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Who Does Vendor Due Diligence?

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Question: 
We are trying to determine who should complete vendor due diligence, the department manager wanting a new vendor or the bank's risk department?
Answer: 

Tracking: could be risk management department.

Obtaining information: the department manager who wants a new vendor approved should gather the required information.

First published on BankersOnline.com 11/15/10

First published on 11/15/2010

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