1 Due Diligence and Effective Vendor Management Corporate America Credit Union 30 th Annual Meeting May 1, 2012
2 Your Speaker David A. Reed Attorney at Law (703) Reed & Jolly, PLLC Fairfax, VA
3 Why Do We Care About Contracts? Contract management is a unique convergence of the practical, technical and compliance areas. How much of your budget is contract dependant? You need a process to understand, review, negotiate, execute and monitor all of your Credit Union s contracts.
4 Basic Truths About Credit Unions Most credit unions have at least one invisible vendor. Most credit unions are better at vendor selection than monitoring. Many credit unions don t consider a CUSO to be a vendor. Bad news does not always travel up. Some employees get captured by a vendor. 4
5 Behind the Curtain Looking at the PROCESS more than the decision (but both are essential) We see the vendors easily. Now the questions are: What do they do? What are the risks? How were they selected? How are they integrated within CU operations? 5
6 Benefit of the Bargain The credit union needs to be on guard to ensure they are receiving the full value of the products and services for which they have contracted. Does the credit union even track this concept? 6
7 Typical Vendor Relationships CUSO Relationships Lending Services Payment Systems Auditing and Management Consulting Services Asset Liability Management BSA and OFAC Data Processing Internet Banking Services 7
8 Elements of An Effective Program Step 1: Risk Assessment and Planning Step 2: Effective Vendor Selections Step 3: Contractual Considerations Step 4: Measuring, Monitoring and Controlling Risks
9 Nature of Third Party Risks CU is not in direct control of its operations They hand over the process, resources and control to a third party Critical functions deserve special attention What could possibly go wrong? 9
10 Vendor Risk Assessment A proper vendor risk assessment will list all third party relationships and the exact services each provides; identify the strategic importance of each service; and determine the risk each poses to credit union operations. Risk assessments are a dynamic process and should be a regular component of a broader risk management strategy. Just an Excel spreadsheet!
11 Risk Assessment: Specific Inquiries Expectations for Outsourced Functions Criticality of Relationship Staff Expertise Cost-Benefit Relationship/Risk-Reward Insurance Coverage Impact on Membership Exit Strategy 11
12 What is a Contract? A contract is an agreement between two or more parties to do, not do, or promise something. Contracts can come in many forms they can be oral or written, implied or express, and legally enforceable or not. The strongest contract, in terms of enforceability, has an: offer, acceptance, consideration for the exchange, clearly sets out the terms of the agreement without ambiguity, and is signed by the involved parties with proper capacity to enter into the contract.
13 Big Picture Issues Parties What are You Getting Term Price Termination Traps exclusive use? Backdoor can we get out? Data Security!
14 Think About It A contract is a vendor s wish list! It contains every right they want and limits the credit union s options What is the result of not negotiating? 14
15 NCUA: Minimum Scope Scope of arrangement, services offered, and activities authorized; Responsibilities of all parties (including subcontractor oversight); Service level agreements addressing performance standards and measures; Performance reports and frequency of reporting; Penalties for lack of performance; Ownership, control, maintenance and access to financial and operating records; Ownership of servicing rights; Audit rights and requirements (including responsibility for payment); Data security and member confidentiality (including testing and audit); Business resumption or contingency planning; Insurance; Member complaints and member service; Compliance with regulatory requirements (e.g. GLBA, Privacy, BSA, etc.); Dispute resolution; and Default, termination, and escape clauses.
16 Negotiation Is Required! Of particular importance, credit unions should exercise their right to negotiate contract terms with third parties for mutually beneficial contracts. In addition to a legal review of contracts and written agreements relevant to a prospective third party arrangement, it may be prudent for credit unions to obtain a legal opinion about any services provided by the third party under the arrangement.
17 Housekeeping Does Anyone Know How Many Contracts the Credit Union Has? Who has the Contracts? Is there: a List with Name of Provider; Description of Service; Termination Dates; and, Notice of Non-renewal Date Requirements? Can You Find Correspondence with the Vendor and Amendments and Modifications?
