Report vendor activity quarterly and the program review annually

Vendor Management policy, §10, §11

The CEO receives a quarterly report of new engagements, incidents, material findings, renewals, and open sponsor bank items; the sponsor bank receives vendor matters in the quarterly compliance report and a summary of the annual program review covering inventory accuracy, tiering, diligence and monitoring completion, issues, performance, and concentration risk.

Quarterly

Quarterly to the CEO; annual review summary to the sponsor bank

Compile the quarter’s vendor activity from the inventory for the CEO, and run and summarize the annual program review for the bank.

• Quarterly vendor report

  Dated report to the CEO

• Annual program review summary

  Sent to the sponsor bank with date

Compliance Officer

Leela can draft both reports from the inventory and the issue log.

Tell Leela about your company to see whether this applies.