Vendor Risk Review Module

Risk assessments classify each vendor’s importance to your organisation, so that you know where to focus your on-going vendor risk management efforts — whether it’s in the form of formal diligence and performance reviews or just more communication and interactions with the vendor.

Using this module, you can start your vendor risk management process by initiating an internal risk profile assessment (per single vendor or as a campaign) for the relevant staff (e.g. Relationship Managers) to rate the criticality and inherent risk associated with each vendor.

Features Include:

• Perform unlimited risk assessments per vendor.
• Create unlimited risk assessment templates using the following methods:
  • Questions and Answers
  • Risk Matrix
• Configure risk levels & scoring thresholds to align to your current risk management methodology.
• Create up to 5 custom risk review fields.
• Upload unlimited risk-related documents for each vendor.
• Automate the scheduling of risk reviews by selecting future review dates and frequency.
• Receive email alerts for upcoming risk reviews & those needing approval.
• Create unlimited types of risk assessment reports.
• Create risk review committees that can approve/reject submitted risk reviews.
• Export risk assessments to Excel or PDF.