Getting Vendors in Line: Developing a
Culture of Compliance and Effective
Vendor Management
Find out how you can increase vendor compliance through
contract language and negotiation techniques. Explore key
issues that affect vendors and certificate holders. And
discover how to get internal teams to play ball with risk
management as well…
Recording of this session via any media type is strictly prohibited.
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Lisa Deatherage
Chief Operations Officer
CertFocus
Lisa Deatherage is a risk transfer expert, and longstanding
member of RIMS. Lisa has presented at a variety of RIMS events
around the country on Risk Transfer. In her current role as Chief
Operations Officer of CertFocus, Lisa has complete responsibility
for customer implementation, customer service, quality
assurance, training, and product development.
Recording of this session via any media type is strictly prohibited.
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KEY CERTHOLDER ISSUES
• Separate Departments in various locations
• Disconnect between the need to use vendor
versus the need for a compliant certificate
• Decentralized Vendor and Contract Tracking
• Knowledge of Staff
• Support from the top
• Standardized Insurance Requirements
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KEY VENDOR ISSUES
• Do not always understanding the requirements in
the contract before signing
• Do not pay premiums on time letting coverage lapse
• Change insurance agencies often making it difficult
to maintain compliance
• Do not communicate effectively with Broker before
signing agreement or after certificate is submitted.
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CERTHOLDER FUNDAMENTALS
• Central Certificate tracking Methodology
• Standardized Workflow
• Centralize organization via single access point
• Centralize Reports
• Easy Access to information
• Accountability
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VENDOR FUNDAMENTALS
• Provide clear contractual requirements
• Provide single collection point for certificates.
• Provide a sample certificate that can be easily
accessed by vendor and broker.
• Provide a centralized communication process for
both vendor and broker.
• Outline specific consequences for non-compliance.
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SOLUTION
• Provides Centralized Tracking Methodology that can be
shared among all departments, divisions and locations
• Creates Standardized workflow for internal and external
users
• Scalable to allow self-service or out-sourced service
• Provides Centralized communication among vendor, broker
and client personnel
• Can be easily integrated into current processes.
Recording of this session via any media type is strictly prohibited.
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QUESTIONS, FINAL COMMENTS and
CONTACT INFORMATION
Lisa Deatherage
Chief Operations Officer
CertFocus
[email protected]
877.576.2378
www.certfocus.com
Recording of this session via any media type is strictly prohibited.
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