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Dec 31, 1969 by

Best Practices

Staying On Top of Vendor Risk Management News: Week of September 17

Sep 21, 2018

Summer is officially over, and the leaves are changing for fall. But the leaves aren't the only thing changing right now - more and more fintechs are moving to Atlanta and making it their home, NY [...]

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Best Practices

How to Outsource and Select Vendors That Fit Your Organization’s Business Model and Needs

Sep 19, 2018

Organizations have become more involved in outsourcing and, as a result, are presented with challenges in managing the risks associated with selecting and managing vendor partners. Outsourcing has [...]

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Best Practices

8 Items You Should Be Reviewing During Your Internal Audit

Sep 18, 2018

I often think of an internal audit as a helpful check-up – it's a great time to find areas that may be problematic before they become a big problem. Having had some very favorable internal audits [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of September 10

Sep 14, 2018

With Hurricane Florence rolling through the U.S. this week, we're reminded to check in on ours and our vendor's disaster recovery plans. From everyone here at Venminder, we hope you're all staying [...]

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Best Practices

Who Is Considered a Third Party or Vendor?

Sep 12, 2018

A third party is a company or entity with whom you have a written agreement to provide a product or service on behalf of your organization to your customer or upon whom you rely on a product or [...]

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Best Practices

SSAE 18: The Full Overview for Vendor Management

Sep 11, 2018

The purpose for the creation of the SSAE 18, in May 2017, was to clarify the auditing standards and to reduce duplication within similar standards covering examinations, reviews and agreed-upon [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of September 3

Sep 7, 2018

We've put together the latest news on vendor risk management to keep you in the know. 

The Fed focuses on UDAP, you might see a new set of cybersecurity standards in the near future, US Treasury [...]

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Best Practices

You’re Accountable for Third Party Risk Regardless of Organization Size

Sep 5, 2018

As a manager at a large organization, you rely on the efforts of an entire team of people. Since the financial crisis a decade ago, one thing has become abundantly clear from the regulators’ [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of August 27

Aug 31, 2018

This week in third party risk related news: Chase Bank hit with downgrade as a result of improper third party risk management, cybersecurity remains a topic of focus, working with fintech [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of August 20

Aug 24, 2018

An update on the OCC fintech charter, the latest in regtech, Merrill Lynch pays $8.9 million fine in SEC action with major third party implications, ECOA on third parties and more! Read below for [...]

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Best Practices

10 Actions for Effectively Managing Your Third Party Risk Management Program

Aug 22, 2018

Creating an effective third party risk management program takes a lot of work. There are a few critical elements to making certain your practices are robust and sustainable. Let’s look at 10 that [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of August 13

Aug 17, 2018

New enforcement actions and continued analysis of the CFPB changes and the fintech charter dominate this week’s headlines - read these stories and more below for this week's third party risk [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of August 6

Aug 10, 2018

This week's vendor management industry news includes analysis of the new fintech charter (some vastly different viewpoints), an article that reminds us that third party risk is not just a [...]

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Best Practices

Third Party Risk from a Prepaid Expert’s Perspective

Aug 6, 2018

As part of our Venminder Thought Leadership Series interview where we speak with the industry’s sought-after thought leaders for their perspective and advice on third parties, mitigating risk, [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of July 30

Aug 3, 2018

This week in third party risk news, there have been a number of mishaps that seemingly could have been avoided with proper vendor risk management. Read below for notable lessons on verifying your [...]

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Best Practices

Reading the News Is Good for Business and Third Party Risk Management

Jul 31, 2018

I confess that I love to read the news. It’s a practice I learned early on at MBNA America. One of our executives, long before the days of internet news feeds and automated alerts, made a practice [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of July 23

Jul 27, 2018

WIth a history of risk management failures, Wells Fargo can add another oops to the list - Wells is refunding "tens of millions” of dollars to customers for incorrect account charges. Read the [...]

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Best Practices

UDAAP Best Practices for Vendor Risk Management

Jul 25, 2018

Ever since the creation of the Consumer Financial Protection Bureau (CFPB), Unfair Deceptive or Abusive Acts or Practices (UDAAP) has become a very hot issue in regulatory enforcement. Many have [...]

