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Banks and Community Banks


Venminder has extensive experience in helping banks and community banks meet strict regulatory guidelines on third party risk management.

Why Venminder

Bank Regulator Expectations for Third Party Risk Management

Regulators have high concerns for how banks manage their third parties and therefore have set out guidelines where the bank must have a third party risk program in place that addresses the vendors and the level of risk they pose.


Banks are expected to:

  • Have a policy, program and procedures in place
  • Complete and maintain due diligence
  • Monitor vendors on an ongoing basis
  • Make proactive decisions based on due diligence
  • And more…

How We Help

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Centralize the data on your third parties to efficiently manage, monitor and risk assess your third parties.

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Outsourced Services

Our industry experts and certified team can become your cost-effective staff augmentation answer.

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One size does not fit all. Whether you are a small or large organization, our solutions can be customized to your specific needs.

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Hot Button Issue
Third Party Cybersecurity Concerns

Cybersecurity has the attention of all bank regulatory bodies who have called on banks to address the risk through appropriate due diligence and ongoing oversight and monitoring.

It’s important that you can demonstrate that you are taking proactive steps to identify and mitigate potential areas of weakness otherwise you face enforcement actions or high fines.


All bank federal and state regulators have called for banks to remain vigilant as cyber threats are increasing in speed, scope and sophistication. They have stressed that third party risk management remains a top supervisory focus. 

Be aware that in the past several years, the CFPB has used UDAAP as a primary enforcement mechanism for many third party related items. Staying aware of all aspects of outsourced products and services is not only a regulatory requirement but also a best practice to prevent lapses that could lead to those costly UDAAP enforcement actions.

As a bank, you must

Ensure to have a third party risk management policy and program in place.
Be taking documented steps to assess and mitigate vendor risk.
Have an ongoing monitoring program in place. Third party risk is not a one and done exercise.
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