Regulatory guidance expects financial institutions to route third-party risk decisions through appropriate governance structures — with documented approvals, recorded findings, and clear accountability. Review Committees in VendorRisk let you define structured approval workflows, capture individual votes and rationale, and build the documented decision record your examiners will expect.
Link reviews and tasks directly to a designated committee for structured oversight and collaboration.
Members can approve, approve with findings, or reject—capturing detailed input at every decision point.
See who's approved, who's pending, and how many approvals are still needed—all in real time.
Set up as many review committees as your workflows demand—no limits, no bottlenecks.
Add comments at both the committee level and individual item level for complete context.
Trigger remediation workflows automatically when reviews uncover issues.
Designate first and last approvers to enforce structured, ordered decision-making.
Set dynamic rules—like auto-rejecting a review if more than one member disapproves.
Establish auto-approve or auto-reject roles to trusted reviewers for quick decisions.
Automatically include the item owner's manager for real-time, context-based committee assembly.
Maintain a full audit trail of how each committee member voted for compliance and transparency.
Turn committee-related emails on or off to suit your team's preference for visibility or quiet efficiency.
Route reviews through structured committees, capture votes and findings, and maintain a complete governance record.
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