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Best Practices

What Is Vendor Ongoing Monitoring?

Jul 24, 2018

Ongoing monitoring is one of the pillars of an effective vendor risk management process. All of the major regulatory guidance directs organizations to conduct ongoing monitoring on their vendors, [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of July 16

Jul 20, 2018

In this week's third party risk related news, we've noticed that the need for a robust third party risk management program to combat cyber, financial, operational and reputational risks is still [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of July 9

Jul 13, 2018

Check out this week's recommended vendor management related news articles. They include updates on PCI issues, more maneuverings at the CFPB, California and New York both weighing in on regulatory [...]

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Best Practices

14 Key Components of an Effective Vendor Risk Management Program

Jul 11, 2018

I’m often asked to discuss what comprises an effective vendor management program. While there are numerous things to consider, below I've listed 14 of the most important elements.

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Best Practices

What Is Vendor Risk Management?

Jul 10, 2018

Vendor risk management (or third party risk management) is defined as a set of activities associated with identifying the risk posed with outsourcing a product or service and then taking all [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of July 2

Jul 6, 2018

It seems that we can't go a week without mentioning another major NPPI breach, changes in enforcement actions or issues with regulatory compliance - and that's the case for the week of July 2 as [...]

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Best Practices

3 Reasons to Keep Third Party Risk Management Independent at Your Organization

Jul 4, 2018

We've talked a bit about the classic three lines of defense approach to compliance and risk management. It's an important concept in which the series of walls protect your organization, starting [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of June 25

Jun 29, 2018

The need for vendor risk management best practices is at the forefront of the news this week - 60% of industry execs reporting they do not have a comprehensive vendor risk program in place. This [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of June 18

Jun 22, 2018

Read about PayPal acquiring HyperWallet and Blackhawk, what CFOs have to say about their systems and hackers, vetting emerging mobile technologies and more.

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Best Practices

Staying On Top of Vendor Risk Management News: Week of June 11

Jun 15, 2018

An analysis and opinion of SEC guidance on cybersecurity, what fintech companies can learn from banks, Mulvaney asks BCFP to consider 20% spending reduction, plus more - read these stories and the [...]

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Best Practices

Framework of a Third Party Risk Management Program

Jun 12, 2018

Let’s discuss building out a third party risk management program, aka a vendor management or vendor risk management program from the ground up. You’ve joined an organization that lacks any sort of [...]

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Best Practices

OCC Spring 2018 Semiannual Risk Report Affects Third Party Risk Management

Jun 11, 2018

The OCC recently released its semi-annual risk report for the spring of 2018. You can read the full report here.

For anyone who has been following the Office of the Comptroller of the Currency for [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of June 4

Jun 8, 2018

The vast majority of this week's vendor risk related news stories cover regulatory reform and regulatory change. Read below to see which of the regulators continue to move forward with reform and [...]

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Best Practices

Best Practices and Benefits of Engaging the First Line of Vendor Risk Management Defense

Jun 6, 2018

Depending on where you sit within your organization, you may find yourself in 1 of 3 lines of business. In vendor risk management they are considered the 3 lines of defense.

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Best Practices

Vendor Consolidation Doesn’t Limit Risk in Third Party Risk Management

Jun 5, 2018

Consumer data fulfillment services come in all shapes and sizes and include credit reporting firms, appraisal management companies and outsourced underwriting to name but a few. 

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Best Practices

Staying On Top of Vendor Risk Management News: Week of May 28

Jun 1, 2018

I hope everyone had an enjoyable Memorial Day Weekend! We figured you were out enjoying warm weather with friends and family, barbecuing or taking a dip in the pool, so we put together some of the [...]

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Best Practices

Why Should You Run Vendors Through OFAC?

May 30, 2018

As part of due diligence, you should always check certain foundational items to make sure that you're doing business with a legitimate third party. One often overlooked opportunity is to do an [...]

