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 vendor 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.

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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 risk 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 outsourcing service 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.

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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 vendor management outsourcing service 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

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New Guidance for Characterizing Certain Broker-Dealers Under the SEC’s Customer Protection Rule

The SEC and FINRA issued updated guidance on the characterization of U.S. broker-dealers under the Customer Protection Rule. This new guidance states that Non-Covered Firms that solely engage in Non-Covered Firm activities are no longer subject to any Rule 15c3-3 requirements.

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FINRA Warns of Fake Agency Website

FINRA issued an alert regarding the appearance of a fake website purporting to be from the authority. The fake website uses the domain “finnra.org” in which the letter “n” appears twice.

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SEC OCIE Issues Risk Alert on COVID-19-Related Compliance Risks and Issues

The U.S. Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) has issued a risk alert on the COVID-19-related risks, issues, and challenges faced by SEC-registered investment advisers and broker-dealers, including those resulting from the widespread use of telecommuting practices and pandemic-related market volatility.

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2020 NSCP Aponix Survey

Highlights from the 2020 NSCP / ACA Aponix Cybersecurity Compliance Programs Survey

Benchmarking your firm’s cybersecurity program against those of your peers is a smart way to identify the compliance gaps your firm should address. Here are the results of the 2020 NSCP / ACA Aponix Cybersecurity Compliance Programs Survey.

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Preventing Financial Crimes

Money laundering has become a global concern over the past several years. In response, the U.S., Cayman Islands Monetary Authority and the EU are taking steps to increase AML efforts in their jurisdictions, and it is likely that other countries will follow suit in the coming years.

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Is It Time to Reset Your Password Reset Policy?

Many authorities are questioning whether mandatory password reset policies are worth the hassle. Get ACA's guidance on when, if ever, you can remove or relax your password reset policy.

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News

ACA Group Acquires Financial Compliance Firm, FINOP Consulting

Acquisition strengthens ACA’s outsourced financial operations offering for broker-dealers.

ACA Group Recognized on ESGFinTech100 Among Top Industry Innovators

We are thrilled to announce that ACA Group has earned a spot on the prestigious 2024 ESGFinTech100 list, joining the ranks of the world's most innovative ESG technology providers.

Financial Services Firms Lag in AI Governance and Compliance Readiness, Survey Reveals

The 2024 AI Benchmarking Survey by ACA Aponix and NSCP reveals that, despite enthusiasm for AI, financial firms lack formal AI governance frameworks, testing protocols, and third-party oversight.

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