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Accelerate your due diligence efforts and reduce the workload

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Easily search the library, preview and purchase Control Assessments

The Venminder Exchange is a secure two-sided network for the seamless flow of our proprietary analyzed vendor data. It has changed how organizations gain access to qualified and certified control assessments. 

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REDUCE COSTS

A cost effective approach that saves time and resources

Appropriately reviewing due diligence documentation requires a specific set of qualifications and expertise. By using the Venminder Exchange you gain immediate advantages by allowing your already busy internal team resources to focus on the strategic decisions, save costs by avoiding the need to hire new full-time employees and get increased quality and uniformity in your third-party assessments.

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IDENTIFY RISKS

Streamline your processes

To remain competitive and mitigate risks, you need to make decisions on your new or current vendors fast. The Venminder Exchange enables you to quickly search for vendors, preview scores and order the assessments you need, so you can determine which of your vendors require your attention. 

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Completed assessments to empower your decisions for mitigating risk

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Financial Health Assessment

Understand your vendor's financial ability to support your organization in the short and long-term. We have assessed and reviewed the financial data to create a comprehensive report including risk indicators and monitoring recommendations.

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SOC Assessment

Understand the effectiveness of your vendor's controls and any gaps that may present risks. We have assessed the vendor SOC reports to provide an overall risk rating and call out areas of concern that may need attention.

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Point-in-Time Cybersecurity Assessment

Understand the most critical elements of your vendor's cybersecurity preparedness to reduce the risk of your vendors becoming your weakest link. We have assessed the four main areas of cybersecurity risk to provide an overall risk rating and informed next steps.

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Business Continuity/Disaster Recovery Assessment

Understand if your vendors can survive when faced with an unexpected disaster. We have assessed their plans to verify that they are adequate, identified any gaps and that they have actually tested those plans.

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Your Partner for risk

Experts to Guide You

Venminder's team is committed to helping organizations identify, assess and manage third-party risk. Through the exchange, you gain access to qualified and certified experts who know how to assess vendor controls and their effectiveness in reducing risk. 

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2020 Delivery Schedule

SOC Assessments

Financial Health Assessments

Business Continuity and Disaster Recovery Assessments

Cybersecurity Assessments

A network for collaboration between
TPRM professionals and vendors

Venminder Exchange
for TPRM Professionals

  • Search vendors in Exchange
  • Preview scores and purchase completed assessments
  • Use vendor scores and assessments to make decisions
  • Achieve industry standards and meet regulatory guidance

Venminder Exchange
for Vendors

  • View their own completed assessments
  • Monitor and be alerted of changes
  • Invite their clients or prospects to see their scores and purchase assessments
  • Gain insight into how they can improve scores

 

Benefits of the Venminder Exchange

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Speed

Identify faster which of your vendors require your attention.

To remain competitive and mitigate risks, you need to make decisions on your new or current vendors fast. The Venminder Exchange enables you to quickly search for vendors, preview scores and order the assessments you need, so you can determine which of your vendors require your attention. 

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Cost

Venminder offers an "a la carte" approach that allows you to purchase what you need, when you need it.

This can save you time and thus money as you can avoid having to hire full-time employees to do the due diligence work and you have the benefit of being able to leverage our in-house team of experts. Your internal team members can then focus on the important strategic decisions at hand. 

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Experience

The team at Venminder have years of experience and expertise across a broad range of industries, including the most regulated.

With Venminder and the Exchange, you have access to experts who offer both analysis and consulting, providing trusted third-party risk collaboration.

Our team holds a range of certifications and qualifications including: CISSP, Paralegal, CPA, CRISC, GCIH, ABCP, CCNA and more. These certifications reflect our expert knowledge and specialty in the industry. And, the team also always stays current on industry trends and best practices.

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Reputation

You are only as strong as your weakest link. You can spend a career or the long history of an organization building your reputation only to have it shattered in a moment when something negative happens because of a vendor. You could find your organization going viral for all the wrong reasons. 

A vendor could unexpectedly shut their doors or experience a business impacting event, causing operational deficiencies leading to bad customer experiences. Or, a vendor’s faulty security controls could lead to a data breach, causing fear to your customers that you’re not a safe partner.

Doing due diligence, including analyzing key documentation, on your vendors protects your reputation. The Exchange provides access to not only key information about a vendor’s controls and financials, but the analyzed component of the due diligence work as well, allowing you to see if any scary scenarios could damage customer and stakeholder expectations.

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Regulations

All of the major regulatory agencies have issued guidance on third-party risk management and even more specifically, clearly articulate due diligence must be conducted on all third parties to determine the level of risk associated with doing business with the vendor.

Even if your prudential regulator has not issued guidance recently, it’s always a good idea to keep an eye on the most recent and the most stringent guidance. By doing so, you can help to ensure that if you meet those standards, you’re following the best-in-class practices when it comes to managing risk.

And, to do due diligence, you need to collect information and documentation on a vendor and assess it to fully comprehend where the vendor stands and how risky they are to work with. Access to the Exchange provides you with various documents you need and they’re already assessed, taking the work off your plate and making you compliant with regulations.

Frequently Asked Questions

What are Control Assessments?

Control Assessments are assessments on vendors completed by Venminder experts and used by third-party risk professionals to evaluate and assign the risk level of a vendor in support of initial and ongoing due diligence. 

How are vendors assessed?

Venminder’s team collects documentation, artifacts and questionnaires from clients or directly from a vendor, then, an experienced certified subject matter expert analyzes and creates an assessment of the evidence provided.

How are vendors rated?

Venminder assigns vendors an overall risk rating of  Confident, Satisfactory, Cautious or Vulnerable. Depending on the assessment, vendors are also rated on individual controls with ratings of low, medium, high or severe risk. 

Who completes the Control Assessments?

Venminder has a large in-house team of experienced and qualified third-party risk experts who include CISSPs, CPAs, financial risk analysts, Paralegals and more.

What happens after I place an order for a Control Assessment?

After you have placed your order, the Venminder team will be notified and will contact the vendor for authorization to release the assessment and all supporting documentation to you. Once the release has been approved, you will be notified that the assessment is ready to be downloaded. 

How do I order a Control Assessment on a vendor not listed?

New Control Assessments are regularly added to the Venminder Exchange. If Venminder has not yet assessed a vendor that you would like to order a Control Assessment for, you can easily submit a request for that vendor inside the exchange. 

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Ready to learn more?
Get access to the Exchange

Accelerate your due diligence.

Learn more about the Venminder Exchange and how you can empower your team in making decisions to mitigate risks.

Already have access to the Venminder Exchange?  Login Now

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Latest News

Venminder received high scores in the Gartner 2019 Critical Capabilities for IT Vendor Risk Management Report.

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