Vendor Risk Management: Strength in Warning, Part One
Report Summary
Vendor Risk Management: Strength in Warning, Part One
Vendor risk management is rapidly emerging as a critical component of firms' operational-risk-mitigation activity.
Boston, July 23, 2014 – Vendor risk management aims to understand how a vendor operates its business so as to safeguard the firm and its clients. VRM is gaining significant attention within financial services and with regulators; while not a new function, VRM is stepping into the limelight as financial institutions begin to recognize the impact of their vendors and seek to protect their firms from vendor risk.
Based on a mid-January to mid-April 2014 online survey of 26 financial services firms located around the globe, this Aite Group Impact Report focuses on VRM teams' structure and scope of activities. It is the first in a series of three reports on VRM.
This 30-page Impact Report contains 19 figures and two tables. Clients of Aite Group's Institutional Securities & Investments, Wealth Management, or Wholesale Banking & Payments services can download this report.