18 Contract Basics Are All the Pieces of the Puzzle There? Reed & Jolly: Forget what the Sales Rep said all that web-site stuff, visits to the home office, other credit union users and pamphlets and promotional material ARE NOT PART of the contract unless incorporated by reference. Keep copies anyway. Key Contract Provisions Examples Price, Term, Termination, Warranties, Liability, Boilerplate, Exhibits & Attachments Special Attention: Privacy, Indemnification, Early Termination, Deconversion and - Breach
19 Basic Contract Negotiation Tips Remember who created the contract form and who it will benefit (Rule of Construction) Get a copy of their contract as early as possible If the language works, keep using it If changes are agreed to, put them in the contract! Nothing sacred about boiler plate language Where did that term come from anyway? Reed & Jolly: Contract renewal means vendor re-selection.
20 Negotiating the Deal Who is on the Team? Usually User, Finance, Compliance Importance to CU Operations? Timing? Price? Lead Person Must read every word, Make sure files are complete, Everyone with a need to know buys in, Keeps things moving Use of outside Consultant/Counsel Set minimum threshold for outside review (dollar, mission), document decision not to send outside. Remember - reasonable expectation they don t know your operations the way you do!
21 Negotiating the Deal All Contracts involve Compromise Your vendor due diligence will give you an understanding of what is available for the service being purchased, the price and whether the vendor you select is reliable Identify Vendor Contacts as Negotiations begin With authority to make changes, respond to questions
22 Negotiating the Deal Understand Your Bargaining Position Changes often require legal review by Vendor Adds Cost, Delay You will often hear legal won t let us change it. Your Attorney/Consultant must know credit union operations (not necessarily a collection attorney), should identify show stoppers, suggest language
23 Negotiating the Deal Set Realistic Expectations Price & Term are usually negotiable You deserve a clear statement in the Contract of what the Product/Service is and is expected to do Privacy and Data Security Must Meet Minimum Compliance Standards aim high. Reed & Jolly: Always be prepared to walk away.
24 If You Can t Tell What You Are Getting for Your Money in the First Part of the Agreement, You have a Problem
25 Start at the End My Job 1. I have read the contract, including all attachments and exhibits. 2. All terms and conditions of the contract conform with the final negotiations / agreements of the parties. Done 3. No supplementary verbal or written agreements were made. 4. All documents incorporated by reference in the contract, including exhibits and appendices, are attached. 5. The contract adequately describes all that the other party must do to make the project work. 6. Those carrying out the contract can meet the terms of the contract (e.g., the work can be completed, and it can be completed according to any time limits provided in the contract; we will be able to hire the personnel specified in the contract, etc.). 7. Everyone necessary at the Credit Union has signed off on the project, i.e., budget, senior management, project responsible parties/users. 8. This contract does not conflict with any other contracts, promises or obligations of the Credit Union, e.g., exclusive use.
26 Document Everything! It is not going to be enough to have gone through this process. You must document your efforts and findings, and keep this information in a readily accessible (and readable) format!
27 Effective Problem Identification Every contract should have a responsible party assigned to it Understand what the relationship is suppose to provide Be realistic! Conduct regular performance assessments Keep a log of all problems date, nature of problem, key parties, and resolution Remember: Lots of small problems could be a BIG problem
28 What Happens if Something Goes Wrong? Basic contract breach scenarios Minor default Material default What is the vendor s right to cure? Always look at the end game You have already determined alternative vendors and exit strategies in your Risk Assessment
29 Communicating Problems Be clear Give specific examples Dates and Times Are Important Offer your desired resolution Give a timeline for an expected resolution Remember with whom you spoke Name and title are important Keep notes, document everything!
30 Creating a Paper Trail Use s or letters Remember the evidence rule Keep correspondence short, clear, and concise Stay away from accusations and emotions Save them in a file!
31 Benefits of a Paper Trail Memorializes the issues Creates an easy to follow timeline Lets a third party easily review the nature and history of the issues Hard to refute correspondence Admissible in court Reed & Jolly: It is much easier to rely on a document than on the recollection of a telephone call.
