Due Diligence and Ongoing Monitoring

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  • 1.  Financial Assessments

    This message was posted by a user wishing to remain anonymous
    Posted 06-23-2021 02:26 PM
    This message was posted by a user wishing to remain anonymous

    How do you determine when you want to conduct a financial assessment of a new vendor? Do you assess all new vendors or only vendors which meet certain criteria, such as anticipated spend?


  • 2.  RE: Financial Assessments

    This message was posted by a user wishing to remain anonymous
    Posted 06-24-2021 10:18 AM
    This message was posted by a user wishing to remain anonymous

    We do not conduct a financial review on all new vendors.  We would only conduct financial reviews on vendors that are considered Critical or any vendor that is considered high inherent risk and Tier 1 from a BCP perspective (24 hour RTO) at onboarding.  Under our program these vendors would also be reviewed from a due diligence perspective ongoing on an annual basis.  A financial review would be included in that annual due diligence review.