Venminder Sample Control Assessments Posted7/19/2023 8:53:47 PM https://hubs.ly/Q01YgY4n0 One of the many features of Venminder’s platform is its control assessments. These completed risk assessments are not summaries of vendor data but actual control-risk assessments fulfilled and signed off by on-staff industry-certified experts. Venminder's team of experts will gather and comb through the vendor's due diligence documentation and evidence and verify each control's effectiveness. This includes but is not limited to comprehensive assessments of a vendor’s information security and privacy policies, SOC reports, data protection, contract compliance, financial health, reputational risk, business continuity/disaster recovery policies, and more! Venminder’s team can take on the burden of chasing, reminding, and collecting vendor documentation and evidence on your bank's behalf. Download a SAMPLE! Posted byVenminder Read More
Steps to Do Risk-Based Third-Party Due Diligence Posted7/19/2023 8:29:42 PM https://hubs.ly/Q01YgT890 Each third-party relationship your bank has involves a different level of risk. Since it's inefficient and ineffective to treat them all the same, you need to do due diligence based on the level of risk. In order to implement this, your bank needs to define the types, amounts, and frequencies of due diligence based on each level of risk.Download this infographic and matrix to learn how to do risk-based due diligence on third parties, steps involved in the process, due diligence examples based on third party risk levels, and a matrix of due diligence frequency guidelines. Posted byVenminder Read More