32 A Final Look Do Your Vendor Due Diligence Keep a Complete File of Everything the Sales Rep said and You Received from the Company Negotiate Hard but Realistically Put Details in the Proposal Get the Contract ASAP to Begin the Review
33 A Final Look Focus on Term, Price, Security and Contract Clarity can you put the pieces together Lock Down Internal Accountability Issues Monitor Performance Like a Hawk Pounce on Nonperformance and Document It Check the Invoices No Surprises Remember Contract Renewal Means Renegotiation
34 Regulatory Guidance NCUA Letter to CU 01-CU-20 NCUA Letter to CU 04-CU-13 NCUA Letter to CU 07-CU-13 & Supervisory Letter NCUA Letter to CU 08-CU-19 Part 748 NCUA Rules and Regulations Part 701 & 741 NCUA Rules and Regulations (Indirect Auto Lending) AIRES Exam Questionnaires 34
Outsourcing Technology Services A Management Decision A Telephone Seminar for National Banks Tuesday, July 20, 2004 And again on Wednesday, July 21, 2004 Agenda Outsourcing activities and relationships
Risk Management of Outsourced Technology Services November 28, 2000 Purpose and Background This statement focuses on the risk management process of identifying, measuring, monitoring, and controlling the
Statement of Guidance: Outsourcing All Regulated Entities 1. STATEMENT OF OBJECTIVES 1.1. 1.2. 1.3. 1.4. This Statement of Guidance ( Guidance ) is intended to provide guidance to regulated entities on
An Overview for Bank Directors Managing the Third Party Relationship Patrick Neuman Boardman & Clark LLP Madison, Wisconsin Any business relationship between a bank and another entity, by contract or otherwise
Tool QQ Early Childhood Iowa CONTRACTING FOR SERVICES This tool provides an overview of the components of a contract. If your ECI area board currently uses contracts to purchase services, use this tool
RLI PROFESSIONAL SERVICES GROUP PROFESSIONAL LEARNING EVENT PSGLE 121 Contract Clauses: An In-Depth Study of Key Contract Provisions Copyright Materials This presentation is protected by US and International
Guidance Note GGN 221.1 Managing Outsourcing Arrangements 1. This Guidance Note provides further detail on the requirements for managing material outsourcing arrangements (refer Prudential Standard GPS
Guidelines for Financial Institutions Outsourcing of Business Activities, Functions, and Processes Date: July 2004 1. INTRODUCTION Financial institutions outsource business activities, functions and processes
MODULE 3: ONGOING MANAGEMENT Purpose of module This module has the following objectives: To emphasise the importance of ongoing management of any contract, and of meeting the University s contractual obligations;
VENDOR MANAGEMENT: Responsibilities and Risk Mitigation Saltmarsh Compliance Funnel Patricia M. Hernandez September 22, 2016 TODAY S OBJECTIVES Review vendor management guidance issued by the FED, OCC,
Financial Services Group To: Our Clients and Friends March 25, 2014 A Significant Change Is Occurring Regarding Regulatory Oversight of Banks and Their Third Party Relationships. Both Banks and their Vendors
& GUIDE Included: Overview Dos and Don ts Checklist Product Supply Agreement Instructions Sample Product Supply Agreement (0109) 1. Overview Globalization has had a tremendous impact on trade and business
Understanding the Fundamentals of Credit Union Third-Party Vendor Due Diligence November 20, 2014 2 p.m. E. Andrew Keeney, Esq. Kaufman & Canoles, P.C. Sponsored by Affinion Benefits Group E. Andrew Keeney,
Due Diligencing Investment Advisers and Outsourced Service Providers By Shane B. Hansen, Partner Warner Norcross & Judd LLP April 30, 2015 Introduction The selection of investment advisers, including subadvisers,
Advanced AMC, Inc.. Appraiser Services Agreement (Independent Contractor Agreement) This Appraiser Services Agreement ( Agreement ) shall be effective as of the Effective Date by and between Advanced AMC,
Proposed Principles to be addressed in APES GN 20 Outsourced Accounting Services Roles and Responsibilities The proposed Guidance Note 20 Outsourced Accounting Services (GN 20) will set out the various
APES GN 30 Outsourced Services Prepared and issued by Accounting Professional & Ethical Standards Board Limited ISSUED: March 2013 Copyright 2013 Accounting Professional & Ethical Standards Board Limited
