Vendor Compliance Manager 2.1 Takes Vendor Management to a New Level

OCEAN, N.J., April 20 /PRNewswire/ -- Compliance automation tools developer R.I.S.C. Associates announces the release of Vendor Compliance Manager™ (VCM) 2.1, an automated vendor management program that helps financial institutions quickly comply with regulatory requirements for vendor oversight.

"We've really become the de facto standard for compliant vendor management programs. Our clients span the US and now range in size from $55M to $10B and validate our vision on a daily basis. This latest release of Vendor Compliance Manager reinforces our commitment to stay ahead of the regulatory curve and deliver tremendous value to banks, credit unions and other regulated financial services institutions by providing industry-leading products with sensible pricing," stated Mick Kless, President and Managing Partner. "We've enhanced VCM so that those inside and outside of the organization who interact with vendors at various levels can be a part of the vendor management process. It helps distribute ownership and responsibility for vendor oversight and gets the program off the ground more quickly while maintaining centralized management of it."

VCM's Dashboard and Reporting features provide an intuitive interface for centralized management over often decentralized functions and enable the institution to track the status of any vendor with a click of the mouse. The feature-rich program includes a wide variety of functions such as automated risk rating, customizable vendor questionnaires, critical document lists, customizable email notifications, file attachments, advanced contract management capability, critical documents management capability, payment tracking, as well as a wide variety of reports suitable for examiner and auditor review.

"Our clients are quite varied but they all face the same challenge with regard to vendor management. VCM has helped them not just meet but exceed this extremely important regulatory requirement," stated David Schneier, Managing Director of Product Development. "The intuitive interface, features and functionality were designed by field practitioners and regulatory experts who understand the challenges of everyday vendor management tasks in addition to regulatory guidelines."

About R.I.S.C. Associates

Regulatory Information Security Compliance (R.I.S.C.) Associates is a leading regulatory compliance consultancy that develops compliance automation tools and also provides a variety of professional services to help credit unions and banks meet regulatory compliance with respect to information security.

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SOURCE Regulatory Information Security Compliance Associates