Vendor Management Program Policy
This Vendor Management Program Policy is intended to ensure the risk management third-party outsourcing processes of a bank, credit union, fintech company, or other type of financial institution take into account the level of risk, complexity, and size of the organization and the nature of its third-party relationships via its Vendor Management Program.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Risk Management – Topic 3
- Organization, Responsibilities and Administration – Topic 4
- Third-Party Relationship Life Cycle – Topic 5
- Business Continuity Standards – Topic 6
- Vendor Relationships with Insiders – Topic 7
- Third-Party Payment Processors – Topic 8
- Foreign Service Providers – Topic 9
- Managed Security Service Providers – Topic 10
- Independent Consultants – Topic 11
- Financial Technology Company Providers – Topic 12
- Bank Deposit Products and Services Providers – Topic 13
- Bank Service Company Act Policy – Topic 14
- Audit Policy – Topic 15
- Staff Training – Topic 16
- Retention of Documentation – Topic 17
Recent updates to this product:
08/15/24 Update
Joint Press Release – Joint Statement on Banks’ Arrangements with Third-Parties to Deliver Bank Deposit Products and Services
The Vendor Management Program Policy (approximately 75 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Product Update Protection Plan
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