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ABA: The American Bankers Association
Industry Insight

9 Steps of a Vendor Risk Assessment

  • Brought to you by Venminder
  • Published August 8, 2024

Banks need to identify potential risks related to products and services provided by a vendor. One effective approach is conducting vendor risk assessments. These are both key for business success and are a regulatory requirement.

So, how do you go about doing a vendor risk assessment? This infographic covers the 9-step process.

Download now to learn:

  • 9 steps to complete a vendor risk assessment
  • The various risk types to rate your vendor
  • Requirements and timing for each risk rating

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