4 Features Every Vendor Management Solution Needs 

A vendor management solution is more than a repository for contracts. It’s a system for reducing risk, ensuring compliance, and increasing efficiency across the enterprise by uncovering insights into third-party vendor relationships at every level of the vendor management lifecycle.   When properly constructed, a vendor management software solution organizes existing processes and documentation while showing how vendor relationships and

Risk Management and HR

The Risk Management/HR Connection

How often do you engage with human resources (HR)? Risk managers may not give a lot of thought to HR, but they should. According to COSO and its industry leading ERM framework (Enterprise Risk Management – Integrating Strategy and Performance), attracting, developing, and retaining capable individuals is a key element of governance and culture. Why does


Hate Illegal Telemarketing Calls? So Does the FDIC.

Have you ever felt like there isn’t being enough done to enforce the Do Not Call List? Between spoofed robo-dialing and other unwanted calls, picking up your home phone barely feels worth the effort. It’s the audio equivalent of a mailbox full of advertising flyers. The good news is at least one agency is taking

risk podcast ABA

3 Elements of a Vendor Cyber Monitoring Program

Growing cyber threats have made real-time monitoring of vendors an increasingly important element of a vendor management program. I sat down with Sam Lisker, ABA’s senior vice president of innovation in the office of member engagement, at the 2019 ABA Risk Management Conference in Austin, to talk about this evolving technology and how it can


Frequently Asked Questions About Cyber Monitoring

Vendor cybersecurity monitoring provides real-time data on vendors’ cybersecurity by collecting and assessing publicly available information. It detects threats and vulnerabilities before they are exploited so that action can be taken to prevent breaches. Cybersecurity ratings can: Uncover and address cybersecurity issues that need to be resolved before they are exploited. Identify third-party vendors that


What to Do When You’re Worried About Your Vendor’s Finances

No one knows when the next downturn is coming. The only thing we can do is to assume one will come sooner or later and put plans in place to mitigate the risk. Chances are your institution’s balance sheet is as prepared as it can be for economic disruptions. That’s the very nature of banking.