Vendor Management Resources

Have you been thinking about...
vendor management?

Third-party risk changes all the time. You may think you have it under control, but there is no area of risk management where a false sense of security is more dangerous. Your organization is vulnerable to risk from any aspect of a vendor's business - incomplete financials, lack of continuity plans, or spotty information security.

The cloud = someone else's computer.

What are the MAIN RISKS that your organization may encounter from third party sources?
Download our whitepaper and find out.

Vendors account for approximately 61% of data breaches - and that number is rising.

What does good vendor management look like?

Good vendor management is an exercise in risk and relationship management. You want vendors that are dedicated to supporting your business. That doesn't mean you give them a peek at your business plan, but you might include key vendors in strategy discussions so you can benefit from their expertise. And rather than haggle over cost, you'll want to come together on value, work together to find solutions, and build long term relationships with vendors.

What keeps you up at night?

The majority of your vendors are outside the financial industry, so they may not share the same security standards. If a vendor makes a mistake, your organization can incur millions of dollars in penalties, and that's just the beginning. The cost impacts from negative PR and lost consumer goodwill are incalculable.

"When the vendor has a problem, the bank's name makes the news."

Why Did the OCC Fine Morgan Stanley $60 Million for Deficient Vendor Management?
Read more.

Vendor's Keeper: How to Make Sure Your Third-Party Vendors Aren't Creating a Compliance Nightmare
Read the white paper.