TRAC provides automated information security tools for banks and credit unions

TRAC™ is
efficient,
effective,
and easy!

1400 N Washington Ave
Suite 103
Madison, SD 57042-1147
605-270-3321



Third Party Management

Third Party Management Dashboard The TRAC™ 3PM dashboard lists all of the third parties that the institution has entered and needs to manage. This dashboard identifies and tracks the last time the third party was approved, the next scheduled review date, and how many days remain until the cancellation notice date.	Click on image to enlarge Managing Third Parties with the Dashboard

Third Party Information Review Each third party needs to be reviewed as determined by the Third Party Management Program. The frequency of the review is determined by the level assigned to the third party based on the information they have access to, and the importance of their availability to the institution.	Click on image to enlarge Reviewing Third Party Information

Risk Assessment Review TRAC™ 3PM and TRAC™ Risk Assessment (RA) interface with each other to help link assets which were risk assessed to a specific third party. In this RA review, it can be determined when the last time the third party’s assets were assessed. If the asset's finalization date is not in compliance with your 3PM program, this serves as a reminder to review that asset in the RA module. If a user is not a customer of the RA module, assets can still be assigned to the third party and a finalization date can be manually entered.	Click on image to enlarge Reviwing a Risk Assessment

Perform Due Diligence Questions are defaulted in this section to help you assess the third party's status. These questions can be answered by the user, or sent to the third party in a questionnaire format. These questions can be customized if the user chooses.	Click on image to enlarge Performing Due Diligence

Review Contract Contracts need to be reviewed regularly to ensure compliance. Answers from the contract review section of the TRAC™ 3PM selection process are saved in this section. These answers only need to be reviewed to ensure the third party and the institution remain in compliance.	Click on image to enlarge Reviwing a Contract

Third Party Management Documentation Each review needs to be adequately documented to verify compliance with the Third Party Management Program. With the push of a button, TRAC™ 3PM will create and save a record of this customized documentation. The documentation will list everything which has been entered during the review process and store this documentation for review at a later time.	Click on image to enlarge Documenting Third Party Management