CUNA DUE DILIGENCE TASK FORCE
CUNA formed the Due Diligence Task Force in order to respond to concerns from credit unions and regulators over how to best meet credit unions' due diligence responsibilities involving third-party vendors without unnecessary duplication of effort.
To fulfill this purpose, the Task Force has developed the CUNA Due Diligence Task Force's Third-Party Vendor Management Guide as a comprehensive resource for all aspects of credit unions' third-party vendor management responsibilities, including risk assessment and planning, due diligence, contract formation, and risk measuring, monitoring, and control.
In addition, please find sample best practices submitted by credit unions to the Task Force under Shared third-party vendor management procedures and policies.
THIRD-PARTY VENDOR MANAGEMENT GUIDE
CUNA Due Diligence Task Force's Third-Party Vendor Management Guide
SHARED THIRD-PARTY VENDOR MNGMT. PROCEDURES AND POLICIES
Shared third-party vendor management procedures and policies.
DUE DILIGENCE RESOURCES AND LINKS
Perimeter eSecurity Blog: Third-Party and Partner Risks To Your Business
NCUA Guidance on Due Diligence:
- Evaluating Third Party Relationships Questionnaire (Letter No. 08-CU-09)
- Letter No. 08-CU-09 Questionnaire (spreadsheet)
- Evaluating Third Party Relationships (Letter No. 07-CU-13)
- Evaluating Third Party Relationships, (07-CU-13 Enclosure)
- Specialized Lending Activities--Third-Party Subprime Indirect Lending and Participations (Risk Alert No. 05-RISK-01)
- Specialized Lending Activities (Letter No. 04-CU-13)
- Specialized Lending Activities (04-CU-13 Enclosure)
- Investment Safekeeping Due Diligence (Letter No. 04-CU-04)
- Due Diligence Over Third Party Service Providers (Letter No. 01-CU-20)
- Risk Management of Outsourced Technology Services (Letter No. 00-CU-11)
VendorTrack™ - Vendor Management Application
VendorTrack™ allows your credit union to centralize vendor due diligence information, manage relationships, assess vendor risk, and ensure compliance with policies and controls.
