ControlCase provides vendor management services that include managing connected entities through the ControlCase Vendor Manager (CVM) product and portal.
Step 1: Online Vendor Inventory
Upload the list of vendors and types of vendors within ControlCase Vendor Manager. This would help facilitate online schedules and online questionnaires.
Step 2: Questionnaire Distribution
ControlCase has developed checklists (or questionnaires) by category of vendor that assists auditors with preparation prior to the onsite audit. This questionnaire may be completed within CVM (if portal is used) or in paper copy format (if portal is not used). The questionnaires will be customized to meet client requirements prior to being sent out.
Step 3: Questionnaire Completion by Vendors
ControlCase will collect (online or offline as chosen) the questionnaires and any related data from the vendors.
Step 4: Pre-assessment Analysis
ControlCase and client will analyze the results of the pre-assessment checklists and responses. Client may be able to prioritize schedules and/or remove add vendors at this stage based on the information gathered so far. ControlCase will also use this opportunity to pre-populate the results repository for each vendor to the degree of information provided by them.
Step 5: Onsite Schedules
Onsite schedules will be jointly developed by client and ControlCase. This would be an ongoing activity and ControlCase will provide a central POC to client for all scheduling related matters. If the portal is used, all schedules will be available online as well.
Step 6: Onsite Test Scripts
Test scripts for onsite testing will be developed based on the data collected to far in the process. They may be broken down by type of vendor.
Step 7: Onsite Assessments
Under the Project Manager depending on the extent of efforts required at each specific site, number of sites for each vendor, calendar of activities, geographical locations and other such details, a team leader will be appointed for a cluster of vendors. The assignments on site will be carried out using the portal, where status on all the required compliances will be uploaded including evidenced thereof and the portal will be accessible to authorized representatives of ControlCase as well as client Bank.
Step 8: Review and Reporting
The team leader will review the findings and upload recommendations for remediation for non compliances, which will be taken up for quality audits by the project manager/one of the Senior Partners of ControlCase. Once the report is approved, the same will be released to client Bank by the Project Manager. A summary of the monthly activities conducted by ControlCase together with individual reports of the Vendors will be presented to client Bank.
Step 9: Remediation Follow-up Online
After the first cycle, remediation efforts will be tracked on the CVM portal.