ELIZABETHTOWN, Ky. (PRWEB) February 14, 2018
Venminder, a leading provider of third party risk management solutions, announced a new Thought Leadership interview series, which is an online resource to exclusive third party risk industry leader interviews. The very first interview was with David Stevens, CMB, President and CEO of Mortgage Bankers Association (MBA).
Per Stevens, “It’s an interesting paradox that we’re in which is you have to have a third party vendor relationship in order to control your cost and have checkers checking the checkers, but on the other hand, you also need to be certain that those vendors are providing accurate compliance feedback and information because in the end of the day, they are not the ones on the hook, it’s the institutions that create those mortgages.”
This educational interview covers cost benefit analysis of compliance, regulations that effected and are currently impacting the lending industry, outsourcing risk management functions, third party risk strategy, advice from the MBA perspective on consumer data, lessons learned from the housing crisis and the CFPB relation to regulatory compliance.
Listen to the exclusive interview between Stevens and interviewer Steve Greenfield, CMB, Venminder’s Director of Third Party Risk, here.
The plethora of informative industry information doesn’t end there. Greenfield also interviewed the following industry leaders:
- Shane Martin, EVP of InHouseUSA – Learn more about the Appraisal Management Company (AMC), Appraisal Management Software and areas of risk to pay close attention to when an AMC is your fourth party vendor here.
- Suresh Ramakrishnan, SVP of Ascendum Solutions – Learn more on how outsourcing third party risk management can provide greater efficiencies, reduce your workload and help with cost management here.
“We live in a whole new world of third party risk,” said Dana Bowers, CEO and founder of Venminder. “It’s a regulatory hot button for a reason. The amount of data shared and the level of dependencies on third (and fourth) parties grows daily. We’re excited to share the experience and insights of experts who fight the good fight daily.”
Venminder would like to extend a thank you to Stevens, Martin and Ramakrishnan for participating in the launch of our Thought Leadership interviews. Subscribe to the series here, and catch new interviews periodically on Venminder’s website for more impactful updates in the third party risk management industry.
Venminder works with clients to manage vendors, mitigate risk and reduce the huge workload associated with third party risk management. Tactical challenges can be outsourced to the firm including: collecting compliance documentation, analyzing a vendor’s financial health, deploying paralegals to assist and review with vendor contracts, reviewing a vendor’s SOC reports, monitoring the vendor’s cybersecurity posture and much more.
Venminder also has a dedicated third party risk management software solution that can automate the process. The SaaS based software can guide users through critical processes such as risk assessments, questionnaires, due diligence requirements as well as providing extensive analytics and reporting for management reviews. It is a “must have” answer to meeting increasing regulatory requirements and mitigating vendor risk. Learn more at: http://www.venminder.com.