Vendor Risk Assessment Basics & Best Practices
January 30, 2023
Vendor risk assessments are a part of the third-party risk management process that help determine risks posed to your credit union or its members due to a third-party relationship. Not only are vendor risk assessments a regulatory requirement, but they protect your credit union. You should be very familiar with the different types of risk and how to assess them. This helpful guidebook covers the bare basics on vendor risk assessments and walks you through the steps involved in doing one.
Download the eBook to learn:
- Why vendor risk assessments are important
- Differentiating vendor risk from criticality
- Categories of vendor risk
- Steps to complete a vendor risk assessment
Venminder is an innovative, customer-motivated company that is mission-driven to help solve the many challenges organizations face when managing risks from outsourcing to third parties.
Venminder provides a dedicated platform to empower effective end-to-end lifecycle management and mitigation of third-party risks. Venminder creates long-term collaborative partnerships with their customers, providing implementation assistance, product and best practices training, ongoing support, access to expertise and more.