IAOP Chapter Meeting: OCC Compliance

Written by Sreekanth

The IAOP Governance chapter, co-chaired by Neo Group, Applied Materials, Blue Shield of California, and Boston Scientific in conjunction with the Financial Services Chapter, co-chaired by Wells Fargo, will host a discussion on recent OCC regulations and their impact on third party oversight in the Financial Services Industry.

Topic: OCC Compliance
Date: June 19, 2014
Time: 2:00 PM EDT (11:00 AM PDT/1:00 PM CDT)
Location: Online Webinar

Join Neo Group Senior Vice President, Alan Hanson, as he moderates a panel discussion with industry experts from Wells Fargo, Baker & McKenzie and The Santa Fe Group as they discuss:

Bank-Owned Operations: Increased OCC guidance treats bank-owned centers as third-party providers. Industry leaders will discuss how their teams have addressed these mandates and the effect it has had on the business unit.

Due Diligence: What are the specific due diligence areas, including: legal and regulatory compliance; fee structure and incentives; risk management systems; human resource management; conflicting contractual arrangements.

Contract Negotiations: Increased responsibility to map contract requirements related to the third party plan; and new requirement to seek Board of Directors approval for contracts related to critical activities.

Ongoing Monitoring: Based on the OCC regulations what constitutes sufficient and appropriate staff to monitor and manage third party performance, throughout the term of the contract based upon the level of risk exposure?

Termination: The OCC has introduced a new requirement for third party risk management – termination. Specifically, a detailed contingency plan that outlines how you will manage those services in-house once the relationship is terminated.

NOTE: IAOP Chapter Meetings are open to IAOP Professional Members only. Not yet an IAOP Professional Member? Sign up for a complimentary Associate Membership, which allows you to attend up to two chapter meetings as a guest and access select online resources. Create your Associate Membership now and then register online for this chapter meeting.

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