Program Design
This client is a large Community Bank. Our client received audit criticism that their Vendor Management program was not consistent with FDIC Vendor Management requirements. Our client's challenge was design a Vendor Management program that would satisfy the FDIC, protect the Bank and yet not prove so time consuming and cumbersome so as to be impossible to administer.
We partnered with our client utilizing Cheryl Gross & Associates project management methodology to:
Design a tiered requirements, risk-based Vendor Management Program that includes
the following components:
Risk Assessment and Requirements Definition.
Vendor selection requirements.
Contractual requirements.
Ongoing monitoring requirements.
Risk rate existing Vendors to establish review requirements and trigger mechanisms
for problem identification based on business and contractual risk.
We leveraged the efforts of our client's team by assigning a senior project manager to manage the project 1 day per week over a 3 month period. Working in partnership with our client we were able to design a fully compliant, risk mitigated Vendor Management Program.
Project Management 