Due Diligence and Ongoing Monitoring

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Welcome to the Due Diligence and Ongoing Monitoring Community. Here you will be able to network, collaborate, 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

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    Mortgage company describes themselves as an investor and not a critical vendor.

    By: Anonymous Member , 5 days ago

    This message was posted by a user wishing to remain anonymous I have recently been asked to vet out a Mortgage broker for the secondary market. When I asked for their due diligence documents, they replied with a certification document and financials. ... More

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    RE: Incorporating Data Volume into Third-Party Risk Assessments

    By: Anonymous Member , 5 days ago

    This message was posted by a user wishing to remain anonymous Our third-party risk assessments incorporate data 'type' when assessing the overall risks. Taking into account the industry I work in, data groups were developed, e.g. Group 1 (Low): name, ... More

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    RE: Does your FI consider VISA and Mastercard to be Vendors?

    By: Nicole Almaraz , 10 days ago

    Yes, our organization has rated VISA and MasterCard as high-risk vendors as an outage would have a significant impact on our operations. We are able to retrieve due diligence annually through their Customer Trust Portals. Initially it was hard to get ... More

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    RE: Does your FI consider VISA and Mastercard to be Vendors?

    By: Anonymous Member , 19 days ago

    This message was posted by a user wishing to remain anonymous Hi, We list MC as a vendor and because of the interchange income and how important card usage is to a financial institution, we have it listed as a Critical vendor. We get SOC 1 and SOC ... More

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    RE: Does your FI consider VISA and Mastercard to be Vendors?

    By: Anonymous Member , 19 days ago

    This message was posted by a user wishing to remain anonymous Visa has a trust portal within Visa Access where you can access their SOC reports, PCI, etc. Work with your account rep at Visa to obtain access to the trust portal or you could try the ... More

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