Regulators, clients and senior management need assurance that regulated firms carefully pre-screen vendors and regularly reassess their suitability as a vendor.
The “Due diligence” undertaken needs to be on several levels to assess if the supplier is reliable to contract with, whether they are compliant with relevant legal/regulatory requirements and whether the service supplied has met contractual standards.
GRC-Maestro supports your Vendor Management requirements in a Maestro Solution with:
- Maestro-Templates: based on your specific vendor management requirements for each supplier and contract/service
- Schedules: periodically sending Maestro-Forms to managers responsible for the vendor interaction
- Incidents: evaluate responses with automatic and manual incident creation, reporting and resolution
GRC-Maestro evidences to regulators, clients and senior management that your vendors and their services are diligently managed.