Vendor Management Program Policy
The purpose of the Vendor Management Program Policy Template is to ensure the risk management processes of a bank, credit union, fintech company, or other type of financial institution are commensurate with the level of risk and complexity of its third-party relationships, as well as the entity’s organizational structures.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Risk Management – Topic 3
- Organization, Responsibilities and Administration – Topic 4
- Planning and Risk Assessment Process – Topic 5
- Service Provider Due Diligence Standards – Topic 6
- Contract Standards – Topic 7
- Ongoing Monitoring Standards – Topic 8
- Business Continuity Standards – Topic 9
- Termination – Topic 10
- Vendor Relationships with Insiders – Topic 11
- Third-Party Payment Processors – Topic 12
- Foreign Service Providers – Topic 13
- Managed Security Service Providers – Topic 14
- Independent Consultants – Topic 15
- Marketplace Lending Providers – Topic 16
- Data Aggregator Providers – Topic 17
- Model Providers – Topic 18
- Alternative Data Providers – Topic 19
- Financial Technology Company Providers – Topic 20
- Bank Service Company Act Policy – Topic 21
- Audit Policy – Topic 22
- Staff Training – Topic 23
- Retention of Documentation – Topic 24
Recent updates to this product:
Joint Press Release – Agencies Issue Guide to Help Community Banks Evaluate Fintech Relationships
Federal Reserve Press Release – Federal Reserve Publishes Paper Describing Landscape of Partnerships Between Community Banks and Fintech Companies
The Vendor Management Program Policy Template (approximately 94 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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