations: Mortgage servicing and payments (e.g., credit cards and offsets)
  • Avoiding violations with internal and external controls
  • How to risk assess policies and procedures to avoid internal UDAAP transgressions
  • Controlling third-party UDAAP risk

Don’t miss this opportunity to learn how to manage and mitigate UDAAP risk.

Register Today!

    February Webinar: Mastering UDAAP Vendor Risk

    You are invited to our February webinar discussing the do's and don'ts of mastering UDAAP vendor risk. Register for free today! If you are not able to make it to the live event, the recording will be available for download afterwards.

    Violations of unfair, deceptive, or abusive acts or practices (UDAAP) are among the most common—and expensive—enforcement actions that banks and credit unions face. Yet these violations don’t occur in a vacuum. They are preventable with careful risk management.

    Join us for an engaging webinar for practical insights into:

    • Activities that pose significant UDAAP risk
    • UDAP vs UDAAP
    • Why consumer complaints matter
    • Analysis of violations: Mortgage servicing and payments (e.g., credit cards and offsets)
    • Avoiding violations with internal and external controls
    • How to risk assess policies and procedures to avoid internal UDAAP transgressions
    • Controlling third-party UDAAP risk

    Don’t miss this opportunity to learn how to manage and mitigate UDAAP risk.

    Register Today!

      Is This Partnership a Right Fit? More than 50 Banks Found Out Firsthand.

      In January, 56 community banks from 20 states joined Bankers Healthcare Group for a behind-the-curtain experience at our Informational Regional Seminar in Nashville, Tenn.

      Our 75 attendees heard from BHG’s Founder/Chairman/CEO Al Crawford and c-suite leadership team in finance, credit, underwriting, compliance, marketing, sales, and analytics. This was a great opportunity for them to learn about our business model, commercial medical loan program and financial strength, and uncover new revenue opportunities for their banks.

      We had a great mix of prospective customers and current customers from some of BHG’s 940 bank partners, which gave everyone a chance to network and learn. Prospective customers love to hear about the experiences of current customers, while current customers appreciate the business and product updates, as well as the opportunity to connect with key BHG contacts.

      Our seminars are a great way to get to know BHG—and we hold them throughout the year, across the country. If you’d like to attend an upcoming seminar, please email bhgbanks@bhg-inc.com or call 877-731-6562 to get the details!

      About BHG: Bankers Healthcare Group (BHG) is the leading provider of financial solutions for licensed healthcare professionals. The company originates, underwrites and funds medical and professional loans before selling them to local banks nationwide.

      To date, BHG has underwritten nearly $15 billion in commercial loan requests with an average size of $100,000, providing a network of more than 940 U.S. community banks a source for premium loans, portfolio diversification, and competitive yields without overhead costs traditionally associated with this quality borrower. Banks purchase BHG loans through a secure, online system that allows for daily sale and delivery of loans. This has been a highly effective channel for a bank to quickly approve and purchase loans according to their underwriting standards. BHG’s 2018 sales distribution has averaged $4 million per day and new loans are posted daily.

      Pinnacle Financial Partners, Inc., and its subsidiary Pinnacle Bank hold a 49% total interest in BHG.

        Educational Seminar in Nashville, 2019

        See why more than 925 of your peers have purchased loans from Bankers Healthcare Group, at the upcoming Nashville Info Seminar.

        • Engaging seminar - Hear from the Founder/CEO and the c-suite leadership team in finance, credit, regulatory, marketing, sales and analytics.
        • Understand the 5 convenient, hassle-free methods to purchase loans.
        • Discover additional revenue opportunities for your bank:
          • Consumer loans to licensed medical and other professionals
          • Patient lending – connecting community banks to hospitals and surgery centers
        • Network with key BHG personnel and other community banks from around the US.

        Email us at bhgbanks@bhg-inc.com or call 866-461-5069 to find out the details!

        "The BHG Info Seminar was an excellent experience. We are new to BHG, having just purchased our first loan last month. It’s was a valuable experience to have the company’s staff answer your questions and talk to other banks who have experience with BHG. I was able to learn how they manage their portfolio and loan terms. The event was first-class, all the way. I came away very impressed with BHG." – Minnesota Bank President

        About BHG: Bankers Healthcare Group (BHG) is a well-established, direct lender that has a commercial loan program specifically tailored to the business needs of licensed healthcare and other professionals. BHG has provided over $4 billion of these originated, underwritten and funded loans to 925+ community banks throughout the US since 2001.

          Shelved Elves: Santa Ponders the Risks and Rewards of Outsourcing Toy Making

          Hello, Bankers! Ever wonder what would happen if Santa outsourced toy making to third-party vendors? We did. This post originally appeared on the Ncontracts blog.

          Shelved Elves: Santa Ponders the Risks and Rewards of Outsourcing Toy Making

          It’s crunch time at the North Pole, and Santa is worried. Despite his elves’ best efforts, he’s not sure they are going to be able to produce all the toys he needs by Christmas Eve. He’s wondering if it might be a good idea to outsource toy making...

          READ THE FULL PDF: Download the attached PDF

            BSA Language for Vendor Contracts

            VP at a bank ($2.3BUSA)

            I am looking for some "standard" BSA language for use in a vendor contract with a Non-bank Financial Institution relating to overall BSA and specifically addressing adherence with the U.S. Patriot Act and the FIs reliance on the vendors compliance.

