Vendor Diligence and Management

Third-party risk management (TPRM) and vendor due diligence

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.

Our solutions

Vendor Due Diligence

Our team administers due diligence questionnaires (DDQs), ensures vendors reply in a timely manner, and provides vendor support.

 

Analysis

Our team analyzes DDQ responses, evidence, and audits to identify vendor risks.

 

Reporting

You can track vendor diligence progress and view findings in our vendor management software platform.

Additional Advisory Services
  • On-site validation
  • On-site vendor due diligence
  • TPRM program development
  • Vendor risk ranking

 

GDPR Vendor Diligence

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.

1 of
Solution Spotlight

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
  • Governance
  • Physical and environmental security
  • Network security, infrastructure, and operations
  • Organizational overview and structure
  • Financials
  • Legal and compliance
  • Vendor management and oversight
  • Change management
  • Cloud services
  • Access controls
  • Mobile device management
  • Resiliency
  • Asset management
  • Data loss prevention

Why ACA?

Clients

750+

Vendors diligenced

2,500+

Latest Insights

New Public Disclosure Obligations Under the IFPR: What, When and How?

On 26 November 2021, the FCA published its third and final Policy Statement, PS21/17, on the new Investment Firm Prudential Regime (IFPR), which subsequently came into force on 1 January 2022. The new prudential rules introduce more complex and onerous disclosure requirements for affected firms. Here we examine what these new obligations mean for MIFIDPRU firms.

Compliance Alert
  • Compliance
AdobeStock_317630718 1200x900.jpeg

SEC No-Action Letter Regarding Amended Rule 15c2-11

The SEC staff provided additional time for firms to comply with the amendments to Rule 15c2-11 in a no-action letter published in December, 2021.

Compliance Alert
  • Compliance
abstract blue shapes connected by dots of light

FTC 'Safeguards Rule' Strengthens Data Security Requirements and Broadens the Scope of Financial Institutions Who Must Comply

FTC Amends Gramm-Leach-Bliley Act ‘Safeguards Rule’ to Strengthen the Data Security of Financial Institutions

Article
  • Cybersecurity
  • Cybersecurity Resources

FCA Confirms Changes to MiFID II Rules on Research Plus an End to RTS 28 Reports on Best Execution

The FCA published Policy Statement PS 21/20 on Changes to UK MiFID’s conduct and organisational requirements on 30 November 2021, confirming the FCA’s proposals as set out in Consultation Paper CP 21/9.

Compliance Alert
  • Compliance
Architectural image - bridge

Q1 2022 Regulatory Reporting Deadlines

Regulatory filing submission deadlines for the SEC, CFTC/NFA, and FCA/ESMA occurring from January through March 2022.

Article
  • Compliance
  • Regulatory Technology
  • Regulatory Deadlines
Roads

ACA's Top 10 Articles of 2021

As we reflect on the past year, we wanted to take a moment to look back at our most popular articles from 2021.

Article
  • Compliance
  • Performance
  • Cybersecurity
  • AML and Financial Crime
  • Trade Surveillance

News

ACA Group Named Accounting/Due Diligence Firm of the Year by M&A Advisor

ACA Group announced today that ACA Aponix® is the recipient of the Accounting/Due Diligence Firm of the Year in the 20th Annual M&A Advisor Awards. The M&A Advisor Awards are the benchmark for dealmaking excellence, recognizing the leading M&A Transactions, Restructurings, Deal Financings, Product/ Services, Firms, and Professionals.

ACA Group Selected as a RegTech100 Company for 2022

ACA is delighted to be counted among the 100 most innovative RegTech companies in the financial industry.

ACA Group Named Best Regulatory Consultancy - North America by RegTech Insight

ACA is honored to be voted Best Regulatory Consultancy - North America in the RegTech Insight Awards 2021 USA.

Upcoming events

Compliance Induction - 18 January 2022

Senior management in Financial Services firms have a responsibility to ensure their employees have sufficient knowledge and understanding of the Regulatory environment they are working in. This knowledge helps in emphasising the need for compliance with policies and procedures in order to protect the firm and the individual from failing to “do the right thing”.

Online Training

Annual Compliance Training - 26 January 2022

The regulator is clear, you and your team must review your competence and training needs regularly. This course is designed specifically to assist all staff in meeting and staying up to date with their statutory and regulatory obligations.

Online Training

Client Money - 27 January 2022

Financial services providers that hold or control client money or assets must follow specific rules outlined in the Financial Conduct Authority’s (FCA) Clients Assets Sourcebook (CASS). This course is specifically designed to assist teams in dealing with client money audits and the client assets report, as well as helping them stay up to date with statutory and regulatory obligations in this complicated area.

Online Training