Independent Consultant Policy
This Independent Consultant Policy Template addresses how a bank, credit union, fintech company, or other type of financial institution conducts appropriate due diligence to ensure that an independent consultant performing a functional engagement has the necessary expertise and resources to provide the needed services.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Regulator Assessment – Topic 3
- Submission Standards and Procedures – Topic 4
- Oversight of the Engagement – Topic 5
- Audit Policy – Topic 6
- Staff Training – Topic 7
- Retention of Documentation – Topic 8
NOTE: This product is intended to be a supplement to a financial institution’s vendor management policy. For a complete solution, please refer to our Vendor Management Program Policy which contains the full text of this template in addition to other related regulatory guidance.
Recent updates to this product:
Joint Press Release – Agencies Issue Final Guidance on Third-Party Risk Management
This Independent Consultant Policy Template (approximately 8 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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