Vendor Management Services

Your time is valuable and chasing down vendor information is time consuming, expensive, and often never gets done. As Quantivate's partner The Paragon Group provides outsourced due diligence services to make your vendor management implementation easier, faster, and more cost effective. The chances are your institution shares critical vendors with other institutions. This means that every institution is bearing the full brunt of the cost to meet regulatory requirements for vendor due diligence. We ask why not split the cost across many financial institutions. Working with your staff on an ongoing basis, Paragon's experts ensure your vendor due diligence program meets regulatory requirements in the following critical areas:

1. Developing a Due Diligence Plan
2. Establishing Consistent Criticality Rankings for Key Vendors/Contracts
3. Annually Gathering all Due Diligence Documentation from Vendors Such as (financials, SAS70s/ SSAE 16s, insurance certificates, credit reports, validation of incorporation, legal actions, information security documentation, human resources, business continuity, etc…)
4. Documenting the review of due diligence documentation
5. Conducting Risk Assessment interviews with vendor owners
6. Facilitating Annual Updates and Audit/Examiner Review