The Federal Government establishes third-party vendor compliance as the responsibility of the financial organization
that utilizes vendors. Best practices dictate that vendors are extensions of your operations, and you are responsible
for their actions. If you are like most organizations, you may not have an efficient method—or in some cases,
any method—to monitor third-party vendor compliance.
Risk assessing your vendor network and determining the appropriate oversight needed
Ensuring that you are performing the appropriate due diligence on new vendors, including capturing and analyzing critical information
Sufficiently monitoring and documenting your vendors’ ongoing performance to ensure they are meeting your guidelines
Ensuring your vendors are aware of industry requirements and your operating procedures
Verifying that your vendors are well trained and adhering to regulatory requirements
Please contact an Exceleras sales representative for more information!