Exit a critical supplier only once every dependency is handed over

When replacing a critical supplier, trace data return, access removal, contract obligations and the substitute provider's readiness against the contract and continuity plan. Vendor Risk and Technology can complete the switchover and remove supplier access only when every dependency has a named owner.

What this SOP does

When a critical supplier is exiting or being replaced, the bank traces data return, access removal, customer impact and the substitute provider's readiness against the contract and continuity plan. The business owner approves transition only when every dependency is visible and assigned.

People in the process

VVendor RiskProcess Owner
TTechnologyParticipating Team
SSecurityParticipating Team
LLegalParticipating Team

The process is a starting point. The standards are yours.

Configure for the bank or lender’s category, permissions and applicable RBI directions. Outsourcing, customer conduct, recovery and reporting controls use the institution’s approved interpretation and delegated authority.

Keep the work connected.

Vendor Risk

Assess material IT outsourcing risk before the award

Before a material IT service is awarded, compare its criticality, data flows, subcontractors, controls and exit plan with the outsourcing policy and RBI requirements. Vendor Risk can bring security, supplier and legal exceptions to the business owner for an accountable award decision.

BTPL

Legal Recoveries

Choose SARFAESI, DRT or IBC from one enforcement file

When a loan defaults, bring the loan history, executed documents, security, certified statement of account, valuations and disputes into one account file. Legal Recoveries can confirm enforceability and limitation, and the recovery committee can choose the route before any notice issues.

CCRR

Legal Disputes

Defend borrower lawsuits from one approved fact record

When a borrower sues or escalates, reconcile signed terms, account statements, complaint history, notices and staff accounts into one approved fact record. Legal Disputes can track every filing deadline and counsel can plead consistent positions across consumer, civil and DRT forums.

OCE

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Order for the work. Room for the people.