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Best Practices

Defining Certain Third Parties as Out of Scope

May 29, 2018

You’ve heard time and time again about requests regarding your inventory of actively managed vendors. Pause and think for a moment about the concept “actively managed vendors” – that means there’s [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of May 21

May 25, 2018

This week in third party and vendor risk related news, we've seen a wide variety of topics. A major financial services company lied to regulators and falsified documents, the CFPB's future [...]

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Best Practices

Ballard Spahr Attorney’s Perspective on Third Party Risk

May 23, 2018

As part of our Venminder Thought Leadership series where we speak with the industry’s sought-after thought leaders for their perspective and advice on third parties, mitigating risk, best [...]

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Best Practices

Altaba Inc/Yahoo SEC Enforcement Action Reminds to Know Vendor Response Plan

May 22, 2018

A few weeks ago, on April 24, 2018, the Securities and Exchange Commission (SEC) fined Altaba, Inc., aka Yahoo, $35 million for a massive data breach that impacted around 50 million users in 2014

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Best Practices

8 Vendor Risk Management Tips for Non-Bank Lenders

May 22, 2018

The CFPB is going to look a lot closer at a lender's vendor oversight program. Some great advice here – don’t try to blind them with how sophisticated you are. Let's go over some simple tips to [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of May 14

May 18, 2018

With GDPR implementation fast approaching, we've seen a spike in related stories. Read below for GDPR in one simple chart, 5 big GDPR impacts, a short 3 minute video on GDPR, along with articles [...]

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Best Practices

3 vendor risk management items the examiner expects to see

May 16, 2018

One of the most difficult parts of third party risk management - or perhaps the most anxiety-laden – is the idea of being exam ready at all times. To do so, one needs to figure out what the [...]

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Best Practices

Effective Vendor Management Policy & Program Q&A

May 15, 2018

During our recent three day Third Party Risk Management Bootcamp, we had a lot of GREAT questions come in. It was quite impossible to get to them all during the live sessions, so we have worked [...]

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Best Practices

Auditor's Perspective on Third Party Risk Management Q&A

May 15, 2018

During our recent three day Third Party Risk Management Bootcamp, we had a lot of GREAT questions come in. It was quite impossible to get to them all during the live sessions, so we have worked [...]

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Best Practices

The Power of Outsourcing Vendor Risk Management

May 15, 2018

2017 was a year of change in the financial services industry. This includes the OCC proposed Fintech Charter and a changing of the guard within the rank and file of the Consumer Financial [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of May 7

May 11, 2018

Cybersecurity was a hot topic for vendor risk management news this week. A lot of our trusted news sources are writing about the state of cybersecurity in 2018. In addition to cybersecurity, below [...]

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Best Practices

3 Reasons Why and How to Measure Vendor Performance

May 9, 2018

Managing your vendor’s performance is a key aspect of monitoring. After all the hard work that went into contract negotiations and due diligence checks to onboard a new vendor, it would make sense [...]

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Best Practices

We’re a Credit Union - Why Worry About the OCC and FDIC?

May 8, 2018

I was at the NAFCU Conference and talked to quite a few risk managers during the time there. Nearly every one of them said they have had a major change of heart as to how closely they should be [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of April 30

May 4, 2018

We're already in the first week of May - this year has gone by rather quickly. In the first four months of 2018, we've shared the many changes in vendor risk management emerging in the news. BUT, [...]

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Best Practices

Third Party Risk in the Eyes of MBA President and CEO David Stevens, CMB

Apr 30, 2018

As part of our Venminder Thought Leadership series where we speak with the industry’s sought-after thought leaders for their perspective and advice on third parties, mitigating risk, best [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of April 23

Apr 27, 2018

The week of April 23 has been a big one for vendor risk related news. Headlines include: CFPB changed their name and confirms consumer complaints are going private, Wells Fargo was slapped with a [...]

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Best Practices

Why The Board Needs to be Directly Aware of Cybersecurity Matters

Apr 25, 2018

Hardly a week goes by that we don’t learn of some new major breach, incident or some emerging cybersecurity threat. Think Swift attacks, Equifax or Yahoo. It seems no one is immune from [...]

