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    Consultants

    Posted in: Risk Assessments

    This message was posted by a user wishing to remain anonymous Are your firms performing regular vendor risk assessments on consultant relationships? If so, are you using a more streamline version ...

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    RE: Vendor Document Collection Process

    This message was posted by a user wishing to remain anonymous Hi Desiree, My institution utilizes the external questionnaires using the Venminder template. We ask for COI, Business Licenses, ...

  • Thank you for your insight Melissa! I have found the same for vendors changing their processes the next time we reach out to collect documents.

  • Hi Desiree, Our process is much the same as yours- email the vendor contact or their due diligence email & request the documentation or utilize the online portals. There is no consistency with ...

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    What is a vendor?

    This message was posted by a user wishing to remain anonymous What is your definition of a vendor ? With an ever-growing list of vendors in our organization, I am attempting to create a ...

  • We recently received an FFIEC examination report for one of the top card payment network providers from our federal regulator. Our current Vendor Management policy states payment card licensing ...

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    Hi Community Members, We’re looking for your valuable input! Venminder is conducting their annual survey for the State of Third-Party Risk Management 2021 whitepaper and we’re hoping you may have 5 minutes to spare to help out and take the survey. The complimentary whitepaper will be released in early January and will provide you with industry trends and data that you can use to compare your own ... More
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    Hi Everyone, I want to share some very exciting news with you all. We have reached 1,000 community members! This is a milestone we’re very proud of and it’s all thanks to the fantastic third-party risk conversations you all are having every day. As always, please let me know if you have any thoughts or feedback on ways that we can improve the community. In the meantime, here are some links ... More

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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

  • The due diligence you collect on a vendor is only as good as the analysis performed. Due diligence is one of the most critical activities in third-party risk management because let’s face it, your vendor isn’t going to openly divulge all their dirty laundry.
  • Start off Spring by staying on top of vendor management news and resources. Find out what you missed and catch up on important information in this blog post.
  • In the third-party risk management industry both business impact analysis (BIA) and risk analysis are a crucial part of evaluating our vendor’s business continuity management and disaster recovery programs.