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Details about vendor risk management tool available
MADISON, Wis. (1/8/09)--More details are available about VendorTrack, a new CUNA Strategic Service (CSS), which will be the topic of several online demos this month and in February. VendorTrack is a Web-based vendor risk management solution offered by CSS and powered by TraceSecurity. It will be the focus of several webcasts offered Jan. 21, Feb. 4 and Feb. 18 at 1 p.m. CT. VendorTrack aims to help credit unions ensure that their third-party vendors comply with regulatory responsibilities and best practices when dealing with sensitive information. VendorTrack’s basic functionality is available to credit unions for free. VendorTrack will:
* Secure uploads and store data for documents such as policies, procedures, financials, SAS 70 and other due diligence information; * Create and maintain a list of current vendors and the importance of each relationship; * Upload third-party contracts and receive e-mail notifications to track contract dates; * Access vendor due diligence files that contain responses to CSS’ due diligence questionnaires, or due diligence files and information uploaded by credit unions; * Receive e-mail notifications for due diligence updates; * Offer a resource to prospect and compare potential new third-party relationships; and * Use other due diligence resource information including request for propoals, business plan and risk management updates.
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