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 Third-party Risk Management

Chapter Event
11/18/2015 8:45 AM
11/18/2015 12:45 PM
Traditions at the Links |  

8:45 Registration
9-10 breakfast (buffet)
10-11:45 program
11:45-12:45 board meeting​

CPE: 2 Category Auditing
$30 for members, $40 for non, and $15 for students/retirees

RSVP: By Nov 13 to Sarah Pickering at or 315.568.1156 

3rd Party Risk Management:  It’s not optional; it’s a MUST 

In recent years, many organizations have realized the risks presented to them as a result of contracting with certain (often critical) third parties.  Financial institutions in particular have felt the pressure from their regulators to ramp up their third party risk management efforts.  However, all organizations – regardless of industry – should be aware of the risks presented by each of the third parties that they do business with and expend the necessary effort to mitigate those risks to the best of their ability.  

For some organizations, just knowing where to start can be the most daunting task.  This might mean analyzing hundreds or even thousands of third party relationships to uncover the exposures they introduce to the company.  Formulating a disciplined process to monitor their third parties that is right-sized for their company can also be a challenge.  Regardless of where your organization’s third party risk management activities stand, maturing them to keep pace with the ever-growing list of threats is imperative. 

This session will begin with a history lesson to highlight the importance of third party risk management and the potential consequences when it’s not prioritized appropriately.  Then, you’ll learn about the approach that one financial institution recently took to inventory and risk-rank their third parties, and its desire to upgrade the third party risk management program.  It will conclude with an in-depth analysis and discussion of best practices   throughout the entire third party risk management lifecycle including: (1) risk assessment; (2) due diligence; (3) contract negotiation; and (4) ongoing monitoring. 


Len Chinski, CIA, CRMA, CFIRS serves as Director of Audit for NBT Bancorp Inc. Len oversees the Internal Audit function of NBT, which is responsible for assessing the internal control environment and risk management activities of all key areas of the organization. 

Previously, Len served as Vice President and Fixed Income Capital Markets Compliance Officer for Janney Montgomery Scott LLC, a large regional brokerage firm headquartered in Philadelphia, PA. Prior to that he was with M&T Bank in Buffalo, NY for over 15 years, progressing from Staff Auditor to the position of Administrative Vice President and Assistant General Auditor. He also held a senior compliance position with M&T Securities Inc., M&T’s brokerage firm affiliate, where he supported their fixed income capital markets business. 

Len earned his Bachelor of Science degree in Accounting from Canisius College (Cum Laude). He is a Certified Internal Auditor and a Certified Fiduciary & Investment Risk Specialist, and holds a Certification in Risk Management Assurance.  

Bryan Green, CIA is an Assistant Vice President and Audit Manager at NBT Bancorp Inc.  Prior to Joining NBT in 2010, Bryan spent 6 years in the Audit Department of M&T Bank in Buffalo, NY.  In addition to the Central NY Chapter of the IIA, Bryan is also a member of the Empire Chapter of the Risk Management Association (RMA) where he serves on the Board of Directors and is the Chair of the Audit Committee.  Bryan is a graduate of St. Bonaventure University.​