Vendor Management Healthcheck

For each statement, rank your credit union or bank on a scale of 1 to 5, where 1 is weak and 5 is strong. If your score is less than 60, give us a call!

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Our vendor management program reduces expenses.

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2

Our vendor management program meets our examiners’ requirements.

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3

We have a thorough, comprehensive process to select and evaluate new vendors or renewals based on expected results.

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4

Our vendor management program includes a complete review of potential vendors’ due diligence information.

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5

Our vendor management policy and procedures are regularly reviewed and updated.

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We regularly train or re-train our staff on vendor management procedures.

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7

Our vendor management program includes management of all vendor contracts, not just select or critical contracts.

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8

We have assigned different team members to manage vendor performance and regularly train them on their responsibilities.

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9

Our system makes vendor and contract information available to everyone.

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10

We align our strategic plan with our vendors when choosing new vendors or renewing existing ones.

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11

We have a master vendor plan that considers vendor replacement and new vendors with our internal resources available to implement vendor products and services.

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12

Our vendor management program includes analysis of risk and risk-shifting in  vendor contracts.

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13

Our vendor management program covers the contract requirements of the FFIEC guidelines for third party relationship management.

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14

Reviews of vendor due diligence information are easy to do.

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15

We use our own vendor management system to track vendor performance and compliance with SLAs.

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16

Our organization understands our vendor management program and their vendor management responsibilities.

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Contact us

Empowering credit unions and community  banks to thrive™

Phone : 321-214-1776

Toll-free : 800-513-6839

Fax : 866-457-3460

Email: mssales@maplestreetinc.com

Think different: the Vendor Advantage System®

The only complete, outsourced vendor relationship management system that employs system thinking and a proven process to deliver vendor expense reduction, improved vendor performance and risk management so credit unions and community banks can thrive!

Office address:

280 Wekiva Springs Rd #3000, Longwood, FL 32779

Mailing address:

P.O. Box 915505, Longwood, FL 32791

© 2020 Maple Street Inc. All rights reserved.