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What Vendor Oversight You Should be Performing | VendorInsight®

Posted by Rachel McKenzie on May 10, 2019 10:21:32 AM

How Much Vendor Oversight Should Your Company be Performing?

It’s a common practice for enterprises to conduct due diligence on any prospective third-party vendor. But why do so many organizations fail to regularly evaluate their existing vendors?

A poorly managed vendor oversight program can be a point of pain for any institution hoping to function smoothly and efficiently. Without a consistent program for managing vendor risk, banks and financial institutions, in particular, face non-compliance with government regulations. This can not only pose financial risks but can also diminish a company’s reputation. 

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Topics: Third-Parties, vendor risk management, risk alerts, compliance, Audits, vendor, oversight, regulation, monitoring, regulators, vendor performance reviews

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