CHALLENGE Balboa Thrift and Loan managed vendor data using Excel spreadsheets which was proving cumbersome. Their third party risk management program was very de-centralized and chaotic with vendor information scattered throughout departments within the institution. Their auditors and examiners began asking for more and more information as regulation shifted to ensure their third parties were being properly managed. Balboa’s team knew that they needed to find a solution that would enhance their processes and drive efficiency. “Regulatory expectations were hard to meet with our current processes. Managing vendors with spreadsheets and a simple rating system just wasn’t cutting it. We were tasked with creating enhancements to our due diligence and review process. This kicked off our

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