Due Diligence and Ongoing Monitoring

Could you provide me with what types of risks we would be looking at with vendor who service the currency counter and/or coin machines at our bank branch locations? This would just be for those coming in to service existing machines.

Currently there is no agreement for servicing unless it is a prepaid maintenance situation. As it stands, nothing is signed other than the visitor log for the branch. 

For vendors like that, we have them as Tier 7 and gather an updated COI yearly, check CFPB for any complaints as well as confirm with the relationship manager that we have updated contact information. If we have a contract, I will review the terms if the contract is nearing the end. 

Could you provide me with what types of risks we would be looking at with vendor who service the currency counter and/or coin machines at our bank branch locations? This would just be for those coming in to service existing machines.

Currently there is no agreement for servicing unless it is a prepaid maintenance situation. As it stands, nothing is signed other than the visitor log for the branch.