Vendor Management

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AuditLink maintains the most robust and relative database of vendor due diligence and intelligence in the country. We set the standards for vendor due diligence for a national audience.

AuditLink does not just monitor all critical vendors like most other service providers in this space. We have developed an end-to-end process working as an extension of your team. Our process was developed with credit unions and CUSOs. Beginning with a full assessment process, we’ll move on to categorizing your vendors, determining the appropriate amount of due diligence to monitor, developing policy and procedures, and reporting to you, your Board, examiners, and third-party auditors. Our goal is to maintain the most relevant database of vendor due diligence in the country while performing the vital work that allows you to keep your eye on critical relationships.

If you prefer, you can request a demo before signing up.

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Description

Overview

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.

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