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Best Practices

Staying On Top of Vendor Risk Management News: Week of April 16

Apr 20, 2018

Have you heard - the CFPB could start hiding consumer complaints, Mortgage Bankers Association says cyber crimes are getting nastier and nastier (and they have examples to prove it!) and even the  [...]

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Best Practices

Why Third Party Risk Discussions Belong at Sr Management & Board Meetings

Apr 18, 2018

I know it seems like third party risk management is getting more attention than it needs. I say that having been involved with various facets of vendor management for much of my 28 years in [...]

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Best Practices

Staying On Top of Vendor Management News: Week of April 9

Apr 13, 2018

This week's third party risk related news stories cover a variety of topics - bank regulatory actions are at a historic low, Congress back in session and perhaps ready to look at regulatory [...]

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Best Practices

Stay Informed: An Important Vendor Risk Best Practice

Apr 11, 2018

Whether you know it or not, you need to be a news-hound in third party risk management. This helps you stay informed and educated. 

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Best Practices

Staying On Top of Vendor Management News: Week of April 2

Apr 9, 2018

Check out the latest stories in the world of third party risk for the past week - an update on regulatory relief, the compliance costs that are hurting rather than helping consumers, whether or [...]

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Best Practices

5 Ways to Spring Clean Your Third Party Risk Management Program

Apr 4, 2018

Like many others, you may find the introduction of spring to be a great time to do some spring cleaning. While you’re dusting off the shelves and clearing the clutter it may not hurt to [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Mar 26

Mar 30, 2018

Read below for the FFIEC's opinion on exam modernization, the CFPB teaming up with the FTC,  possible regulatory relief for community banks, fintech companies in Arizona, the FDIC announces [...]

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Best Practices

Third Party Risk Management - How Does the Vendor Perceive It?

Mar 26, 2018

As part of our Venminder Thought Leadership interview series where we speak to experts in-housing finance and vendor service providers, we recently had the opportunity to sit down with Suresh [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Mar 19

Mar 23, 2018

Read about the latest Wells Fargo enforcement action, what a less aggressive CFPB could mean for Fintech companies, the major third party implications on illegal debt collection, what Regtech is [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Mar 12

Mar 16, 2018

While there is not as many shocking news stories this week, there are, however, some interesting bits of news on data breaches, threats to the banking system, perspective from the new OCC head and [...]

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Best Practices

A Former Regulator’s Perspective on Third Party Risk Management

Mar 12, 2018

As part of our Venminder Thought Leadership series where we speak with the industry’s sought-after thought leaders for their perspective and advice on third parties, mitigating risk, best [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Mar 5

Mar 9, 2018
This has been a week with a lot of enforcement action updates. And, overall, some of the most intriguing articles in third party risk from the week are:
  • Wells Fargo is in trouble again
  • SEC hits [...]
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Best Practices

Staying On Top of Vendor Management News: Week of Feb 26

Mar 2, 2018

A lot went on in the world of third party risk management this week - some of the top news stories include:

  • Regulators are cracking down on Fintech and brokerage companies
  • SEC weighs in on [...]
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Best Practices

First 10 Things a New Vendor Manager at XYZ Mortgage Lender Is To Do

Feb 27, 2018

If you're a new vendor manager, there's a transition period before you're comfortable in your role. We all must start somewhere. So, we've put together a top 10 list of things to do if you're [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Feb 19

Feb 23, 2018

This week in third party risk news, articles cover topics like:

  • Updates with the CFPB
  • Security and fraud cyber attacks cost the U.S. economy how much? The number is astounding!
  • Efforts the U.S. [...]
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Best Practices

Staying On Top of Vendor Management News: Week of Feb 12

Feb 16, 2018

This week in third party risk management news:

  • Want to voice your opinion on CFPB regulation through enforcement action? Now you can - they're seeking input from the public.
  • Legal analysis of the [...]
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Best Practices

Managing Vendor Relationships - The good, bad and the ugly

Feb 13, 2018

If we had to summarize vendor management and boil it down from the many descriptions available, we'd use one word: Relationship.

