Due Diligence and Ongoing Monitoring

 View Only
  • 1.  inspectors and Environmental Consultants

    This message was posted by a user wishing to remain anonymous
    Posted 06-30-2023 03:44 PM
    This message was posted by a user wishing to remain anonymous

    What documents do banks/credit unions collect for inspectors and environmental consultants? I'm updating our vendor mgmt policy and want to cover these specialties.

  • 2.  RE: inspectors and Environmental Consultants

    Posted 07-06-2023 11:18 AM

    Here is some information you can use to vet environmental consultants that I received from a coworker who specialized in Environmental services, Hope this helps

    Company's statement qualifications - brochure

    Sample report  redacts proprietary info

    Description of business  lists of  services

    How long in business

    Volume of work-how many projects completed on annual basis

    Where personnel located (coverage)

    Key people (environmental professionals)

    What is their turnaround time

    Typical costs

    Using their own people  any work subcontracted?  Names, services

    The businesWho is auth to sign reports  minimum of 2 signatures  who did work and senior mgmt signoff

    ASTM15-21  standard phase I used by industry

     Business should obtain lists of clients/references with contacts/phone # /emails to verify  min of 3 references"

    Request Documentation

    Resume/professional profiles of how is doing the work

     certs of  coverage

    • Set up insurance requirements  prof liability errors/omissions (check with risk)
    • General liability/auto insurance   
    • Workers comp
    • Limitations of consultant liability


    Contract/Service level agreement  environmental services specialty  ensure contract is solid and includes provisions that align with specialty