AFSA University Launches Module Focusing on Vendor Management

AFSA University recently released a new module on vendor management. The module addresses the Consumer Financial Protection Bureau’s expectations that financial institutions have an effective process for managing the risks of service provider relationships. The module helps AFSA member company employees understand their compliance responsibilities when dealing with vendors, as well as understand the types of risk of vendor relationships, and vendor compliance under federal law. The module also provides suggestions that financial institutions should take into consideration to try to avoid unwarranted risks to consumers from business arrangements with service providers.

The module takes approximately 30 minutes to complete, with a 15-minute test at the end. If you are an AFSA University user, it can be found under the custom content lessons. If you are interested in our compliance training program or would like to preview AFSA University modules, please contact Alejandra Krasnow, Director Operations & Compliance at akrasnow@afsamail.org