Guided Workflow Delivered Via
AffirmX’s Risk Intel Platform
A Solution for Every Budget
The AffirmX Vendor Management Solution is a comprehensive project management program designed to provide your financial institution with the documentation tools and guidance it needs delivered right through the AffirmX Risk Intel Platform.
You’ll find a directed workflow, secure online storage of key documents for ready retrieval, questionnaires to guide you through the process, calendar prompts to keep you on track, and automatically generated reports to document vendor status at any point along the way. And because it’s from AffirmX, you’ll find it to be surprisingly affordable.
It runs on the same patented AffirmX Risk Intel Center platform that more and more financial institutions throughout the country have turned to as a key part of their risk management efforts. Our Vendor Management Solution offers:
- A secure cloud-based storage system for all vendor contracts, reports and due diligence documentation with individual file folders for each vendor;
- A customized Customer dashboard that displays pending and upcoming vendor due diligence tasks, alerts and notifications;
- A Request for Proposal (RFP) guide to facilitate the development of RFPs for the more critical vendor relationships;
- A checklist for vendor contract reviews;
- An online product/service risk assessment questionnaire that produces a written risk assessment document;
- A vendor selection questionnaire that produces a written vendor decisioning document;
- An online work flow management tool for each vendor that provides prompts for due diligence documentation, such as financial statements, audit reports, insurance certificates, user references, etc., with customizable due dates and assignment responsibilities;
- An online vendor risk assessment questionnaire that produces a written risk assessment report;
- Assistance with securing due diligence documentation for high risk vendors;
- An online vendor monitoring questionnaire that produces a written vendor monitoring report;
- An online vendor assessment questionnaire triggered prior to contract renewal that produces a written report to document the renewal or termination decision; and
- Vendor status reports for all managed vendors and a comprehensive detailed report reflecting all vendor management activities for each vendor in the system.