Due Diligence and Ongoing Monitoring

Welcome to the Due Diligence and Ongoing Monitoring Community. Here you will be able to network, collabote and see the latest discussions that can help you in this area. Note: You will need to Sign In to join in the discussions and access resources. 

About Due Diligence and Ongoing Monitoring: Whether you’re vetting a new vendor or following up on an existing vendor, performing due diligence is necessary to determine if a vendor is a good fit for your organization. Ongoing monitoring is a regulatory expectation, an overall sound business practice and can lead to discovering risk that would have otherwise gone unnoticed.

Latest Discussion Posts

  • Yes, I'd request as much information as reasonably available. Certainly, all of the things like a reputation risk check, history of data breaches, articles of incorporation all come to mind - additionally, I'd request copies of their business continuity ... More

  • We are reevaluating our vendors level classification and I would to know how are other agencies treating federal government entities like Fanny Mae, VA, or your State Housing authorities. These are agencies that store and process our customer's NPI and ... More

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    vendors and cloud software assessment (AWS)

    This message was posted by a user wishing to remain anonymous I have a vendor hosting an application in the cloud and due to the "shared cloud responsibility", I'm wondering if requiring reports (i.e. output of trusted advisor, is IAM used?, cloudtrail ... More

  • Hello Mark and welcome to the wonderful world of Vendor Management! I'll try to answer your questions with our practices below: We are early in our formal Vendor Risk Management process. As we roll out our ongoing vendor oversight and monitoring ... More

  • Hi! We have a process in place which is similar to what you describe. For document reviews, such as SOC reports, and information security items, we partnered with various stakeholders (like internal audit, information security) to identify thresholds ... More

ThinkTank Announcements

  • COVID-19 Resources Page

    Hi Everyone,   With the COVID-19 pandemic upon us, organizations are implementing their pandemic plans, many employees are working remotely and changes in vendor management are rapidly occurring. In the industry, it has raised lot of questions about pandemic planning and best practices and reminds ... More
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    Happy New Year ThinkTank members! We hope you've found the community discussions this past year to be enlightening and engaging. As we head into 2020, we want to hear your thoughts and feedback as it'll help us continue to understand what you'd like to see more of in the Third Party ThinkTank Community. ... More
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    Hi Everyone, I wanted to provide an exciting update! The community has now surpassed 600 members and we see wonderful discussions going. We hope you’re finding them valuable. It’s our goal to always provide you a dedicated space to network, collaborate and stay educated. As we continue to grow ... More
  • New Resources Available

    Hi Everyone, Happy Friday! I wanted to share some new resources available to the community… Contract Negotiation: Venminder has released a new infographic, Contract Negotiation Best Practices, you’ll find it for download on the Contract Management resources page. Click here. Bootcamp: We had ... More
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