OCC, FDIC, and FFIEC third-party risk guidance all require financial institutions to assess vendor risk before and during the relationship. VendorRisk lets you build structured risk assessment questionnaires, automatically score responses, track both inherent and residual risk, and tie risk levels to review frequencies — so your program is consistent, documented, and defensible.
Use structured surveys to calculate vendor risk levels based on their responses.
Track both base-level and post-control risk by enabling dual risk field support.
Automatically assign a risk level when certain high-risk answers are selected.
Adjust diligence and performance review cadence based on vendor risk level.
Apply assessments broadly or drill down to specific assets and offerings.
Design as many templates as needed—tailored by risk category, department, or vendor tier.
Select Q&A, scoring matrix, or manual override to evaluate risk your way.
Define risk categories like Low, Medium, High—and assign point values that align with your program.
Convert flagged responses into follow-up tasks to resolve or mitigate risk.
Use completed assessments to keep your risk fields current—no manual data entry needed.
Assess inherent and residual risk, score responses automatically, and ensure your oversight cadence matches each vendor's risk level.
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