Vendor Management Program Policy Update

Product Update Notification

Vendor Management Program Policy Update - 07/25/06

Bankpolicies.com is proud to announce the immediate availability of our revised Vendor Management Program Policy Template product:

The revision to this product is in response to the FDIC's Financial Institution Letter 52-2006 issued on June 21, 2006 entitled "Foreign Based Third Party Service Providers - Guidance on Managing Risks in These Outsourcing Relationships." The guidance addresses risks inherent in outsourcing relationships between U.S. financial institutions and foreign based third party service providers, and provides steps that institutions should take to successfully manage such risks.

http://www.fdic.gov/news/news/financial/2006/fil06052.html

What's Revised

Topic 9 - Foreign Service Provider. The following subtopics were added:

Reputational Risk

Operational and Transaction Risk

Strategic Risk

Undisclosed Foreign Based Subcontracting Arrangements

The following topics were revised:

Risk Management

Compliance Risk

Due Diligence

Contracts

Monitoring and Oversight

Regulatory Agency Access to Information

Examination Considerations

Product Contents

Purpose and Contents - Topic 1
Policy Description, Authority and Scope - Topic 2

Risk Management - Topic 3

Organization, Responsibilities and Administration - Topic 4

Service Provider Due Diligence Standards - Topic 5

Contract Standards - Topic 6

Ongoing Monitoring Standards - Topic 7

Vendor Relationships with Insiders - Topic 8

Foreign Service Provider - Topic 9

Retention of Documentation - Topic 10

Includes the following form templates:

Confidentiality Agreement - Vendor (1 page)
Privacy Acknowledgment - Vendor (1 pages)

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$175.00 - List Price

- or -

$25.00 - Update Price (applies only to clients who have previously purchased our Vendor Management Program Policy Template) in addition to the following prior update (if applicable):

Vendor Management Program Policy Template Update - 01/18/06

If you have ordered our Vendor Management Program Policy Template after 06/25/06 you are eligible to receive this new product at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the list or update price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.

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