Vendor Risk Assessment

You must manage your vendors

You rely on vendors to do business. You expect them to be cost-effective and efficient while at the same time maintaining your privacy standards.

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The transfer of operations from internal resources to outsourced providers does not remove risk, it transforms it.

The WolfPACsm Vendor risk assessment allows you to establish risk ratings for important vendors based on security, financial stability and strategic alignment with your institution.

With WolfPACsm Vendor risk assessments you can:

  • Establish a vendor monitoring and management program
  • Create a contract renewal schedule to reduce overspending
  • Compare your risk profile against peers
  • Generate robust reports for management, board members and examiners

Don't let your hard work
go to waste

WolfPACsm modules work together. Technology vendors automatically appear in your Vendor risk assessment. Vendor risk ratings appear in other tools including the WolfPACsm Business Continuity and Enterprise risk assessments to ensure consistent ratings. The result is efficiency, cost savings and consistency across the entire risk management process.

Smart. Simple. Systematic.

LEARN MORE

Download the Vendor Risk Assesment Product Sheet

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Email Us or call (617) 439 - 9700

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What Our Clients Are Saying

WolfPACsm allows us to have a living risk assessment document. Instead of a manual process where reports are dusted off every couple years, our risk assessment program is updated on a regular basis and uses a common language and methodology.

Bob Costa
Randolph Savings Bank
Learn more about our clients