Venminder is transforming the way financial institutions accomplish the overwhelming job of assessing and managing vendor risk. Branan will make a significant contribution as we continue to expand our product offering for our rapidly growing client base.
Elizabethtown, KY (PRWEB) March 22, 2016
Venminder, a leading credit union and bank vendor management software and services provider, today announced that Branan Cooper has joined the firm as the Chief Risk Officer. In this newly created position, Branan will lead the Venminder delivery team as the third-party risk management subject-matter expert in residence. The addition of Branan to the Venminder senior management team further demonstrates Venminder’s absolute commitment to financial institutions nationwide to elevate their vendor management program.
“I am thrilled to welcome Branan to the Venminder family,” said Dana Bowers, CEO and Founder of Venminder. “Venminder is transforming the way financial institutions accomplish the overwhelming job of assessing and managing vendor risk. Branan will make a significant contribution as we continue to expand our product offering for our rapidly growing client base. His background in third-party risk management is impressive, second to none, and will bring valuable insight that our clients will certainly appreciate.”
Branan is joining Venminder from the Bancorp Bank where he held the position of Senior Vice President and Director of Third Party Risk Management. He was instrumental in creating their Third Party Risk Management Program and implementing numerous enterprise-wide initiatives. Branan has held similar positions with PartnersFirst, the credit card division of Western Alliance Bancorp, and at MBNA America, as an Executive Vice President working as part of the risk management / compliance integration team as the company was acquired by Bank of America.
“I am excited to now be a part of the Venminder team’s dedication to growth and commitment to producing excellent vendor management examination results,” said Branan Cooper. “Venminder has a fantastic reputation throughout the industry and provides valuable services to financial institutions who are struggling to effectively and efficiently keep up with their vendor due diligence and ongoing monitoring. Venminder has what is needed to take banks and credit unions of all sizes to the level that they need to meet regulatory expectations. Equally important, an effective and efficient third-party risk management program creates a real strategic advantage for financial institutions.”
The new addition to the management team comes on the heels of Venminder recently completing a $4 million Series B financing round led by Bain Capital Ventures. The firm plans to continue development of its robust vendor management software platform as well as to expand their team to support increased demand for outsourced vendor management support.
Venminder has a team of due diligence experts who can significantly reduce your vendor management workload. The firm addresses the tactical challenges of vendor management tasks such as collecting compliance documentation, analyzing a vendor’s financial health, deploying paralegals to assist with vendor contracts, reviewing a vendor’s SSAE 16, monitoring a vendor’s cybersecurity posture and much more. While financial institutions cannot outsource ownership of vendor risk, they can outsource the tactical work of assessing the risk.
Venminder also has a software solution to organize, track and report findings to Senior Management, the Board of Directors and, ultimately, the examining bodies. It is a “must have” answer to meeting increasing regulatory requirements. The SaaS based software solution guides a user through critical processes such as risk assessments, due diligence requirements and task management. Visit http://www.venminder.com for more information.