              Free December Webinar! Tracking Exam and Audit Findings

              You are invited to our December webinar discussing best practices for tracking and avoiding exam and audit findings. Register for free today! If you are not able to make it to the live event, the recording will be available for download afterwards.

              Standard compliance protocols are set to ensure that processes are followed by management and employees, internal audit, external audit, and government review. In spite of those checks and balances, examiners and auditors uncover deficiencies in your processes, and it falls to your team to resolve them. These issues can be the proverbial ‘hot potato’ on who takes the necessary action on the findings. It’s common for the findings to revolve around third-party risk, business continuity issues, and compliance areas. This webinar will address:

              • The dangers of only using Excel spreadsheets to manage findings
              • Best practices for policies and procedures to avoid findings in the first place
              • How to track to guarantee complete remediation of findings
              • The benefits of testing your remediation to ensure changes take effect
              • Best practices of vendor management, business continuity planning, and compliance to help your financial institution avoid findings

              Register Today!

                Free November Webinar! How to Leverage SOC and SSAE 18 Reports

                You are invited to our November webinar about leveraging SOC and SSAE 18 reports in every department of your FI. Register for free today! If you are not able to make it to the live event, the recording will be available for download afterwards.

                Vendor management is typically overseen by one or two people at the financial institution, but actually every employee who outsources services is responsible. Do your colleagues know how to read, review and use SOC and SSAE 18 reports? Can you teach them how to follow these and other important vendor management practices?

                In addition to assessing your critical vendors’ IT security controls, you have to look down the line at your vendors as well as your vendors’ critical vendors. Luckily SOC and SSAE 18 reports eliminate that problem for financial institutions that know how to interpret these critical vendor due diligence documents and integrate it into their vendor and enterprise risk management programs.

                This webinar will show you and your colleagues the best way to gain efficiencies by helping you:

                • Define how these reports scope out inherent risk
                • Recognize fourth-party risk
                • Understand how SOC and SSAE 18 reports assess the appropriateness of IT security internal controls
                • Discover what these report results mean for your bank’s IT security and vendor management
                • Devise strategies for analyzing data from longer and more complicated audit reports
                • Communicate the importance of these reports to other department heads who may not be adept at risk management processes

                Register Today!

                  The Human Side of Vendor Management

                  Good afternoon, Bankers! Today we will discuss a better way to select and work with your vendors. This post originally appeared on the Ncontracts blog.

                  The Human Side of Vendor Management

                  How taking a page from human resources can improve vendor relationships - and results

                  Service vendors are valuable resources that should be carefully managed. Successful financial institutions are finding that managing their vendors like their personnel leads to mutual success...

                  READ THE FULL PDF: Download the attached PDF

                    Free September Webinar! Vendor Management Includes Vendor Selection: How to Shop for the Right Vendor

                    You are invited to our September webinar discussing vendor selection. Register for free today! If you are not able to make it to the live event, the recording will be available for download afterwards.

                    September typically kicks off the budget planning season for the coming year, and you and your colleagues may be asked to start the process to choose a new vendor. With the 5 P’s tenet of Proper Planning Prevents Poor Performance, we’ll share our best practices to map out the methodology necessary to select the right vendor – and for the right reasons. Some items covered will include:

                    • Conducting a needs assessment for the vendor/program that coincides with the FI’s business and operational objectives
                    • Identifying key stakeholders internally for consensus building prior to the onset of the project
                    • Building a list of possible vendors
                    • Writing an RFI, RFP and/or RFQ as well as interview/demo questions
                    • Creating a vendor evaluation scorecard as well as SLAs
                    • Deciphering vendor due diligence packages and drafting contractual language
                    • Saying ‘no’ to the vendors not selected - with feedback
                    • Rolling out a successful onboarding/implementation plan

                    This webinar will be chock full of tips that will help you effectively deal with both potential as well as existing vendors with your outsourced technology platforms.

                    Register Today!

                      Your Vendor Shortlist is Not a State Secret

                      Good afternoon, Bankers! Today we will discuss a smarter way to shop around for vendors. This post originally appeared on the Ncontracts blog.

                      Your Vendor Shortlist is Not a State Secret

                      Keeping it to yourself can only hurt your institution

                      Your financial institution is in the market for a new vendor. You have a shortlist of potential partners. Now do something revolutionary with it: Let the vendors know who they’re competing against...

                      READ THE FULL PDF: Download the attached PDF

                        Preventing the Top 3 Vendor SLA Mistakes

                        Good afternoon, Bankers! Today we will discuss SLA mistakes and how to avoid making them. This post originally appeared on the Ncontracts blog.

                        Preventing the Top 3 Vendor SLA Mistakes

                        Service-level agreements can be one of the most effective tools in a financial institution’s vendor management arsenal, but too many institutions make major mistakes when crafting SLAs...

                        READ THE FULL PDF: Download the attached PDF

                          When Third-Party Vendors Mean Quadruple the Risk

                          Good afternoon, Bankers. Today we are discussing the hidden risks behind fourth-party vendors. This post originally appeared on the Ncontracts blog.

                          When Third-Party Vendors Mean Quadruple the Risk

                          How fourth-party vendors may be costing your institution

                          Are you fully measuring risks and costs? If your vendors are outsourcing, you may be underestimating your exposure to fourth-party vendors...

                          READ THE FULL ARTICLE: Download the attached PDF