vendor monitoring lifecycle
DESCRIPTION
A new affordable web-based tool for managing complex relationships and compliance for companies. Currently helping banks and financial institutions scale their vendor monitoring compliance.TRANSCRIPT
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Business Trust and Reputation
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G2Link, LLC was founded in 2010.
Located in suburban Philadelphia, PA.
Our on-demand Trust and Reputation
Platform, is a flexible, scalable, web-based
solution that allows organizations to
understand their operational risk by
monitoring the trust and reputation of
customers, vendors and partners.
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1 2 3 4 5 6 7 8 90
1000
2000
3000
4000
5000
6000
7000
8000
!!Growth!!
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...Accelerating Regulatory Pressure to Manage Vendors...
“Due diligence is the responsibility of the institution, not the examiner.” -FDIC
“Due diligence is the responsibility of the institution, not the examiner.” -FDIC Examiner
“Banks right now are not doing enough of their own due diligence, They need to design compliance into all of their relationships.” -IDC
"Due diligence is a risk and compliance obligation."-FDIC
“...the buck stops with the bank who engages with that third party...” - Gartner
“... banks should raise red flags before regulators do....” -FDIC
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!!Downgrades!!
46% of the FDIC IT examinations in which bank ratings were
downgraded, inadequate vendor management was cited as a causal
factor -Donald Saxinger, senior examination specialist,FDIC
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Vendor Compliance Lifecycle
Selection
Implementation
Compliance Performance
Operational Performance
Renewal
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Current Solutions
OR +
• QA by Sampling
• Hunt to find Red Flags
• Data is Pulled from
Vendor
• Expensive
• Non-Scalable
• Reactive
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Wouldn’t it be Nice If...
Monitor ALL Vendors
Custom Compliance
Custom Risk Rank
Alerts PUSHED
{
{{
High
Med
Low
•Payments•Clearing•Settlement•Reputation•Operations•Customers•Non-Core•Staffing•Facilities
{
{{
High
Med
Low
•Annual Audit•Qtrly Financials•Monthly SLAs
•Annual CPA Cert•Annual Insurance Cert•Qtrly SLAs
•Annual Insurance Cert•Annual Contract Review•Annual SLAs
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Custom Vendor Compliance
SelectionDue
Diligence
Ongoing Vendor
Monitoring
Objective
Subjective
Operational
HighRisk
MediumRisk
LowRisk
Criteria 1 Criteria2 XXXYYY
QTR Financials Invoice Review Insurance Attny Cert Management
Criteria 1 Criteria2 XXXYYY
Criteria 1 Criteria2 XXXYYY
QTR Financials QTR XXXYYY
QTR Financials QTR XXXYYY
Customer Reviews
Supplier Reviews Industry HealthYYY
Security Audit MTLY SLA XXXYYY
QTR Financials QTR XXXYYY
QTR Financials QTR XXXYYY
QTR Financials QTR XXXYYY
QTR Financials QTR XXXYYY
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Categorize and Monitor
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Trends and Alerts
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Compliance Dash
HighRisk
MediumRisk
LowRisk
Series1
0 6 12
Objective
Subjective
Operational
Series1
0 10 20
Series1
0 6 12
Series1
0 6 12
Series1
0 6 12
Series1
0 6 12
Series1
0 6 12
Series1
0 6 12
Series1
0 6 12
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ImplementationLoad
Configure
Curate
Operate
Vendors
Data
Risk
Trust
Customers
Vendors
Certify
Alerts
Actions
Reports
90 Days