Vendor Management Software
Many institutions rely on third-party relationships as a strategic way to expand bandwidth and broaden services. But when you add vendors, you add risk, and your institution is responsible for managing that risk.
With WatchDOG® Elite vendor management software and vendor evaluation services from Regulatory Compliance, you can better understand your vendors, quantify and mitigate risks, and evaluate the contracts you have with those vendors to ensure compliance.
CSI’s Vendor Management Audit
Third-party vendor management can drain your institution’s valuable time and resources. But meeting these critical regulatory guidelines doesn’t have to be a burden. CSI WatchDOG’s vendor management software for financial institutions automates and streamlines the oversight of vendor relationships with:
- Information Gathering
Collect the necessary demographic data on vendors and classify each appropriately
Measure the impact, importance and sensitivity levels of the vendor
- Due Diligence
Gather associated data while performing due diligence activities consistent with FFIEC guidance and best practices
- Compliance Experts
Let CSI's compliance experts conduct thorough vendor due diligence reviews to identify the risk levels of each vendor
- Contract Management
Input and classify an unlimited number of vendor contracts
Store unlimited attachments related to third-party assessment questions and contracts
Enter comments regarding third-party vendor assessments that include auditing and tracking
Learn More About Vendor Management in Banking
Your vendors are directly linked to your organization, so their mistakes are a reflection on you. It’s your responsibility to ensure they’re held to the highest security standards.
Keep your institution safe and make sure your vendors are compliant with CSI’s third-party risk management for banks. Fill out this online form to learn more about how our bank vendor management software can protect the integrity of your institution.