The examiners aren’t letting anyone phone this one in any more, says Vendor Management expert. Vendor Management: One Size No Longer Fits All No. 1. The company’s existing approach satisfied the core requirements to be certain, but there were certain elements that no longer appeared as relevant, and there were others that needed to be added. There’s greater pressure to make sure the policy and procedure both address their needs and present themselves as manageable solutions. If there’s a field that requires a value on a form template, then the institution needs to fill that in. Leaving it blank or providing a static answer could raise concerns during the exam.”]
Source: https://www.cuinfosecurity.com/blogs/vendor-management-one-size-no-longer-fits-all-p-66