Large Financial Services Client

Challenge
A large Financial Services client was looking to improve and standardize its overall global vendor management strategy to comply with regulations and control vendor risk. The client asked Vistrada to help define, build and apply a consistent global vendor management policy within their Technology division.

Solution
Vistrada reviewed the client’s firmwide vendor management policies, the specific Technology and IT operations to identify gaps and weaknesses. Vistrada derived a plan for the division to adhere to firmwide policy requirements by assessing and establishing vendor risk profiles, identifying and recording specific risks, establishing risk management remediation plans, executing vendor management training and maintaining vendor profiles. Vistrada worked with the client to implement processes and procedures that would minimize the Technology division’s risk exposure.

Results
Thanks to Vistrada, the client’s Technology division has consistently met the vendor management programs certification requirements since 2010.

Vistrada also leveraged its success within the Technology division to help the client enhance cross divisional and cross regional (EMEA, Asia Pacific and Americas) vendor policies by participating in various forums and working groups.

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