Responsible Sourcing & Procurement

Fulton Bank recognizes that by embracing a variety of local suppliers, we can drive innovation, create value, and contribute to changing lives for the better in our communities.

We are dedicated to:

Ensuring Fairness: We evaluate suppliers based on their qualifications, capabilities, and competitive pricing, without discrimination or bias. We also promote transparency and accountability in our procurement processes to ensure fair and consistent supplier selection. Where possible, we select local, community-based suppliers to help change lives for the better in our communities.

Building Sustainable Relationships: We strive to establish long-term partnerships with our suppliers, working collaboratively to foster mutual growth and success. We provide support and mentorship to help our suppliers develop their capabilities and capacity, including access to resources, training, and networking opportunities.

Engaging the Community: We actively engage with our communities to promote supply chain partnerships and economic growth within our communities. We participate in outreach programs, community events, and forums to raise awareness, share best practices, and encourage the growth of local, community businesses.

Supplier Code of Conduct

We recognize the vital role that our suppliers play in our success, and we value their contributions to our business. We are committed to upholding the highest ethical standards in all aspects of our operations, including our relationships with suppliers.

This Supplier Code of Conduct reflects our commitment to corporate responsibility and emphasizes principles of integrity, transparency, effective governance, diversity, environmental sustainability, and social responsibility. We expect our suppliers to share in these values and adhere to the principles outlined in this policy.

By adhering to this Supplier Code of Conduct, our suppliers play a vital role in upholding the values and commitments of Fulton Bank to ethical conduct and responsible business practices in our local communities.

Fulton Bank’s Vendor Risk Management Program

Fulton Banks’s Vendor Risk Management (VRM) program is an important component of the bank's overall risk management framework, enabling it to effectively assess, monitor and mitigate risks associated with its third-party vendors. In today's dynamic business environment, where banks increasingly rely on third-party vendors for various services and products, the VRM program plays a pivotal role in helping Fulton achieve its strategic objectives in multiple ways.

Enhanced Risk Management: The VRM program allows Fulton to proactively identify, assess, and manage risks associated with its vendors. This includes evaluating a vendor’s financial stability, regulatory compliance, information security, business continuity planning and other risk factors. By ensuring that our vendors meet the bank's risk tolerance thresholds, the VRM program helps Fulton mitigate potential operational, reputational, and compliance risks. Assisting in managing the risk of disruptions to the bank's operations and protecting its customers' interests.

Regulatory Compliance: Compliance with regulatory requirements is a top priority for banks. The VRM program helps Fulton adhere to various regulatory guidelines and expectations, such as the interagency guidance for third-party risk management, the Federal Financial Institutions Examination Council’s (FFIEC) applicable handbooks, and the Consumer Financial Protection Bureau's (CFPB) vendor management guidelines.

Information Security: VRM work closely with Information Security to assess vendor security controls and practices in place to protect sensitive data. This enables Fulton to work closely with the vendor community to stay abreast of trending security risks and implement technology to help mitigate potential issues.

Business Continuity: VRM in concert with the Business Continuity group review business continuity plans for applicable vendors assessing whether appropriate plans are in place to address potential disruptions, such as natural disasters, technology failures or other unforeseen events. This enables Fulton to assess the resilience of its vendor ecosystem and ensure that critical services provided by vendors can continue with limited impact from unplanned interruptions, safeguarding the bank's operations and customer service levels.

Cost Efficiency: Effective VRM practices enable Fulton to optimize its vendor relationships, ensuring that vendors provide value for money and deliver quality services. By conducting due diligence and ongoing monitoring of vendors, the VRM program helps identify potential cost-saving opportunities, negotiate favorable contract terms, and optimize vendor performance. This contributes to the bank's cost efficiency objectives and helps achieve cost-effective vendor management.

Reputation Management: Vendors can significantly impact a bank's reputation, as they often interact with customers on behalf of the bank. The VRM program helps Fulton ascertain that its vendors align with the bank's values and provide services that meet the bank's standards of excellence. This helps maintain customer trust, promote a positive customer experience, and safeguard the bank's brand image in the market.

Innovation and Agility: The VRM program supports Fulton's strategic objective of fostering innovation and agility. By evaluating vendors' technology capabilities, security measures, and ability to adapt to changing business and regulatory environments, the VRM program helps evaluate risk for vendors that can support its strategic initiatives. This enables Fulton to quickly onboard new vendors, leverage their expertise, and adapt to changing customer demands and market conditions, driving innovation and agility.

In conclusion, Fulton's Vendor Risk Management program is an important element of the bank's risk management framework and plays a pivotal role in supporting the bank's strategic objectives. It enhances risk management, enables regulatory compliance, promotes business continuity, optimizes costs, safeguards reputation, and fosters innovation and agility. By effectively managing risks associated with third-party vendors, the VRM program enables Fulton to mitigate potential risks, protect its operations, and achieve its strategic goals, contributing to the bank's overall success.
 

Online Supplier Registration

If you’re interested in doing business with Fulton Bank, please contact us here. Doing so will allow us to contact you if there’s an opportunity that fits your company’s description and you meet certain certifications.