PRINCIPLES ON OUTSOURCING OF FINANCIAL SERVICES FOR MARKET INTERMEDIARIES TECHNICAL COMMITTEE OF THE INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS FEBRUARY 2005 Preamble The IOSCO Technical Committee
GUIDELINES FOR THE ENGAGEMENT OF EXTERNAL CONSULTANTS/PROFESSIONAL SERVICES AT MEMORIAL UNIVERSITY INTENT: 1. To ensure due diligence and consistency is followed in the solicitation, selection, contract
THE FOLLOWING GUIDE DOES NOT RESTRICT ANYONE FROM CONTRACTING FOR SERVICES ON TERMS AND CONDITIONS DIFFERENT FROM THOSE BELOW. THE USE OF ANY CLAUSE IS STRICTLY VOLUNTARY. NEITHER THE AMERICAN TRANSLATORS
CFPB Readiness Series: Compliant Vendor Management Overview Legal Disclaimer This information is not intended to be legal advice and may not be used as legal advice. Legal advice must be tailored to the
World Council of Credit Unions Annual Conference Credit Union Liability with Third-Party Processors Andrew (Andy) Poprawa CEO, Deposit Insurance Corporation of Ontario Canada 1 Credit Union Liability with
NCUA LETTER TO CREDIT UNIONS NATIONAL CREDIT UNION ADMINISTRATION 1775 Duke Street, Alexandria, VA 22314 DATE: August 2008 LETTER NO.: 08-CU-19 TO: SUBJ: Federally Insured Credit Unions Third-Party Relationships:
NCUA LETTER TO CREDIT UNIONS NATIONAL CREDIT UNION ADMINISTRATION 1775 Duke Street, Alexandria, VA 22314 DATE: August 2010 LETTER NO.: 10-CU-15 TO: SUBJ: REF: Federally Insured Credit Unions Indirect Lending
GUIDANCE FOR MANAGING THIRD-PARTY RISK Introduction An institution s board of directors and senior management are ultimately responsible for managing activities conducted through third-party relationships,
IT Outsourcing Contracts Guidance On Building The Legal Infrastructure And Dispute Resolution Strategies Rajesh Sreenivasan Partner, Rajah & Tann 14 July 2005 1 Outsourcing Agreements - General The transfer
Morgan Stanley Policy for the Management of Third Party Residential Mortgage Servicing Providers Title Policy for the Management of Third Party Residential Mortgage Servicing Providers Effective Date Owner
Managing Business Contract Defining Contract Management and Construction Contract A Contract Manager is an employee of an organization who is responsible for enforcing performance of the contract terms
seaonly Seattle Public Schools The Office of Internal Audit Capital Internal Audit Report Issue Date: December 16, 2014 Executive Summary Background In accordance with the Capital Risk Assessment and Audit
Copyright Rational Software 2003 http://www.therationaledge.com/content/feb_03/m_progressiveacqrup_mw.jsp Progressive Acquisition and the RUP Part III: Contracting Basics by R. Max Wideman Project Management
Checklist for Partnership Agreements The purpose of the checklist is to help partnerships identify terms and conditions of an agreement that may be important to consider. The agreements will need to be
1-02-45 INFORMATION MANAGEMENT: STRATEGY, SYSTEMS, AND TECHNOLOGIES THE ESSENTIALS FOR SUCCESSFUL IT OUTSOURCING Ralph L. Kliem and Irwin S. Ludin INSIDE Determining the Business Case; Finding and Selecting
SMARSH WEBSITE & HOSTING REPRESENTATIVE TERMS & CONDITIONS This Webhosting & Services Terms and Conditions ( Terms ) are effective as of the date of execution of the Order Form, as defined in Section 1,
23 rd Annual and One Day Seminar Vendor Management Best Practices Catherine Bruder CPA, CITP, CISA, CISM, CTGA Michigan Texas Florida Insight. Oversight. Foresight. SM Doeren Mayhew Bruder 1 $100 billion
ATTACHMENT 9 AGREEMENT FOR CONSULTING SERVICES BETWEEN AND THE CLEVELAND PUBLIC LIBRARY This Agreement is made and entered by and between with a principal place of business at and the BOARD OF TRUSTEES
Vendor Risk Management in the New Regulatory Environment kpmg.com Vendor Risk Management in the New Regulatory Environment 2 Vendor Risk Management in the New Regulatory Environment Background Regulators
MANAGING THIRD PARTY RISK T i m L i e t z R e g i o n a l P r a c t i c e L e a d e r R i s k A d v i s o r y S e r v i c e s Experis -- a different kind of talent company. Experis Tuesday, January 08,
GENERAL TERMS AND CONDITIONS Contents A. SCOPE...3 B. CONFIDENTIALITY, NAME, INTELLECTUAL PROPERTY AND TAX EXEMPT STATUS OF THE WTO...3 B.1. Confidentiality...3 B.2. Use of the name, logo or official seal
Contracting for Services A National State Auditors Association Best Practices Document Published by the National State Auditors Association Copyright 2003 by the National State Auditors Association. All
