Venminder

Venminder offers a world-class SaaS platform that guides and streamlines third-party risk management. Today, more than 1,200 customers globally use Venminder to manage the entire end-to-end vendor lifecycle, from onboarding new vendors to ongoing management to offboarding vendors.

Venminder has mastered the art of combining technology with the human experience. This expertise empowers their platform to enable customers to manage vendors, contracts, due diligence tasks, questionnaires, risk assessments, and monitoring. Completed assessments on vendor controls can be ordered through their Vendiligence™ service to reduce due diligence review workloads and include thorough assessments of a vendor’s information security, SOC reports, contracts, financials, business continuity/disaster recovery, and more.

For continuous vendor monitoring, their Venmonitor™ tool provides intelligence for better risk-based decisions. It brings the industry’s best risk intelligence data into one central location, allowing you to screen vendor or supplier performance across multiple risk domains, including cybersecurity, ESG, privacy, Know Your Vendor, business health and credit risk, and adverse media.

For more information, visit venminder.com.

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400 Ring Rd, 162
Elizabethtown
KY
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NASBA Approved providers

National Registry

Registry ID

140591

Approved Delivery Method

Group Internet Based

Learn effective third-party risk management to help protect your organization, customers, and all confidential and proprietary information. Through this bootcamp, you'll gain: An in-depth look at impo …

Regulatory guidance and best practices continue to evolve and change. It’s clear that regulators are paying more attention to third-party risk management in recent years. However, it can be challengin …

A successful third-party risk management program should be capable of demonstrating its effectiveness and value to the organization. Program metrics are the tools that can assist you in achieving this …

Communicating the value of third-party risk management is important, yet many organizations struggle. The key to success is reviewing and understanding the data. So, what kind of data can help you com …

It's important for your credit union to have an effective system in place for identifying, managing, and tracking vendor issues. This process is called issue management and it helps you address and so …

Vendor performance is an essential part of third-party risk management, and service level agreements (SLAs) and key performance indicators (KPIs) are valuable tools in the performance management proce …

In today's world, cyberattacks and data breaches are becoming more and more common. Cybercriminals are getting smarter, and their attacks are on the rise. It’s no longer a question of if, but when an …

Many organizations need help determining appropriate staff levels for effective third-party risk management. However, the lack of regulatory guidance on the matter further complicates this challenge. …

You can probably identify a few vendors that provide a lot of value, but do you know which ones are critical to your organization? These are the vendors that your organization needs to function proper …

Vendor risks are always present, and you can never completely eliminate them, but it’s possible to reduce the likelihood, occurrence, severity, and impact of those risks through solid risk management …

Third-party risk management (TPRM) is a complex process requiring multiple stakeholders' involvement to ensure it runs smoothly. While it can be challenging to differentiate between the different role …

To effectively manage third-party risks, it’s recommended to perform risk-based due diligence that is customized to each product or service, their level of risk, and their criticality to your organiza …

You have your full inventory list of your third-party vendors, but did you know that you need to understand who your vendors are on a deeper level? Have you considered who your fourth-party vendors ar …

What happens if your critical vendor goes down? Can your organization still operate business as normal? Does your vendor have an effective plan in place to resume normal operations? These are all impo …

Vendor relationships can end for many reasons. Your organization’s needs may have changed, you’re looking for a new vendor who better aligns with your strategic goals, or your current vendor is no lon …

The onboarding process is the crucial first step in any vendor relationship, as it sets the foundation for managing the vendor and their risks throughout the partnership. What are the key components …

For many, it’s a regulatory requirement to report third-party risk management to your board and senior leadership. There are other committees and stakeholders that must be provided with reports and da …

For effective third-party risk management, it's essential to conduct appropriate vendor due diligence during the onboarding and ongoing stages of the relationship. And the level of due diligence requi …

Conducting vendor risk assessments is crucial for managing risks associated with third-party vendors. Still, it can seem like a daunting task for many organizations. To ensure its effectiveness, it’s …

Vendor SOC reports are essential vendor documents that organizations must review to verify the vendor has strong information security controls in place. This can be a daunting task, but it's crucial t …

Complementary user entity controls (CUECs) are crucial components of a vendor's SOC report. It's important to note that both your organization and the vendor share the responsibility to achieve contro …

You have already established the foundation for your vendor risk management program, but what should be your next steps? How can you attain program maturity? When you need to move beyond the basics, w …

