Due Diligence and Ongoing Monitoring

This message was posted by a user wishing to remain anonymous

​I am restructuring our VMP and was hoping you could share the frequency with which you conduct ongoing due diligence/risk assessment reviews. We plan to do annual review on those rated tier 1 (Critical) but would like some feedback on what everyone else does for those rated non-critical; do you all following the standard 1 year, 2 year, 3 year...etc. model or have you found it beneficial to do some of the other reviews at a different frequency?

Thank you in advance

This message was posted by a user wishing to remain anonymous

We review Critical and/or High Risk annually; Moderate bi-annually; and Low risk as needed.
Original Message:
Sent: 07-13-2020 12:16 PM
From: Anonymous Member
Subject: Review Frequency

This message was posted by a user wishing to remain anonymous

​I am restructuring our VMP and was hoping you could share the frequency with which you conduct ongoing due diligence/risk assessment reviews. We plan to do annual review on those rated tier 1 (Critical) but would like some feedback on what everyone else does for those rated non-critical; do you all following the standard 1 year, 2 year, 3 year...etc. model or have you found it beneficial to do some of the other reviews at a different frequency?

Thank you in advance

We review Critical vendors annually; Moderate every three years and No Impact every five years.
Original Message:
Sent: 07-13-2020 01:30 PM
From: Anonymous Member
Subject: Review Frequency

This message was posted by a user wishing to remain anonymous

We review Critical and/or High Risk annually; Moderate bi-annually; and Low risk as needed.
Original Message:
Sent: 07-13-2020 12:16 PM
From: Anonymous Member
Subject: Review Frequency

This message was posted by a user wishing to remain anonymous

​I am restructuring our VMP and was hoping you could share the frequency with which you conduct ongoing due diligence/risk assessment reviews. We plan to do annual review on those rated tier 1 (Critical) but would like some feedback on what everyone else does for those rated non-critical; do you all following the standard 1 year, 2 year, 3 year...etc. model or have you found it beneficial to do some of the other reviews at a different frequency?

Thank you in advance