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Third party verification

High volume third party due diligence for compliance confidence

We make sure that the data generated by high volume third party compliance programmes doesn’t paralyse your team.
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Modern compliance processes have the potential to generate an overwhelming volume of data, which is only useful for risk-based decision-making if it’s accurate.

Risk Advisory has developed a third party compliance management software to help take the pain away. Third party-supplied questionnaires are systematically reviewed and checked by our multilingual specialists to ensure they’re complete and the information is accurate. The questionnaire is only released into the client’s risk management process once every line has been verified, with any ‘red flags’ highlighted. Our third party compliance platform offers the highest level of confidence that risk management decisions are based upon accurate data, and offers a full audit trail, and rapid commissioning of more tailored and in-depth due diligence services if they are needed.

BENEFITS

Clients who partner with Risk Advisory benefit from:

  • Expert verification team – A multilingual verification team that acts as an extension of our clients’ own compliance units, enhancing their capacity and reach.
  • Complete case management – Third party data that is entered and verified on the same secure platform that clients’ use for case management.
  • Highly flexible solution – Close alignment to our clients’ processes, accommodating their precise third party data requirements.
Always practical and thorough, Risk Advisory has been invaluable in helping us assess risks around counterparties and senior hires, particularly in Russia.
- General counsel at a global soft drinks company

    Key features of our third party verification service include:

    • Complete third party risk management solution with customisable monitoring
    • Single interface for all business partners, risk ratings, documentation and status
    • Flexible management information reporting and dashboards, and logging for comprehensive, efficient, trackable communications
    • Case management, approval, reminders, tasking and calendars
    • Commissioning of enhanced due diligence
    • Questionnaire verification and reporting
    • Vendor screening
    • Supplier screening

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