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Best Practices

Staying On Top of Vendor Management News: Week of Feb 5

Feb 9, 2018

What's new in third party risk management this week? Read below to find out the progression of the OCC's proposed Fintech charter, what Mulvaney is doing regarding the CFPB, a possible OCC and [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Jan 29

Feb 2, 2018

The week of Jan 29 saw some really amazing headlines. The CFPB seeks public input on its processes and enforcement actions, new debt collection rules with third party implications and now they [...]

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Best Practices

Top 10 Vendor Management Terms That Every Team Should Know

Jan 30, 2018

So, you’ve mastered the terms Business Continuity Planning (BCP) and Disaster Recovery (DR) and have a good understanding of what is needed to manage a sound vendor management program. 

Below is a [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Jan 22

Jan 26, 2018

This week brings all sorts of BIG news from CFPB, OCC and the Federal Reserve affecting third party risk. The new director for the CFPB unleashes some significant changes in process and the OCC [...]

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Best Practices

5 Tricks to Stay Organized In Third Party Risk Management

Jan 24, 2018

One of the things I pride myself on is being highly organized (is it a problem if my socks are arranged alphabetically by color?). In the ever-hectic world of a third party risk manager, you’re [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Jan 15

Jan 19, 2018

Read below for the most important news articles in third party risk for the week of January 15, 2018. There’s lots of articles this week on the challenges in financial institutions – whether it’s [...]

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Best Practices

Board Third Party Risk Management Reporting Essentials

Jan 17, 2018

Regulatory guidance is clear – you must keep your senior management team and the board informed on developments in the third party risk management program, particularly on activities related to [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Jan 8

Jan 12, 2018

This week in the world of third party risk management, several resources take a stab at 2018 predictions and we again hear about the importance and increased role of of cybersecurity. The concept [...]

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Best Practices

Are You Testing Your Vendor Management Program?

Jan 10, 2018

We all know the importance of getting regular checkups on our health. It’s a great way to proactively address any potential problems before they become a crisis. Well, third party risk management [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Jan 1

Jan 5, 2018

New year, new vendor management news. If this week’s news is any indication, we’re in for a wild and wacky year! 

We’ve got lots more CFPB news (the current head of NCUA may be named as the [...]

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Best Practices

10 Vendor Management New Year’s Resolutions for 2018

Jan 3, 2018

Exercise more, lose a few pounds, adopt a new hobby and spend more time with family and friends are all common New Years Resolutions.

Instead of losing weight for 2018, we've decided to focus on [...]

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Best Practices

Vendor Management 10 Years in the Making

Jan 2, 2018

The maturing landscape of vendor management has been ten years in the making. Take a look at how the third party risk management thought process has changed from 2007 to 2017.

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Best Practices

Staying On Top of Vendor Management News: Week of Dec 25

Dec 29, 2017

It's the last week of the year and the vendor management news hasn't stopped. This week's headlines reflect back on 2017 and outline priorities for 2018. Not surprisingly, enforcement actions, [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Dec 18

Dec 22, 2017

Top stories in vendor management related news for the week of December 18, 2017 include:

  • New York cracks down on data issues following Equifax
  • CFPB is stopping its exams while they figure out how [...]
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Best Practices

Staying On Top of Vendor Management News: Week of Dec 11

Dec 15, 2017

We've collected vendor management news articles from the past week starting with December 11, 2017. A few top ones are:

  • 3 things to consider in vendor risk management
  • An update on the battle over [...]
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Best Practices

Staying On Top of Vendor Management News: Week of Dec 4

Dec 8, 2017

This week in the world of vendor management was all about the changes in the regulators’ leadership and the ongoing power struggle at the CFPB, with a side order of data breach and proposed [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Nov 27

Dec 1, 2017

This week’s vendor management news is dominated by the change in the leadership at the CFPB, UDAAP action and a new head at the OCC. Check out more of the important third party risk related news [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Nov 20

Nov 24, 2017

Third party risk news for the fourth week of November brought us some interesting headlines - here's what to expect in this week's Staying On Top of Vendor Management News:

  • If you haven't heard [...]
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Best Practices

15 Reasons To Be Thankful for Good Vendor Management

Nov 22, 2017

We’re thankful for our company, our customers and our ever-growing set of products and services. As we pause to spend Thanksgiving time with our families and friends, we thought it would be a good [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Nov 13

Nov 17, 2017

Some weeks there’s lots of news; some weeks there’s big news – this week, there’s simply lots and lots of big news.

Let’s look at some of the massive headlines:

  • The CFPB director is stepping [...]
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Best Practices

Staying On Top of Vendor Management News: Week of Nov 6

Nov 10, 2017

This week once again reminds us that keeping up with third party risk management news is a very important best practice. Here are some of the top stories:

  • An exerpt from Chairman Hensarling's [...]
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Best Practices

Staying On Top of Vendor Management News: Week of October 30

Nov 3, 2017

In light of Halloween, we've got some spooky third party risk management news to share with you this week.

  • Back from the dead - first national bank charter approved since the financial crisis
  • [...]
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Best Practices

Avoid These 7 Vendor Management Nightmares

Nov 1, 2017

Vendor management doesn't always go smoothly and sometimes can get quite frightening. So, in the spirit of Halloween, I have 7 vendor management nightmares to share with you. Ensure you take the [...]

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Best Practices

Staying On Top of Vendor Management News: Week of October 23

Oct 27, 2017

Fortunately, there hasn't been anything too crazy happening in the world of third party risk this past week. There are still some good articles to read though to keep you updated! Check them out [...]

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Best Practices

Staying On Top of Vendor Management News: Week of October 16

Oct 20, 2017

Third party risk news for the week of October 16 that you need to know:

  • Oversight on FinTech companies is tightening up
  • Are you a smaller bank? You might be experiencing higher regulatory costs [...]
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Best Practices

Staying On Top of Vendor Management News: Week of October 9

Oct 13, 2017

Learn what's new in vendor risk management from the week of October 9 - there have been some real eye openers. We've put together a list of resources that cover a variety of important topics, [...]

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Best Practices

Staying On Top of Vendor Management News: Week of October 2

Oct 6, 2017

Learn what's new in vendor risk management from the week of October 2. We've put together a list of resources to check out. 

It’s been an interesting week  topics include:

  • OCC dangles idea of [...]
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Best Practices

Staying on Top of Vendor Management News: Week of Sept 25

Sep 29, 2017

This week in third party risk news, we are reminded of the importance of proper due diligence, reputation risk, examination preparedness and more vendor management best practices. Read the [...]

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Best Practices

There's Still Time to Achieve Your 2017 Vendor Management Goals

Sep 26, 2017

If the thought of planning in January for your 2017 vendor management goals feels like a distant memory, you’re probably not on your own. Like any news year's resolution, the initial goal is new [...]

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Best Practices

Staying on Top of Vendor Management News: Week of Sept 18

Sep 22, 2017

Headlines in third party risk from this past week, the week of September 18, covered a variety of mishaps from which we can all learn. Read the articles below for how you can avoid issues with [...]

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Best Practices

Staying on Top of Vendor Management News: Week of Sept 11

Sep 15, 2017

Keeping up with the latest news in third party risk is important for your vendor management program. This past week - week of September 11 - has been especially eventful. Make sure to check out [...]

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Best Practices

Mortgage Companies: Know Your Vendor's Leadership - It Affects Culture and Compliance

Sep 12, 2017

If you're an established financial institution, you're probably using third party vendors to fulfill several functions to gain efficiencies and market advantages. After the contract has been [...]

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Best Practices

Staying on Top of Vendor Management News: Week of Sept 4

Sep 8, 2017

Keep up with the latest news in third party risk. We've put together a list of resources for the week of September 4 to help keep you updated.  

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Best Practices

Third Party Risk Management Advice: What I Would Share with 20 Year Younger Me

Sep 6, 2017

I’ve seen on Facebook and Twitter those amusing things where you list what you wish you could tell yourself 20 years ago, i.e., sharing the benefit of experience with a less experienced YOU. 

[...]

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Best Practices

Review Vendor Management News

Aug 30, 2017

If you’re like me, you receive dozens of emails – perhaps hundreds of tweets – from various news feeds. It’s easy to lose track of them all but it's important to at least glance through them. 

