American Bankers Association Insurance Risk Management Forum "What's the Risk? Contractual and Insurance Considerations for Financial Risk Managers"

DATE: Sunday, January 28, 2024

TIME: 2:45 PM - 3:30 PM

VENUE: Amelia Island Resort

ORGANIZER: American Bankers Association

Third Party Risk Management Regulators have recently increased their attention on Third Party (and even Fourth Party) Vendor Risk Management in light of banks’ reliance on their vendors and breaches at core banking servicing companies.  Among other areas, focus has been on risk assessments, data, sourcing, contract management tools and supplier diversity.  How can banks manage and account for these risks?  This session will address these concerns, including possible contractual requirements regarding indemnity and insurance requirements, potential contractual pitfalls, types of insurance that may cover potential losses, and what banks and their risk managers should consider both proactively (at the contract stage), and reactively (in the event of such a loss).

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