How Can We Help

• Determination of critical and high-risk vendors, as well as those with access to NPI/PII (non-public information/personally identifiable information)

  Critical vendors continue to gain regulatory attention, emphasizing the importance of organizations to determine which vendors are critical and high risk. In Venminder’s software platform, your organization can perform risk assessments and invite internal subject matter experts to weigh in to assess and risk rate vendors. Venminder’s subject matter experts can supplement missing expertise by providing qualified opinions on vendor risks.

  Your organization can customize scoring preferences for vendors and adjust the scoring weight for questionnaire responses. View the vendor’s risk profile in a single snapshot report to quickly identify areas of focus for deeper due diligence.  

• Establishment of minimum annual due diligence and control assessments required by regulatory guidance and industry best practices

  To ensure compliance, perform control assessments in Venminder’s software platform to quickly identify and assess vendor risks. The control assessments cover a broad range of risk types, including information security, compliance, and financial health. Risk assessment and questionnaire templates allow for greater consistency across your organization’s vendor inventory.  

  Automated tasks and oversight requirements ensure your organization stays on top of monitoring and managing vendor risks. Reminders on key dates ensure you don’t miss re-assessing risk and performing periodic due diligence.

• Drafting of an enforceable Third-Party Risk Management Policy and Program documentation

  Our subject matter experts can help your organization draft Third-Party Risk Management Policy and Program documents that align with your organization’s current practices and comply with regulatory guidance. Our experts have experience writing policies and programs, implementing programs, and working through exams and audits. 

  Venminder follows the most stringent third-party risk management regulatory requirements and can help your organization establish its own program guidelines.

• Implementation of a Third-Party Risk Management framework based upon the Policy and Program, as well as the platform’s functionality

  Venminder’s software platform manages vendor risk throughout the entire lifecycle, from onboarding to offboarding. This framework can be customized to meet your organization’s Policy and Program, while also maintaining regulatory compliance. Venminder will help your organization build a best-in-class program for any board, auditor, or regulator.

• Support the heavy lifting of onboarding each portfolio company’s vendors, contracts, and corresponding documentation onto the Venminder platform

  Venminder acts as a one-stop-shop for your organization’s vendor inventory, contracts, and documentation. Your organization will be better prepared for regulatory exams with information stored in one place. Onboarding can be a time-consuming process, so Venminder offers a platform to easily view each vendor’s risk and current documentation. Automated tasks ensure your organization stays on top of vendor documentation and mid-term contract reviews.

• Enhancing regulatory compliance in third-party risk management

  Venminder's team of experts stay updated on regulatory changes . They provide resources to help you understand regulatory expectations - one resource in particular is the regulations library - and the team makes appropriate changes to the platform. 

  The Venminder platform provides a sophisticated, streamlined third-party risk management process. The platform's ability to adapt to regulatory changes and provide a comprehensive view of vendor risks stands out, ensuring you can stay ahead of compliance requirements and changes.