GonzoBanker contributor Eric Weikart recently talked best practices with Jonathan Rogers, divisional CFO and SVP of $12 billion Trustmark Bank.
We have automated our highly popular and examiner-approved vendor risk assessment questionnaire and included it in Vendor Impact™, our cloud-based bank and credit union vendor management software.
Anyone that uses our software has access to it, and we use this tool for our customers who don’t use our software*.
This vendor risk assessment has been used successfully to risk rate more than 4,000 times and has been approved by every regulatory agency.
* If you already have vendor management software or don’t want to deal with software at all, no problem. We’ve got a solution for that too.
Optional software plus services = huge time savings and successful exams. Let us set up the software for you, load your vendors, do your risk assessments, gather and review your due diligence documents, and create your Board and examiner presentations so you can focus your time on making the best business decisions from our recommendations.
We are in the vendor evaluation business, so we are evaluating all aspects of the major vendors every day. Not only do we review vendor financials and attend vendor earnings calls, but we meet with vendor executives every Friday to get product, company and security updates. We track vendor wins and losses , monitor changes in market share , evaluate their products and know about problems before they’re public.
Many competing vendor management software and services are actually resold by your moderate to high risk vendors .
This means they will only share publicly available information. We on the other hand are Gonzo and share non-public vendor dirt every day, all day.