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PRODUCTS AND SOLUTIONS

Financial institutions love Venminder because the tools are user friendly and you have an entire firm behind you to manage the everyday risks associated with third parties
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CONTACT SALES: (270) 506-5140

Let’s Explore

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Vendor Vetting Package

For every vendor you choose to do business with, there is foundational risk even if it’s limited to reputational risk. Therefore, step one in every new relationship should be to do the necessary research to know your vendor, meet regulatory requirements and protect your most valuable asset... your reputation. You can save time by having our team of experts do all the research and produce a comprehensive report for your files.
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Document Collection

One of the first and most challenging steps in vendor management is receiving the correct documentation from your vendors. The Venminder team can help by gathering a comprehensive set of documents on behalf of your financial services company to include audit reports, financials, business continuity plans, security testing results, policies, insurance certificates and much more.
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System And Organization Controls (SOC) Analysis

It is required that you review and understand your vendor's SOC report(s) to ensure that they have the proper controls in place to protect the interest of your financial institution. Our CISSPs can review your vendor SOC reports and do a complete analysis, including providing you with an overall risk score for each vendor. This service is highly recommended for your critical and/or high risk vendors.
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Information Security Assessment

Receive an easy-to-understand and comprehensive risk assessment of cybersecurity and information security that can dramatically improve vendor risk management. No more back and forth with vendors to gather required data. No more sifting through multiple reports. No more uncertainty about the information security risk a vendor poses to your institution.
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Vendor Risk Monitoring

Argos Risk is a powerful web-based solution that complements your risk management strategy by automatically gathering, evaluating, analyzing and risk scoring business information related to a vendor’s credit and business health. As new information is collected an email alert is generated to keep you aware of any changes to the risk profile of your key relationship.
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Vendor Management Program Template and Consulting

A thorough Vendor Management Program document is essential for expanding on the foundation that your board-level Vendor Management Policy created. The program is the underpinning of your vendor management protocol; it should be a hands-on type of document that the lines of business regularly use so they know what their role is in the vendor management process.
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Vendor Management Program Template and Consulting

For every third party you choose to do business with, there is foundational risk even if it’s only reputational. Therefore, step 1 in every new relationship should be doing the necessary research to know your vendor, meet regulatory requirements and protect your reputation.
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Paralegal Contract Review

At Venminder, we have a team of paralegal experts who know and understand the FFIEC guidance and can provide great assistance during your contracting phase with your vendor - whether that is a brand new contract or a contract being reviewed for renewal term.
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Vendor Financial Health Analysis

Cash flow, adequate funding, leverage, EBITDA, capital... these are just a few of the key elements to your vendor’s ultimate capability to deliver what they promised. Understanding your vendor’s financial health isn’t just an academic exercise. Financial viability is the foundational core that drives all other deliverables from your vendor.
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BCP Documentation Analysis and Executive Level Summary

In today’s world of outsourced, hosted and cloud environments it’s essential to understand the preparedness of your vendors when the unexpected happens. And the more critical the vendor, the more critical your assessment becomes to adequately managing operational risk.
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CYBERSECURITY ANALYSIS

The Cybersecurity analysis, prepared by Venminder staff CISSPs, will cover the 5 most critical elements of your vendor’s Cybersecurity preparedness as it relates to the product or service you buy from them. 
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Vendor Management Policy Template and Consulting

A well-written Vendor Management Policy is absolutely essential as the foundation of an effective vendor management structure. The policy should be board approved and very familiar to the senior management team. If vendor management is included in your audit or examination, likely the vendor management policy will be one of the first documents requested.
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Regulatory Compliance and Operational Analysis

Regulatory guidance and sound business practices dictate that your financial services company should thoroughly analyze a vendor's operational and compliance standards. This step is essential to ensure that they have the proper controls in place to protect the interests of you and your customers. These should include appropriate risk-based safeguards to ensure sufficient regulatory compliance specific to the product or service provided.