THE FOLLOWING GUIDE DOES NOT RESTRICT ANYONE FROM CONTRACTING FOR SERVICES ON TERMS AND CONDITIONS DIFFERENT FROM THOSE BELOW. THE USE OF ANY CLAUSE IS STRICTLY VOLUNTARY. NEITHER THE AMERICAN TRANSLATORS
Anatomy of an IT Outsourcing Deal Bruce Laco Deloitte John Pickett IT World Canada Barry Sookman McCarthy Tetrault 3656867 Agenda Key Considerations for IT Outsourcing Decision Anatomy of an Outsourcing
White Paper on Financial Institution Vendor Management Virtually every organization in the modern economy relies to some extent on third-party vendors that facilitate business operations in a wide variety
Internet Banking Internal Control Questionnaire Completed by: Date Completed: 1. Has the institution developed and implemented a sound system of internal controls over Internet banking technology and systems?
Bank of Brodhead PO Box 108 806 E Exchange St Brodhead WI 53520-0108 Consumer Internet Banking Agreement and Disclosures 1. Coverage. This Agreement applies to your use of our Online Banking Service ("Internet
MODEL REQUEST FOR PROPOSALS (RFP) TEMPLATE Generalized for professional services www.cdrfg.com CDR Fundraising Group 2015 This sample RFP is made available by the CDR Fundraising Group as a public service.
PRINCIPLES ON OUTSOURCING OF FINANCIAL SERVICES FOR MARKET INTERMEDIARIES A CONSULTATION REPORT OF THE INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS STANDING COMMITTEE 3 ON MARKET INTERMEDIARIES
Web Site Development Agreement 1. Parties; Effective Date. This Web Site Development Agreement ( Agreement ) is between Plug-N-Run, its affiliates, (including but not limited to USA Financial, USA Financial
POV on Draft Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by NBFCs April 2015 For private circulation only Draft Guidelines on Managing Risks and Code of Conduct
Outsourced Third Party Relationship Management/ Vendor Management TTS Webinar July 15, 2015 Susan Orr CISA, CISM, CRISC, CRP 1 Risk Management Guidance 2 3 Appendix J: 4 - Key Elements Third Party Management
STATE OF NEVADA DEPARTMENT OF HEALTH AND HUMAN SERVICES BUSINESS ASSOCIATE ADDENDUM BETWEEN The Division of Health Care Financing and Policy Herein after referred to as the Covered Entity and (Enter Business
EXECUTIVE DEAN, INSTRUCTIONAL SERVICES Board Approved November 12, 2014 FLSA: EXEMPT DEFINITION Under administrative direction of the Vice President of Instruction, plans, organizes, controls, and provides
GENISYS CREDIT UNION ELECTRONIC SERVICES AGREEMENT AND DISCLOSURES FOR BILL PAY Effective: 9-30-2013 This Agreement is the contract, which covers your and our rights and responsibilities concerning the
Annex 1. Contract Checklist for Cloud-Based Genomic Research Version 1.0, 21 July 2015 The following comprises a checklist of areas that genomic research organizations or consortia (collectively referred
Partners Online Banking Bill Payment Agreement and Disclosure Effective Date: November 6, 2012 This agreement and disclosure as amended from time to time sets forth the terms and conditions for the Bill
Contract and Procurement Fraud Vendor Management Introduction Organizations must take steps to reduce vendor fraud, including: Conducting vendor due diligence Managing vendor risks via contracts Ensuring
Contracting for Agile Software Projects Author: Peter Stevens As a customer or supplier of software services at the beginning of a Software Development Project, you know that there is too much at stake
DEALERSHIP IDENTITY THEFT RED FLAGS AND NOTICES OF ADDRESS DISCREPANCY POLICY This Plan we adopted by member, partner, etc.) on Our Program Coordinator (date). (Board of Directors, owner, We have appointed
Top 10 Tips and Tools for Meeting Regulatory Requirements and Managing Cloud Computing Providers in the United States and Around the World Web Hull Privacy, Data Protection, & Compliance Advisor Society
Date(s) of Evaluation: CHECKLIST ISO/IEC 17021:2011 Conformity Assessment Requirements for Bodies Providing Audit and Certification of Management Systems Assessor(s) & Observer(s): Organization: Area/Field
Checklist for a Watertight Cloud Computing Contract Companies of all industries are recognizing the need and benefit of moving some if not all of their IT infrastructure to a Cloud whether public or private.
