Third Party Due Diligence Solution

A solution for companies who have a widespread network of business partners nationally or internationally.

The usual process to implement such a solution is for our advisory team to meet with the client legal and compliance teams to develop an understanding of the number and location of partners involved, as well as what the key issues are.

Utilising the Questionnaire Tool™   the client collects key information from partners and maintains a database of the information gathered on business partners. Through the embedded risk scoring and review process the client determines each partner’s risk level as derived from the information gathered through the questionnaire, and can then assign appropriate risk mitigation procedures to each partner.

The Partner Questionnaire Approval/Review process collects data from the questions completed by the business partner, which is then reviewed by the client. This process allows the client to review the partner’s details as well as collect and maintain its own impressions and information on the partner.

The Partner Questionnaire Risk Scoring system allows the client to develop a multi-level risk score of its business partners. These then translate into tailored, risk relevant due diligence parameters.

Through the Due Diligence Manager the completed questionnaire risk score links to the client’s due diligence programme, resulting in tailored due diligence investigation on each partner based on the risk level identified for that partner. The Due Diligence Manager allows for the tracking, managing and effective auditing of the due diligence process on all partners.

Utilising the IntegraWatch®  | Self-Service Watchlist  clients can bulk screen all low-risk partners through a simple online interface. This is a good way to establish baseline screening, especially when dealing with large numbers of business partners. Clients use this tool to quickly identify any partners with obvious compliance issues such as anti money laundering, state owned companies, politically exposed persons, terrorist financing, wanted criminals, export control or trade debarments listings. Approximately 900 international watchlists are screened simultaneously. Our screening tool utilises all available international watchlists from multiple sources. We do not parcel the watchlists into groups or tiers at different price levels, instead we offer all watchlists at all levels of screening. This is broad spectrum watchlist screening, designed to identify any watchlist presence.

Risk-appropriate Due Diligence is performed on the higher risk partners. These may be High, Medium, Low or sometimes even Enhanced level cases. Completed cases are delivered through the Due Diligence Manager. Those partners with issues to be remediated are processed on through the Partner Manager and Remediation Tool.

The Partner Manager is an online tool to maintain and manage your database of business partners, allowing you to:

• view the history of past processes involving a given partner
• make comments or enter/change the status of the partner
• upload contracts or other documents in a virtual file room
• initiate and manage current and future processes for that partner.

Within the Partner Manager, the Advanced Search and Dynamic Reporting Statistics/Metrics in each tool allow you to search against your partners and the employees initiating contracts with them, and therefore identify, know and manage your business risks and opportunities.

After compliance issues have been identified, the Remediations Tool tracks and manages the necessary remediation processes for partners.

As a part of the remediation process, Training Tool administers tracks and manages the necessary compliance training of partners.

The Policy Portal is useful to deliver, track and manage the necessary compliance policies to partners.

The final step is that our attorneys perform a Compliance Audit to review the partner’s compliance programme in order to ensure that the partner is in compliance with the requirements as defined in your policies and developed in your training.