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Friday, March 01, 2013

Vendor Management Affects Regulatory Exams

by Michael Berman

Author: Crystal Gimesh
Donald Saxinger, senior examination specialist at the FDIC in a telephone briefing given to the ABA in December of 2012, revealed that “Inadequate vendor management was cited as a causal factor in 46% of the examination[s] that had their IT rating downgraded in 2012.” This telephone briefing was titled “Vendor Management: Unlocking the Value beyondRegulatory Compliance.” Mr. Saxinger stated that poor vendor management may not be the only issue, but it is frequently cited as a factor in the downgrade.
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