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, 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
- Bank Service Company Act Policy – Topic 20
- Audit Policy – Topic 21
- Staff Training – Topic 22
- Retention of Documentation – Topic 23
Recent updates to this product:
OCC Bulletin – Third-Party Relationships: Frequently Asked Questions to Supplement OCC Bulletin 2013-29
FFIEC Press Release – Financial Regulators Revise Business Continuity Plan Booklet to Stress to Examiners the Value of Resilience to Avoid Disruptions to Operations
FDIC FIL-19-2019 – Technology Service Provider Contracts
Use of SSAE 18 Reports
The Vendor Management Program Policy Template (approximately 81 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
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