Gain a 360-degree view of third-party risk by using our SaaS software to centralize, track, automate, assess and report on your vendors. 

Managed Services

Let us handle the manual labor of third-party risk management by collaborating with our experts to reduce the workload and mature your program. 

Document Collection
Policy/Program Template/Consulting
Virtual Vendor Management Office
Vendor Site Audit

Ongoing Monitoring

Let us handle the manual labor of third-party risk management by collaborating with our experts.

Venminder Exchange

As Venminder completes assessments for clients on new vendors, they are then made available inside the Venminder Exchange for you to preview scores and purchase as you need.


Use Cases

Learn more on how customers are using Venminder to transform their third-party risk management programs. 


Venminder is used by organizations of all sizes in all industries to mitigate vendor risk and streamline processes

Why Venminder

We focus on the needs of our customers by working closely and creating a collaborative partnership

Sample Vendor Risk Assessments

Venminder experts complete 30,000 vendor risk assessments annually. Download samples to see how outsourcing to Venminder can reduce your workload.



Trends, best practices and insights to keep you current in your knowledge of third-party risk.


Earn CPE credit and stay current on the latest best practices and trends in third-party risk management.  

See Upcoming Webinars

On-Demand Webinars



Join a free community dedicated to third-party risk professionals where you can network with your peers. 

Weekly Newsletter

Receive the popular Third Party Thursday newsletter into your inbox every Thursday with the latest and greatest updates.



Venminder Samples

Download samples of Venminder's vendor risk assessments and see how we can help reduce the workload. 

State of Third-Party Risk Management 2023!

Venminder's seventh annual whitepaper provides insight from a variety of surveyed individuals into how organizations manage third-party risk today.



How to Write a Vendor Management Policy

CPE Credit Eligible

Is your risk management policy effective?

For vendor management, there are three unique sets of documents that you're going to want to create and update. The first document you should focus on is writing a third-party risk management policy. In today's podcast, we're going to cover steps that will assist you in getting starting writing an effective risk management policy.


Podcast Transcript

Welcome to this week’s Third Party Thursday! I’m Brittany Padgett here at Venminder. Brittany_Padgett_Circle

In today’s session, we’re going to discuss one of the first steps in developing a third party risk management discipline. It’s writing a third-party risk management policy.

For vendor management, there are three unique sets of documents that you’re going to want to create and update – a vendor management policy, a program and a set of procedures. While these are interrelated, there are some key differences. So, let’s discuss the policy. 

First off, what’s a vendor management policy? It’s a document used to assert how your organization will manage its third parties and the risk associated with outsourcing certain activities. It guides your vendor management work. 

Here are some steps that we hope will assist your organization with creating this document. 

1. First, remember that the policy should be high level. It’s written at the board level and should essentially describe the purpose of third party risk management and outline in basic but broad terms how third-party risk management at your organization will be handled. 

2. Second, include details regarding the 6 pillars of vendor management. The pillars are:

• Selecting a vendor
• The risk assessment
• Due diligence
• Contractual standards
• Reporting
• And ongoing monitoring

3. Third, you’ll want to include any relevant guidance when developing the policy. Add to the document if guidance is updated or new guidance is released. This is crucial. Examiners will be looking for this.

4. Fourth, it’s a best practice to use as much of the same terminology as used in the guidance so you’re speaking in regulators' terms they readily recognize.

5. Fifth, be sure to discuss the work product expectations in the policy. This will help eliminate any possible confusion from department to department across the organization. When reviewing work product during an internal audit or prior to an examination, you’ll want to verify it matches what you’ve relayed in the policy documentation. A common mistake we see is a work product doesn’t match the policy’s stated objectives.

6. Sixth, since it’s high level, you’ll want to ensure that it’s narrow in scope and shorter – 5-6 pages will usually suffice since you’ll go into much more detail in the program documentation.

7. Seventh, make sure your policy is approved annually by your senior management and board. This is also very crucial.

By following all these seven steps you’ll be off to a great start. I hope you’ve found these recommendations helpful and feel ready to begin drafting, or revisiting, your organization’s vendor management policy.

Again, I’m Brittany and thanks for tuning in to this week’s Third Party Thursday; if you haven’t already done so, please subscribe to our series.


Subscribe to our Third Party Thursday Newsletter

Receive weekly third-party risk management news, resources, and more to your inbox.


New Call-to-action

Ready to Get Started?

Schedule a personalized solution demonstration to see how Venminder can transform your vendor risk management processes.

Request a Demo