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Frustration-Free Risk Management

Simplify cybersecurity risk management and tackle your cybersecurity challenges with ease. TRAC is a powerful GRC tool that automates the tedious risk assessment process and delivers customized results aligned with regulations, best practices, and your strategic goals.

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Why Choose SBS?

Vendor Risk Management Services

Managing vendor relationships is critical for financial institutions. With increasing regulatory pressure and rising cybersecurity threats, ensuring your vendors meet compliance standards is no longer optional; it is essential. SBS CyberSecurity’s Vendor Management as a Service (VMaaS) helps you reduce risk, maintain compliance, and save time by outsourcing the complexity of vendor oversight to trusted experts.

Trusted by Hundreds of Banks and Credit Unions

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What is Vendor Management as a Service?

Vendor Management as a Service (VMaaS) is a comprehensive solution designed to help financial institutions manage third-party risk effectively. SBS handles the entire vendor management lifecycle from due diligence and risk assessments to ongoing monitoring so your team can focus on strategic priorities.
Full-Service Vendor Management

Why Vendor Management Matters

Regulatory Compliance
FFIEC, GLBA, and other regulations require robust vendor oversight.
Risk Reduction
Over 60% of data breaches originate from third-party vendors.
Operational Efficiency
Free up internal resources while maintaining strong security controls.

Our Approach to Vendor Management

SBS CyberSecurity provides a structured, compliance-driven process.

1
Vendor Inventory and Classification
Identify and categorize vendors by risk level.
2
Due Diligence and Risk Assessment
Collect and review vendor documentation, contracts, and security controls.
3
Ongoing Monitoring and Reporting
Continuous oversight with detailed reporting for audits and exams.
4
Regulatory Alignment
Ensure compliance with FFIEC, GLBA, and other industry standards.

Benefits of SBS VMaaS

  • Compliance Assurance: Stay ahead of regulatory requirements.
  • Reduced Risk Exposure: Identify and mitigate vendor-related threats.
  • Time and Cost Savings: Eliminate manual processes and reduce administrative burden.
  • Expert Guidance: Work with a team specializing in banking cybersecurity.
SBS CyberSecurity Vendor Management Service

What to Expect from Vendor Management as a Service

Partner with SBS to develop a tailored Vendor Management as a Service engagement to ensure your organization and customers are protected from vendor risks. Your consultant will assist with tasks such as:

Standard Tasks

Create and manage an annual vendor management work plan.
Complete scheduled vendor reviews, which include due diligence and contract review.
Manage a Watch List to track problematic vendor risk findings, providing valuable insight into making decisions about continuing relationships with vendors on the Watch List.
Host regular meetings to provide comprehensive updates on ongoing activities, work plan progress, Watch List items, and challenges encountered during the vendor management process.

Optional Tasks

Vendor Management Oversight
Vendor Management Consulting
Vendor Management Mentoring
Risk Rating
Policy Creation
Policy Maintenance
Due Diligence Documentation Gathering
Financial Trend Reports
Annual Vendor Management Report 
IT Committee Meeting Attendance
Audit/Exam Vendor Management Preparation
New Vendor Selection
 

Why Choose SBS CyberSecurity?

Our passion is to guide and protect. Our objective is to be your trusted cybersecurity ally. It's in our nature to do more than merely provide a service — we aim to empower your team to make smarter, safer decisions. Our philosophy is built around three pillars that set us apart:

Cyber Advocates
Our experts don’t just speak tech — they translate it. We break down complex security concepts into clear, actionable guidance so your team feels confident and informed.
Proactive Approach
Our proprietary Information Security Program (ISP) Blueprint helps you shift from reactive compliance to proactive, strategic cybersecurity management.
Personalized Partnership
We listen first, then tailor solutions to your unique challenges. With SBS, you gain a trusted partner committed to your long-term success.

Frequently Asked Questions

What is VMaaS?

Vendor Management as a Service (VMaaS) is a comprehensive, outsourced third‑party risk management solution that helps your institution centrally manage the full lifecycle of vendors. SBS VMaaS combines specialized cybersecurity expertise, regulatory insight, and purpose‑built tools to give you a mature vendor management program without adding internal headcount.

What should I look for in a vendor management service provider?

When selecting a vendor management service provider, look for a partner that delivers structured processes, regulatory alignment, and cybersecurity expertise. A strong partner will offer comprehensive vendor lifecycle support and has cybersecurity-focused expertise.

Is VMaaS suitable for small institutions?

Yes. VMaaS is specifically designed for small and mid‑sized financial institutions that need an effective vendor management program but may have limited internal IT, security, or compliance resources.

For community banks, credit unions, and niche financial service providers, SBS VMaaS delivers outsourced expertise in cybersecurity, vendor due diligence, and regulatory expectations.

How does SBS ensure compliance?

SBS VMaaS is built to embed compliance into every step of vendor management. Our program aligns with FFIEC, GLBA, FDIC, OCC, NCUA, and state-level regulatory expectations, and leverages the SBS Vendor Management Program and SBS Information Security Policy Framework as core reference documents.

What’s included in ongoing support for vendor management service?

A mature service should maintain your vendor inventory, classify new vendors, adjust risk ratings as business needs change, and track contracts, SLAs, security attestations, SOC reports, and insurance coverage. Ongoing support also includes identifying gaps in documentation, requesting updated evidence from vendors, and validating that controls remain adequate.

Looking for a GRC Solution?

Manage your vendor risk confidently with TRAC. TRAC is a modular GRC platform designed for banks and credit unions that helps you build the rules for your vendor management program and vendor selection process, and allows you to easily monitor your existing vendors and third parties.
Learn more about TRAC
TRAC GRC Software - Vendor Management

Ready to Simplify Vendor Management?

We're here to help you find the right solution for your institution. Contact SBS CyberSecurity today to schedule a consultation and learn how our vendor risk management services can protect your institution.