Survey of financial services and financial technology companies reveals current processes and challenges faced in 2019.
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LEARN MOREWe'll cover some quick tips for developing a vendor risk assessment template, also commonly referred to as a VRA questionnaire. Check out our 5 recommendations.
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Welcome to this week’s Third Party Thursday! My name is Stephanie DellaCamera and I’m the Solutions Consultant here at Venminder.
In today’s session, I thought it’d be a great refresher to discuss some quick tips for developing a vendor risk assessment template, also commonly referred to as a VRA questionnaire. Creating a VRA questionnaire can be quite the daunting task so hopefully these tips will make it a little easier for you.
Here are our 5 recommendations:
1. First, when you begin to create a questionnaire template, always consider the regulatory expectations. Regulatory guidance, such as FDIC FIL-44-2008, can help with outlining your template as the guidance breaks down the risk categories that should be addressed.
2. Second, determine the questions that should be included in the standard template. These are some things you’ll want to definitely keep in mind when developing the question set: