The Vendor Management Umbrella Series Part 1: The Overview Download this infographic now
Here's your starting point of our 4-part series that covers the 3 primary components essential to building an exam proof vendor management operation at your financial institution. Those 3 components are:
Policy - Program - Procedures
Part 1 of the series begins with a high level review of the vendor managementumbrella and a brief description of the 3 components described above. Parts 2-4 break down each component of the umbrella in more detail.
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Defining the parts of the vendor management umbrella
How does each part fit into the big picture?
What is the purpose of each component?
Most importantly, what will your examiner expect to see in each of the three parts?
Think of vendor management as an umbrella. An umbrella has three important elements too. The canopy, the rod and the handle. Each plays an important role in ensuring you are covered during a downpour.