The contract management process isn’t only about negotiating the best financial and legal terms for your organization. It’s also a key component of managing risk and vendor relationships. Comprehensiv …

A well-written vendor contract is one of your most valuable tools for managing third-party risks. The contract is essential for protecting your organization and its customers. Vendor contract manageme …

Vendor risk assessments are important for credit unions as they offer detailed information about how vendors handle risk. These assessments are necessary before signing a contract and throughout the r …

The third-party risk management process is complex and requires careful attention to detail and adherence to various requirements. Using the third-party/vendor risk management lifecycle can ensure pro …

To help your organization manage vendor risks successfully, it’s important to implement a thorough vendor financial health review process. This process helps you identify potential financial gaps at y …

It’s important to understand that risks associated with third parties go beyond your immediate relationships and may also include your vendors’, suppliers’, or service providers' subcontractors (known …

Continuous monitoring of your vendors is a best practice to keep your organization informed of risks posed throughout the vendor relationship – just because there’s not a vendor issue today, doesn’t m …

Third-party risk management is a complex system that requires a careful combination of processes, procedures, people, documentation, and more to work effectively. There are many key players involved i …

In the modern business world, organizations depend on third-party vendors for products and services to gain access to specialized expertise and maintain competitiveness. However, it's crucial to manag …

Your third-party risk management (TPRM) policy serves as the foundation of your program, and it’s meant to clearly identify the rules, requirements, roles and responsibilities, and governance and over …

Robust governance documents are essential for any effective third-party risk management program. These documents consist of policies, programs, and procedures that provide guidance to your organizatio …

Vendor risk management is the process of identifying, assessing, managing, and monitoring the risks associated with your vendor relationships and a fundamental process for every organization. It’s goo …

Every credit union has critical vendors, which are vendors who require the most attention in each stage of the third-party risk management lifecycle. What exactly does critical vendor mean? It’s impor …

The success of a third-party risk management program depends on a carefully integrated combination of rules, tools, processes, and people. To meet regulatory guidelines and follow best practices, your …

We know that regulatory requirements should inform our third-party risk management programs and practices. But what exactly do regulators really expect? How do we synthesize regulatory requirements in …

Issue management involves identifying, managing, and tracking vendor issues and taking a strategic approach to resolve the problem. A failure to identify and address vendor issues promptly and efficie …

Many organizations struggle to communicate the true value of third-party risk management beyond just regulatory compliance. In today's business world, data is king. What kind of data can help you comm …

Involving your board and senior management in third-party risk management is more than just a best practice. It's a regulatory requirement in many industries. But what role should the board and senior …

Keeping your organization and its customer's sensitive information secure is essential. Cybersecurity incidents can adversely affect your organization's financial health and reputation. Join us for …

Ensuring your vendors have the right risk management practices and controls is essential to the due diligence process. This often means requesting and reviewing a vendor SOC report. But knowing just h …

Do you need to verify that your vendor has the right internal controls to protect your data? Reviewing a SOC (System and Organization Controls) document is a good place to start. But how do you know w …

Sure, you know how to build a third-party risk management program that meets requirements and follows best practices. But how do you manage some of the more unique challenges third-party risk manageme …

Having a robust vendor due diligence process is a crucial part of a successful third-party risk management program. It helps you remain aware of and manage vendor risk posed. And it’s not only a good …

The Federal Reserve Board (the Board), Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) collectively introduced the Interagency Guidance on Third-Party …

The contract management process is not only about negotiating the best financial and legal terms for your organization, but also a key component of managing risk and vendor relationships. Structuring …

A well-written vendor contract is one of your most valuable tools for managing third-party risks, and it is essential for protecting your organization and its customers. Although contracts and contrac …

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Due diligence is a fundamental component of any third party risk program. When done correctly, it tremendously helps prevent risk to an organization and customers. Analyzing the documentation can beco …

Due diligence should be risk-based and tailored to match the product or service provided by a third party. It’s important to do initial due diligence prior to signing a contract and then ongoing due d …

What are the due diligence items to consider when reviewing vendors? Here's a handy vendor due diligence checklist. Check off as you complete and have confidence a thorough due diligence has been perf …

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9 Steps to Creating an Effective Third Party Risk Management Program

An effective third party risk management program is key to protecting your organization. Watch this 90-second video to learn 9 steps you can take to start this process.

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