Disclosures Common Contract Issues and High Exposure Areas in Psychiatric Practice Mr. Cash has no relevant financial relationships with any commercial interest. Charles D. Cash, JD, LLM Assistant Vice
Prudential Practice Guide PPG 231 Outsourcing October 2006 www.apra.gov.au Australian Prudential Regulation Authority Disclaimer and copyright This prudential practice guide is not legal advice and users
Rutgers University HIPAA BUSINESS ASSOCIATE AGREEMENT This Business Associate Agreement Is Related To and a Part of the Following Underlying Agreement: Effective Date of Underlying Agreement: School/Unit:
AGREEMENT FOR ACCESS TO PROTECTED HEALTH INFORMATION BETWEEN WAKE FOREST UNIVERSITY BAPTIST MEDICAL CENTER AND THIS AGREEMENT for Access to Protected Health Information ( PHI ) ( Agreement ) is entered
Forensic Services Third Party Risks Landscape of third party risk Focus on third parties that: perform functions on behalf of the company provide products and services that the company does not originate
Free Report: How To Repair Your Credit The following techniques will help correct your credit and should be done with all Credit Bureaus. In this section you will learn the ways of removing negative items
The Purchasing Office at SMC has created this checklist to assist District employees with key points to consider when presenting contracts for final processing. The checklist outlines important provisions
Contracts, agreements and tendering 1) Introduction This guidance note provides an overview of the types of contracts and other agreements you might need to use in setting up and running a local energy
Third Party Risk Introduction The board of directors and senior management of an insured depository institution (institution) are ultimately responsible for managing activities conducted through third-party
& GUIDELINES Included: Overview Dos and Don ts Checklist Letter of Intent for Business Transaction Instructions Sample Letter of Intent for Business Transaction 1. Overview Before settling on the final
A How-To Guide for Updating HIPAA Policies & Procedures to Align with ARRA Health Care Provider Edition Version 1 Policy and Procedure Templates Reflects modifications published in the Federal Register
Duties And Responsibilities Of Board Members Harry Black CU Speaker/Consultant Director/Treasurer Mississippi Telco CU CU Conferences 8711 Watson Road, Suite 200 St. Louis, MO 63119 Toll Free 888-465-6010
Outsourcing Contracts Insights This paper is intended to raise the awareness of law firms and legal departments of the issues they need to address while writing an outsourcing contract. These contracts
Scrambling for Compliance Reworking Your Information Technology Service Contracts Security Camp Boston University Boston, MA August 20, 2009 John J. Smith, VistaLaw International, LLC 1 Overview of Presentation
APPENDIX E TO DIR CONTRACT NO. DIR-TSO-2567 SOFTWARE MAINTENANCE AGREEMENT This is a Software Maintenance Agreement ( Agreement ) dated as of, (the Effective Date ) by and between ( Customer ) having a
LTC ELITE, LLC MEMBERSHIP AGREEMENT This Membership Agreement (this Agreement ) is made and entered into effective, (the Effective Date ), by and between LTC Elite, LLC, a Texas limited liability company
ADULT FAMILY HOME/RESPITE SERVICES AGREEMENT Agreement #: «ContractID» This Agreement is made and entered into this, «EffectiveDatePhrase», by and between La Crosse County, a Wisconsin Municipal Body Corporate
Office of Thrift Supervision September 1, 2004 Department of the Treasury Thrift Bulletin TB 82a Handbooks: Thrift Activities Section: 310 Subject: Oversight by the Board of Directors Third Party Arrangements
Software Licensing and Pricing Best Practices Stewart Buchanan June 3, 2009 Gartner Webinar How to Participate Today Audio Announcement You have joined the audio muted using your computer s speaker system