Governance

3rd Party Code of Conduct as a Contractual Condition for Termination

While most companies have Code of Conduct for staff, not as many require their 3rd parties to sign such a document. Even fewer include violation of that Code of Conduct as a condition for cancellation of contract. As we all know, being associated with a 3rd party that has received adverse attention in the media could [...]

2017-10-20T08:18:32+00:00 September 22nd, 2017|3rd Party Risk, Compliance, Governance, Risk, Vendor Management|0 Comments

You’re Not Too Small for Multiple Lines of Defense

Classic risk management employs 3 lines of defense. But there's also a possible 4th line when it comes to regulatory issues, specifically vendor management. Please note that I have seen multiple titles that fit the roles below so don't get hung up on the titles. If you're a smaller institution and you wear multiple hats, you [...]

Plan Your Exit Before You Outsource!

When considering outsourcing a service, it's essential to have an Exit Strategy in place so that you can transition the service to another vendor or bring it back in house prior to or at the end of the contract term. This should be done before you even consider searching for a vendor. A well thought out [...]