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Best Practices

Staying On Top of Vendor Management News: Week of Aug 21

Aug 25, 2017

Here's a list of important vendor risk management articles from this week - week of August 21, 2017.

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Best Practices

An Ounce of Third Party Risk Management Prevention

Aug 23, 2017

There is an old saying that goes, “an ounce of prevention is worth a pound of cure” Meaning the cheapest way to fix a problem is often to simply prevent it from occurring. Perhaps there is no [...]

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Best Practices

Staying On Top of Vendor Management News: Week of Aug 14

Aug 18, 2017

What's new in vendor risk management for the week of August 14, 2017? We've put together a list of resources to check out.

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Best Practices

Staying On Top of Vendor Management News: Week of Aug 7

Aug 11, 2017

You're aware of the importance of staying up to date with industry news. Learn what's new in vendor risk management for the week of August 7, 2017. We've put together a list of resources to check [...]

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Best Practices

Staying On Top of Vendor Management News: Week of July 31

Aug 4, 2017
Want to know what went on for the week of July 31 in third party risk? From regulatory compliance to which financial institutions are making the vendor management headlines, we've got you covered.
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Best Practices

Staying On Top of Vendor Management News: Week of July 24

Jul 28, 2017

You know how important it is to stay updated with regulatory news. Learn what's new in vendor risk management from the week of July 24. We've put together a list of resources to check out. 

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Best Practices

NAFCU Risk Management Seminar: Networking, Third Parties and More

Jul 24, 2017

This week, we’re at the NAFCU Risk Conference in beautiful Denver, Colorado. For me, attending conferences, whether as a presenter or as an interested participant, is always exciting.

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Best Practices

Staying On Top of Vendor Management News: Week of July 17

Jul 21, 2017

As we've mentioned before, it's important to stay updated with regulatory news. Learn what's new in vendor risk management this past week. We've put together a list of resources to check out. 

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Best Practices

4 Steps to Take When Vendor Management Guidance Lags Behind Tech

Jul 12, 2017

The creation and issuance of vendor management regulatory guidance takes quite a while – the process from start to finish can take months or even years. Meanwhile, the evolution of mobile [...]

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Best Practices

The Importance of Vendor Management Department Independence

Jul 5, 2017

Vendor management should have its own department or group inside your financial institution. A best practice, perhaps even a fundamental expectation, is that third party risk management should be [...]

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Best Practices

Staying on Top of Vendor Management News: Week of June 26

Jun 30, 2017

As we've mentioned before, it's important to stay updated with regulatory news. Learn what's new in vendor risk management this past week. We've put together a list of resources to check out. 

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Best Practices

Staying on Top of Vendor Management News: Week of June 19

Jun 23, 2017

As we’ve mentioned before, one of the challenging issues in third party risk management is staying up-to-date on news and changes occurring in the financial services regulatory world. It’s [...]

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Best Practices

Vendor Ongoing Monitoring Often Overlooked

Jun 14, 2017

Vendor ongoing monitoring is required by all of the major regulators as a fundamental practice in third party risk management. So, why is it often overlooked? What happens if you fail to monitor [...]

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Best Practices

3 Areas to Watch If Your Vendor Is Acquiring Another Vendor

May 31, 2017

Today, companies merge suddenly and frequently for a variety of reasons - some of those reasons can be a really good thing, but some can introduce a variety of risks that can cause performance to [...]

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Best Practices

What To Do If Your Software Vendor Gets Acquired

May 30, 2017

You did your due diligence on your vendor, you're going about your day to day duties, and suddenly you're notified that your software vendor is being acquired by another. Today, companies merge [...]

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Best Practices

Third Party Risk Q&A: Auditor's Perspective and Best Practices

May 29, 2017

During our recent three day Vendor Management Bootcamp we had a lot of GREAT questions come in. It was simply impossible to get to them all during the live sessions, so we have worked with the [...]

