Join us for part four of our live webcast series about creating a best-in-class compliance program.
Vendor Diligence and Management
Third-party risk management (TPRM) is the process of monitoring, validating, and remediating risks presented by third-party vendors. TPRM helps ensure your vendors protect your data, comply with regulations, and provide sustainable services that meet your requirements. However, vendor risk management can be a costly and time-consuming task. Our vendor management outsourcing service (VMOS) allows your company to offload the vendor due diligence and risk assessment process. Unlike other risk management solutions and vendor management software providers, ACA's VMOS will help your company save valuable time and resources in order to focus on more strategic tasks.
CONNECT WITH US
Our team administers due diligence questionnaires (DDQs), ensures vendors reply in a timely manner, and provides vendor support.
Our team analyzes DDQ responses, evidence, and audits to identify vendor risks.
You can track vendor diligence progress and view findings in our vendor management software platform.
- On-site validation
- On-site vendor due diligence
- TPRM program development
- Vendor risk ranking
We can help determine if your vendors are compliant with GDPR requirements, working towards compliance, or have not considered the implications of GDPR. Our vendor management platform includes a GDPR-specific due diligence questionnaire that can be administered as a standalone questionnaire at a reduced rate, or as part of the standard ACA Aponix vendor DDQ.
Our Vendor Management Software
Our vendor management software allows you to track DDQ progress and vendor risk assessment results. Key features include:
- Vendor Risk Dashboard — View key metrics (e.g., vendors diligenced, progress of diligence reviews, and vendor comments)
- Vendor Registry — View vendor data in centralized location (e.g., product lines, type of diligence performed, and contracts)
- Vendor Risk Matrix — View all risks identified (e.g., ratings, issues), vendor communication, and mitigation/remediation activities
- Questionnaire Status — Track the completion status of vendor DDQs and on-site reports
Why work with us?
Dedicated Team Of InfoSec Risk Analysts
Our vendor risk assessments are developed and managed by a team of information security risk analysts in ACA’s centralized, cost-effective analysis and review center (the ARC) in Pittsburgh, PA. The ARC’s dedicated VMOS team is overseen by an experienced vendor risk specialist and includes former senior managers in risk management, insider threat specialists, and data security officers from various industries, including financial services, banking, and healthcare. Over 750 clients and 2,000 vendors have chosen ACA to manage their vendor management process and mitigate third party risks.
Our Vendor Risk Assessments
Our tailored, proprietary vendor due diligence questionnaires (DDQ) include over 300 questions and are customized for each vendor type to provide an accurate assessment of possible risks. Topics include:
- General Data Protection Regulation (GDPR) compliance
- Cyber awareness training
- Physical and environmental security
- Network security, infrastructure, and operations
- Organizational overview and structure
- Legal and compliance
- Vendor management and oversight
- Change management
- Cloud services
- Access controls
- Mobile device management
- Asset management
- Data loss prevention
The investment industry is undergoing transformation due to technology, changing preferences, and regulations, while firms struggle with recruitment, compliance, and costs. Firms need efficient processes and technology adoption to reduce the burden on in-house resources.
- Managed Services
In this guide, we walk you through everything you need to know to start launching an exchange-traded fund (ETF), including the differences between ETFs and other product offerings, startup costs, necessary service providers, and how to gain assets via distribution.
On August 11th, ACA confirmed three financial services firms are experiencing phishing attacks using identical phishing emails and tactics. Firms should be on heightened alert.
The U.S. SEC has charged 11 financial firms for failing to maintain electronic communications, imposing penalties of over $289 million. This is part of a broader crackdown, with previous cases involving similar charges and penalties exceeding $1.5 billion, raising industry concerns about proper recordkeeping.
The UK FCA's Market Watch 74 focuses on transaction reporting issues, highlighting improvements but persistent data quality problems. It covers MDP usage, E&O submissions, validation rules, decision maker identification, and more.
There has been a rise in 506(c) general solicitation offerings due to factors such as shifts in SEC's attitude and increased enforcement of 506(b) rules.
ACA is proud to celebrate Hispanic Heritage Month from September 15 - October 15 alongside our Hispanic/Latinx Organization for Leadership and Advancement (HOLA) Employee Resource Group (ERG)!
ACA Group Enhances Surveillance Capabilities for Off-Channel Communications to Navigate Rising Regulatory Scrutiny
New partnership with LeapXpert will help financial firms surveil multiple messaging channels to meet client expectations while ensuring regulatory compliance.
The 2023 Investment Management Compliance Testing Survey results reveal marketing is still the top compliance concern. Cybersecurity and electronic communications follow closely behind.
Private Fund Reform Rule Deep Dive - Restricted Activities and Limitations to Preferential Treatment
This webcast will break down the restricted activities and limitations to preferential treatment established by the SEC's Private Fund Reform Rule.
Learn how technology can help you streamline the Best Execution review process and meet regulatory requirements.