A vendor management program is critical to your bank's security and compliance with important regulations. Is your program solid enough to help you pass your next exam or will it be the reason you get you written up?
You are a Vendor Management Master!
Safe Systems would like to hear more about your Vendor Management program and share best practices with you to ensure your program is world-class. It's always a good idea to get outside validation and we would welcome the chance to learn from you too.
Many community financial institutions like yours work hard to have a functional and compliant Vendor Management program. Even though you may pass your next exam, there's room to improve and strengthen your program. Check out this white paper to learn how you can better manage risks brought by vendors and ensure your bank is compliant with regulations.
Your bank may be running the risk of a higher level of scrutiny during an exam. Every institution passes an exam or audit before they get written up. At some point, the Vendor Management program could be the breaking point. Safe Systems recommends having a third party audit your program to find efficiencies and make improvements to ensure a satisfactory result moving forward. Learn more about how we can help.
A comprehensive vendor management program will help your bank avoid serious issues as well as strengthen relationships with all your vendors. Too many institutions are hearing from examiners on this topic to take a chance at your next exam. You may want to reach out to a vendor you trust or have Safe Systems review what you have for free to discuss the next steps. Contact us for a free evaluation.