Due diligence through monitoring risk

Your third-party relationships must be monitored for compliance – and regulators are watching. Identity theft and customer privacy can easily be breached by a vendor that isn’t able to ensure information security. Your internal controls of your vendors must address security, data breach alerts, and monitoring for identity theft red flags, including ability to freeze a specific individual account if it is fraudulent.

A financial institution can outsource responsibility for a service to a third party, but not liability for the potential risks to the institution and its customers. Therefore, even if your institution has taken reasonable steps to perform up-front review, subsequent breakdowns in a vendor’s controls or financial stability may significantly impact financial institution services and support.

Strategic Vendor Management: Focusing on Due Diligence and Third-Party Risk helps you navigate the controls relating to vendor management and monitoring. This manual:

• Covers all stages of vendor management.
• Walks you step-by-step through the phases of vendor management.
• Helps managers of third-party providers develop clear policies and effective procedures and to ensure that, in the process of managing those third-party relationships, they are following those policies and documenting their risk management efforts.
• Focuses on guiding you in assessing risk, negotiating and writing RFPs and contracts, and monitoring and controlling the vendor.

BONUS CD TOOL-KIT. Upon your payment for Strategic Vendor Management, you will also receive the companion CD – at no extra cost - that contains a PDF of the manual, which can be quickly searched for guidance; policies and procedures, tools and exhibits including a PowerPoint presentation covering third-party risk management – all easily customized to meet your specific needs.

Your Satisfaction is Guaranteed. If you’re not totally satisfied with Strategic Vendor Management simply return your shipment within 30 days for a full refund.

These proven guidelines and sample materials can save you hours of time while ensuring that your institution has effective, proven vendor oversight policies that have been tested in thousands of institutions just like yours.

Highlights of Our Latest Update How to Use This Manual Table of Contents