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Best Practices

Third Party Risk Q&A: Risk Assessments

May 29, 2017

During our recent three day  Vendor Management Bootcamp, we had a lot of GREAT questions come in. It was simply impossible to get to them all during the live sessions, so we have worked with the [...]

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Best Practices

Third Party Risk Q&A: Critical Vendors and More

May 29, 2017

During our recent three day Vendor Management Bootcamp (click here to watch on-demand), we had a lot of GREAT questions come in. It was simply impossible to get to them all during the live [...]

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Best Practices

Third Party Risk Q&A: Vendor Due Diligence

May 29, 2017

During our recent three day Vendor Management Bootcamp (click here to watch on-demand), we had a lot of GREAT questions come in. It was simply impossible to get to them all during the live [...]

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Best Practices

Q&A: Third Party Risk Policy/Program and Financials

May 29, 2017

During our recent three day  Vendor Management Bootcamp (click here to watch on-demand), we had a lot of GREAT questions come in. It was simply impossible to get to them all during the live [...]

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Best Practices

Third Party Risk Q&A: Vendor SOC Report Types and More

May 29, 2017

During our recent three day Vendor Management Bootcamp (click here to watch on-demand), we had a lot of GREAT questions come in. It was simply impossible to get to them all during the live [...]

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Best Practices

It's Dangerous to Cut Vendor Management Corners

May 17, 2017

It can be tempting to cut corners when handling third party risk management at your institution. 

When I was a few years younger, I used to love to race in criterium style races… for those of you [...]

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Best Practices

How mature is your vendor management program?

Mar 29, 2017

A topic we hear a lot at industry conferences and webinars is the maturity of your vendor management program. What exactly does this mean? Let's go through that now...

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Best Practices

Is Sr Management & Board Involved Enough In Vendor Management? Ask These Questions

Jan 4, 2017

A few weeks ago we discussed the importance of senior management and board involvement regarding vendor management. How do you know if you're following the OCC Bulletin 29-2013 guidance and OCC [...]

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Best Practices

Venminder's Top Vendor Management Downloads of 2016

Dec 23, 2016

Throughout the year we have created lots of infographics, ebooks, guides and more to help you and your peers with vendor management. Your peers have found these resources to be the most valuable [...]

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Best Practices

New Video Series Third Party Thursdays Launched

Oct 21, 2016

We have exciting news! Have you heard? Yesterday, we launched our new educational video series - Third Party Thursdays. Every Thursday, we will post a new video that will focus on a different area [...]

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Best Practices

Staying On Top of Vendor Management News

Oct 12, 2016

One of the most important and challenging parts of working in risk management is staying out of the news – that’s always a good goal, not to be in the news in a negative way. But equally [...]

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Best Practices

The Importance of Explaining Your Vendor Management Team’s Qualifications

Sep 28, 2016

You’ve probably updated your organization chart for your bank or credit union's compliance and third party risk management teams. You’ve likely had to explain it to Human Resources or go to senior [...]

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Best Practices

Vendor Management Procedures and the Job Swap

Sep 21, 2016

Anyone who knows me knows I have a few obsessions – I’m cyclelogically obsessed with my bicycle and I am an absolute NASA-nut (thanks to Twitter and NASA Social for taking me to some really great [...]

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Best Practices

8 Tips for Vendor Management in 2016

Jan 1, 2016

Happy New Year! Our team has got vendor management covered for 2016, we'll be releasing new helpful content to the industry every week. 

To help kick off your New Year and keep your  vendor [...]

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Best Practices

What is your biggest Vendor Management Challenge?

Oct 9, 2015

Credit unions and banks face many challenges specifically with vendor management. To make sure we keep up with what those pain points are, we continually ask financial institutions' employees to [...]

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Best Practices

Venminder Setting the Industry Standard for Vendor Management

Jul 17, 2015

This interview is part of an ongoing series where 2ONE6 International speaks with various FinTech providers as well as financial institutions that choose to partner with the innovators in this [...]

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Best Practices

Wisely Restructuring Requires Strong Internal Management

Aug 19, 2014

Contrary to popular belief, you cannot just pick up your Core and IT service contracts a few months before expiration and hope to get it restructured in a way that is favorable to the franchise.

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