Provide information security awareness training across your organization creating a calculated approach to possible data breaches and security incidents by anticipating new threats and providing awareness to actively prevent incidents from occurring.

More Uses of the Vendor Management Toolkit:

  • Ensure you understand enterprise and divisional risk policies and standards underlying requirements, and the business requirements for managing and documenting on going compliance.
  • Establish a strategic roadmap of features and criteria to be incorporated into the vendor risk management program driving continuous improvement into the program.
  • Control: work closely with other workforce and sourcing solutions team members on critical initiatives; assess the impact of demand and sourcing initiatives on strategic partner governance and transition.
  • Identify opportunities to improve Operation strategies, business productivity or service to your agents and customers, recommend solution alternatives, and coordinate with other areas to implement improvements.
  • Confirm your organization ensures standard policies, process, procedures are followed to ensure efficient and effective operation of delegated functions and compliance with regulations.
  • Establish and maintain an Information Security framework that addresses policy, process, operations, people, and technology to protect the financial institutions infrastructure, corporate date and customer assets.
  • Facilitate communication between organization staff, management, vendors and technology resources to ensure cost effective quality service delivery to internal and external customers.
  • Arrange that your organization leads the technology Vendor Management and procurement function with a focus on maximizing cross enterprise leverage and developing / managing strategic vendor relationships.
  • Confirm your organization sets performance standards, review performance, and makes informed compensation decisions in accordance with all applicable Human Resources policies and procedures.
  • Provide accountability for procurement of goods and services related to the production of communications/marketing materials through contract performance management.
  • Confirm your organization contributes to the implementation of new policies, practices, appetites and solutions to ensure holistic understanding and management of risks according to industry best practices.
  • Formulate: direct and lead collaboration between enterprise systems and procurement, legal, and finance organizations to maximize contract value and mitigate risk.
  • Develop service level agreements (SLAs), create performance dashboards and tools to report on metrics, conduct routine vendor review, track contract renewal dates, conduct rounding and/or periodic spot checks on service, etc.
  • Develop training strategies to support the implementation of new or changed systems/processes and prepare your organization for change driven by learning initiatives.
  • Devise: proactively engage with corporate departments to support initiatives and strategies associated with key metrics for the unique partnership and the growth of that partnership.
  • Methodize: partner with business/operations/product and program teams to consult, develop and implement kpis, automated reporting/process solutions and data infrastructure improvements to meet business needs.
  • Gather, analyze and report metrics to Vendor Management Manager and key stakeholders on identified SLAs, regulatory metrics and key performance indicator surveys related to vendor performance.
  • Identify: work closely with the information security office to identify and monitor vendor issues, and track vendor risks to ensure mitigation plans are defined and implemented.
  • Secure that your organization evaluates new applications and system software products/enhancements; assesses functionality by comparing to existing applications to further improve the efficiency, performance and reliability of the production environment.
  • Establish that your organization communicates overall non labor trends/results to management on an ongoing basis and prepares a comprehensive communication strategy/approach to building system wide awareness on how to manage non labor and capital costs more effectively.
  • Provide insight and reporting on third party relationship and performance related matters; help develop and maintain enterprise level SLA reporting and requirements.
  • Confirm your organization performs highly complex analysis across multiple IT teams, technologies and roles to ensure current and future IT vendor needs are recognized and plans are developed.
  • Oversee monitoring of vendor performance against contractual obligations to ensure overall effectiveness of vendor provided services with the utilization of vendor performance dashboards, scorecards and/or reports.
  • Manage deal value by effectively structuring and negotiating changes, new services and other aspects of the contract and relationship in a way that optimizes the overall business case for Prudential.
  • Anticipate potential problems, develop contingencies and solution alternatives, and recommend a solution with consideration of resources, prioritization and financial impact.


Categories: Articles