Policy/Program Template or Consulting
Purchase model templates or consult on your current documentation for deficiencies.
Creating your Third-Party Risk Management Policy or Program documentation can be time-consuming and laborious. Once created, it’s also not just a “check the box” and done task – you must also continue to maintain the documents and ensure that they meet current regulatory expectations.
By partnering with Venminder, we can help you incorporate today’s best practices so you are in full adherence to regulatory expectations and can drastically improve your performance.
Ensure your documents meet current regulations and best practices
Your policy or program will be reviewed by experts who have written policies, written and implemented functioning programs and worked through numerous exams. We can also help customize the framework of your documents.
Consulting hours to meet your needs
You gain access to consulting and collaborative hours with our third-party risk management experts.
You’re assigned a Venminder Relationship Manager who is available to assist you as needed.
What it Includes
Provide you with a model template if you don’t have a policy/program or you would prefer to start from scratch. Consulting hours thereafter will help you adjust and customize it for your organization.
Analyze and review your current policy or program documents to identify and call out deficiencies that we believe you should address or updates we believe you need.
Set you up with consulting hours so you can collaborate with our experts on your policy or program, or both.
Why it's Important
Your regulators will expect you to have robust policy and program documents. The policy is usually a 5 or 6-page document that establishes standards, provides guidance as to the inherent and residual risks with a third party and the overall framework of the vendor management program. If vendor management is included in your audit or examination, likely the third-party risk management policy will be one of the first documents requested.
Additionally, a thorough program document is essential for expanding on the foundation that your policy created. The program is much more in-depth and outlines the concepts laid out in the policy.
Download a Sample
Sample Vendor Management Policy
Your Policy is your playbook that informs everyone in the organization of your plan to address third party risk. While there is no “one size fits all” when it comes to writing a good policy, we've put together a sample to show you what you could receive by partnering with Venminder.