Tag Archives: Vendor Management System

CWM in Financial Services: How to Find the Skillsets You Need in the Global Contingent Workforce

October 1, 2015 | Leave a Comment By Brian Hoffmeyer

The Financial Services industry has never been more complex. As discussed in the first two posts of this four-part blog series, “CWM in Financial Services,” external regulations and internal governance are creating tough challenges for banks, investment firms, insurance agencies and other Financial Services organizations.

How can you overcome these and other challenges and capitalize on opportunities when they arise? One important strategy is to have the right people in the right roles in your organization. That starts with traditional full-time employees, but increasingly includes the contingent workforce. Continue reading

CWM in Financial Services: Critical Controls to Ensure Corporate Governance (and Great Hires)

September 22, 2015 | Leave a Comment By Kieran Brady

As discussed in the first installment of our “CWM in Financial Services” blog series, Financial Services organizations face a wide range of external regulations. But they also face strict internal governance. From the boardroom to the server room, every employee and business unit must meet the demand for visibility and accountability. Yet nowhere, perhaps, is compliance and governance more imperative than when dealing with third-party vendors and employees. Continue reading

CWM in Financial Services: 4 Strategies for More Efficient, Effective Regulatory Compliance

September 14, 2015 | Leave a Comment By Matt Katz

Regulatory compliance in the Financial Services industry continues to grow in scope and complexity. Greater scrutiny, tighter controls, lost returns, and a constantly changing interpretation of risks all contribute to today’s unprecedented environment. While many of these regulations protect the consumer, they create significant challenges within Financial Services organizations. In this first post of our four-part blog series, “CWM in Financial Services,” let’s take a look at how you can address these challenges.Image courtesy of Stuart Miles at FreeDigitalPhotos.net

Overcoming regulatory obstacles can be as complicated as the regulations themselves. To navigate these compliance concerns, Financial Services institutions need the right people with specific skillsets, often on short notice, under a restricted budget, and in a marketplace with steep competition. Yes, hiring contingent labor helps meet these needs. But it comes with its own complications. Continue reading

Is Your Contingent Workforce Management Program at Risk…of a Shark Attack?

August 21, 2015 | By Brian Hoffmeyer

Fonzie_jumps_the_sharkAmateur and professional critics love to talk about when a TV show “jumps the shark.” The idiom refers to the point when a television series runs out of ideas and resorts to stunts in an attempt to retain viewer interest. It’s derived from a scene later in the Happy Days run, when The Fonz waterskies over a shark.

Contingent workforce management (CWM) programs have to similarly stay fresh to succeed. Not by guessing what might work or taking risks like The Fonz. But rather, by adopting industry best practices and proven technologies that will ensure ongoing program ROI and much-needed controls. Continue reading

VMS 101: Big Risk, Bigger Control

June 5, 2015 | Leave a Comment By Louay Bachir

vms101I’m a believer that there are times in business (and life) when taking risks is necessary. However, managing your contingent workforce isn’t one of them, and the risks will only grow given that the demand for contingent workers is expected to increase in the coming years.

Typical internal systems and processes related to managing the contingent workforce are disjointed and inefficient, making it impossible for contingent workforce management (CWM) programs to effectively mitigate risk. Program risk comes in many forms and often doesn’t expose itself until it’s far too late. Continue reading