Results from the Compliance Week and Refinitiv survey revealed some surprising facts about companies’ third-party training; based on those results, the following article offers suggestions for how to enhance the process.
Determining which business partners to flag for enhanced due diligence all depends on the quality, and sources, of your data.
Outsourcing is nothing new, but recently we’ve seen companies increasingly rely on a network of third-party vendors to help them compete.
The ever-changing regulatory landscape and sheer volume of third parties requires organizations to rethink their processes around pre-contract due diligence and ongoing vendor assessment reviews. Today’s most successful programs rely less on tedious, manual processes while incorporating verified, up-to-date information on financial status, watchlist compliance and information security from trusted ...
A look at key investigations and enforcement actions in South America and Mexico in the past four years signifies a changing legal landscape that offers compliance lessons in advancing third-party anti-corruption compliance.
Marianne Ibrahim, director of global compliance at Baker Hughes, offers several best practices for the auditing of third parties.
Lumber Liquidators Holdings, a discount retailer of hardwood flooring, will pay a total of $33 million in criminal and regulatory penalties for misleading investors concerning the sale of its laminate flooring from China to its customers in the United States.
Internal audit is making strides in steering its focus and resources toward companies’ emerging risks—but there’s still some work to be done, the IIA says.
Technological disruption, the dark side of corporate culture, and evolving expectations from diverse stakeholders are all making the job of director more challenging, says a report by EY’s Center for Board Matters.
Compliance Week talked with Stuart Brock, director of Seal Software, about the risks faced by banks—not the least of which is third-party due diligence.
Compliance officers and chief risk officers of multinational companies are well-aware of the myriad risks that third parties pose in day-to-day operations.
Three cautionary tales demonstrate the potential trouble a company can find itself in when third parties are not actively monitored.
Examining how “high-performing” organizations handle their third parties lights the path for companies looking to strengthen the weakest links in their data chains.
Abercrombie & Fitch Senior Compliance Counsel Rob Seibel, a specialist when it comes to the implementation of a third-party risk management program, discusses trends and challenges around managing risks with third parties.
Using external firms and consultants can bolster the effectiveness of certain compliance functions. Abdicating too much responsibility, however, could draw the ire of regulators.
Not all business relationships have a happy-ever-after ending, but there are things both parties can do to mitigate the risks of a third-party breakup.
As firms increasingly turn to external partners, the risks they acquire can become an internal problem.
Third-party risk has evolved over time as companies continue to leverage outside products and services to gain a competitive edge in their markets. Understanding the finer points of a third-party relationship and what real risks exist has led to an industry of people, process, and technology solutions available to help ...
Today’s most innovative business leaders are taking an integrated view of risk and compliance, rolling critical business risks from the across the enterprise into centralized dashboards and reporting tools. This approach, known as Integrated Risk Management, allows for strategy-based (not just compliance-based) decision making, a reduction in risk management point ...