Vendor Management Flashcards
1
Q
How does the criticality of a third-party relationship affect the level of oversight required for the vendor?
A
2
Q
What due diligence practices are recommended by NCUA regarding potential vendors?
A
3
Q
Do vendor relationships alleviate a CUs liability when there is a member complaint or compliance violation?
Is this still true if the CU includes certain contractual provisions?
A
4
Q
Should vendor contracts be reviewed by anyone in particular before a CU enters into a contractual agreement with a 3rd party?
A
5
Q
What due diligence areas does the FFIEC indicate are important to cover for technology service providers?
A
6
Q
When does the vendor management process end?
A
