Due Diligence 101: Are On-Site Visits Required?
Let’s start with guidance on the subject. There is very little guidance requiring on-site due diligence. It’s peppered with words like “may” or...
Brokered Deposits & Vendor Management
As the industry pushes for more flexibility to make it easier to work with deposit brokers, bankers can help make their case with strong vendor management.
Vendor Management
Vendor management refers to all the systems, strategies, and techniques used to get more value from every vendor and third-party service provider
Vendor Management Best Practices
Learn vendor management best practices ranching from good communication to having the correct procedures in place.
3 Types of Vendor Monitoring
How do you know whether your vendors are actually doing what they say they are doing? It comes down to three key types of vendor monitoring...
5 Features Every Vendor Management Software Solution Should Have
Here are the top five features to look for when selecting a vendor management software solution...
Is Your Third-Party Vendor Contract Specific Enough When It Comes to Cybersecurity?
If you’re assuming your third-party service provider is following cybersecurity best practices because it’s smart business, think again...
Should Vendor Management Report to Compliance or IT?
What’s best for one financial institution isn’t necessarily best for another. One common question: Should vendor management report to compliance or IT?
Will Your Vendors Fall Victim to Ransomware and Other Cybersecurity Threats?
63% of cybersecurity breaches occur through third-party vendors. That's why it's vital that your vendor management process protects you from threats.
Inside the New SSAE 18: Vendor Management Changes
The new SSAE 18 vendor management rules impact every financial institution. In this blog post, we look at each change and how it will affect your FI.
Vendor Management: What the NCUA Really Wants
When a financial institution outsources an activity to an outside vendor, it can enhance the member experience, but it can also introduce increased risk.
Warning Ahead: Many Vendor Contracts Are Missing Essential Internal Controls
The phrase “internal controls” is closely associated with accounting, but these valuable tools are also an integral part of risk management.
Does Vendor Size Matter?
Some institutions try to simplify vendor management by picking the biggest vendor in each category. Going big, however, is not always the safest option.
Assess Vendor Reputation Risk - Before You Have to Rebuild Yours
Ben Franklin once wrote that “Glass, china and reputation are easily cracked, and never well mended.” Reputation risk can be mitigated through these steps
Preventing the Top 3 Vendor SLA Mistakes
one of the most effective tools in a financial institution’s vendor management arsenal, but too many institutions make major mistakes when crafting SLAs.
BSA Meets Vendor Management
How necessary is it to document your vendor selection process? If a new law in New York state is any indication, it’s becoming more and more important.
Four Ways to Ensure Your Vendors Are Prepared for Disaster
If you’re dependent on a third-party vendor that can’t quickly recover from a disaster, there’s a major gap in your own business continuity plan.