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    RE: Out of Scope

    By: Mark Ewert , 2 hours ago
    Posted in: Policy, Program and Procedures

    Every organization will have its own list of entities excluded from its definition of vendor or excluded from the vendor management process. Some on the list will be unique to the organization's ...

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    RE: Out of Scope

    By: Joe Ciccone , 8 hours ago
    Posted in: Policy, Program and Procedures

    Venminder has published some guidance on this topic which I've found helpful: https://www.venminder.com/blog/out-of-scope-third-parties https://www.venminder.com/library/determine-in-out-s ...

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    Out of Scope

    By: Regina Erwin , 9 hours ago
    Posted in: Policy, Program and Procedures

    What types of products and services do you consider out of scope for third party risk management/vendor management?

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    Skip Tracing Vendor

    By: Brian Bowen , yesterday
    Posted in: Risk Assessments

    Do any of the FI members have any experience at Risk Assessing a Skip Trace Company? PII is involved but it is such a small subset of member/customer data. How are others classifying in your ...

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    Reviewing 3rd Party Attestation reports

    By: Anonymous Member , 12 days ago
    Posted in: Due Diligence and Ongoing Monitoring

    This message was posted by a user wishing to remain anonymous Looking for some assistance on how to review our 3rd party's reports, SOC reports for example. Is there a checklist or similar that ...

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    BCP Testing Results- Are you referencing the Pandemic or testing as usual for your credit union?

    By: Mark Klemann , one month ago
    Posted in: Exams or Audits

    I realize this is a VM blog but i'm hoping some of you also manage BCP for your credit union and are willing to share some info. I'm curious how you have/will approach testing of business functions ...

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The professionals who take on the job of third party risk ensure the right steps are taken to protect their organizations from vendor risks and avoid costly regulatory enforcement actions. While risk comes in many forms - a good third party risk management program can help address financial, reputation, credit, operational risk and much more during the business lifecycle. 

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Latest Articles

  • Top 10 Questions in Vendor Cybersecurity Questionnaires

    7 hours ago
    When creating a vendor questionnaire or reviewing a questionnaire completed by a vendor, it’s essential to ask the right questions so you can fully understand the vendor’s cybersecurity environment. Use the following 10 questions to make sure you're providing and receiving the most important cybersecurity information from your vendors.

  • June 2021 Vendor Management News

    5 days ago
    Reading up on latest vendor management news can only help your third-party risk management program We're here to make it easier than ever! Below we've listed articles that we recommend checking out.

  • What Is Vendor Operational Risk?

    6 days ago
    In the world of vendor risk management, there are several categories of vendor risk to consider, such as strategic, compliance, cyber, financial, reputational and more. Today, we will focus on vendor operational risk and highlight some of the issues that can arise if this risk isn’t managed appropriately. First, we should define operational risk as the risks an organization faces while running its day-to-day business activities. Operational risk typically reflects the failure of processes, procedures, people and systems. Furthermore, operational risk has two dimensions, internal and external.
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