Increasingly complex regulations and guidelines for vendor management published by the NCUA have created an additional regulatory burden on an already highly regulated industry. The new requirements add an exponential amount of work that must be done to maintain compliance. Existing solutions are linear and can’t keep up. AuditLink Vendor Management uses not only technology but a strategy which incorporates cooperation, scalability, and a deep knowledge of the regulatory requirements to help you pass that next audit.
Schedule of Tasks
Experienced AuditLink representatives help you to:
- Develop a sound vendor management policy
- Inventory your vendors
- Assess your risk
- Categorize your vendors using a risk-based approach
- Determine the amount of ongoing due diligence based upon the identified risk
- Monitor, review, and analyze information dynamically
- Report to management significant findings
- Automate, monitor, review, and report so you don’t have to
How It Works
AuditLink has a scalable, secure and powerful process designed specifically for financial institutions of all sizes. Designed with the help of financial institutions, the AuditLink vendor management service is built for vendor management practitioners specifically for our industry.
AuditLink employs dozens of professional experts. Our team guides you through the implementation process, build best practices specific to your organization and monitors the day to day work associated with performing due diligence. At the end of the month we provide detailed reports based on the performance of our teams and your vendors.