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Third Party Risk Management

SAI Global provides a variety of solutions to help you address the one aspect of third party relationships that cannot be outsourced - the risk of liability. Our advisory services and scalable technology solutions help you efficiently manage the entire third party due diligence process from collection and analysis of third party data to managing and monitoring required risk mitigation actions. From conducting due diligence assessmens to automating and streamlining follow-up actions, our solutions provide complete visibility into your third party relationships and their associated risks. With SAI Global, you can implement a systematic approach to third party risk management that will help you proactively mitigate potential risks and stand up to the scrutiny of audits, reviews and investigations.

Third Party Risk Management - Training and Awareness

Compliance, legal and regulatory risks can emanate from third party relationships in many varied forms. To help you proactively raise awareness to the indicators of potential issues and ensure proper response, the SAI Global training library addresses a wide variety of due diligence topics that are common risk areas in third party relationships. These include:

  • Anti-Bribery and Anti-Corruption
  • Conflicts of Interest
  • Anti-Money Laundering
  • Antitrust and Anti-Competition
  • Confidentiality & Intellectual Property
  • Corporate Responsibility & Sustainability
  • Government Contracting
  • Privacy & Data Protection
  • Information Security
  • Environment, Health & Safety

Consulting Services

At SAI Global, we hold ourselves accountable for your success. With a vested interest in your success, we offer planning, tailoring, implementation and optimization services to ensure that our training and awareness solutions fully address your needs. Our primary objective is simple: 100% success with your objectives. We invite you to explore our customer stories and learn more about our consulting services.

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Contact Us to learn more about using our Training and Awareness solutions to improve knowledge, influence attitudes and drive desired behaviors.

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Third Party Risk Management - Software

Regulators are increasing their focus on potential third party risks. They want to see organizations proactively identifying potential risks, verifying that business partners are compliant, monitoring for changes that might create new risks or compliance gaps, and managing the investigation and remediation of incidents. With Compliance 360 Third Party Risk Management, you have a complete platform for automating the essential processes and proactively ensuring vendor compliance. Capabilities include:

Contract Management

  • Organize and archive all contracts, with a particular view to those that impact your compliance program.
  • Ensure contract compliance with proactive alerts, reminders, task assignments and workflow-driven reviews and approvals.

Business Partner Management

  • Centralize the management of relationships with all business partners (vendors, service providers, affiliates, and more).
  • Streamline vendor compliance and risk management with automated assessments (for organizations and individuals) during the on-boarding process and on-going.  Include surveys, questionnaires and compliance attestations.  Ensure that your policies and procedures are fully utilized by your business partners.
  • Enhance and standardize your assessment questionnaires with industry-standard questions based on best-practice standard databases.
  • For issues identified in the assessment process, assign investigation and remediation tasks and use workflow to automate reviews and approvals.

Risk Management

  • Target your key business partners for proactive monitoring and assessments.
  • Tightly link compliance and risk assessments into comprehensive risk profiles for each business partner.
  • Incorporate third party risk management and vendor compliance metrics into your overall enterprise risk management program for a consolidated view of internal and external risks.
  • Provide risk management summaries and supporting details as needed for executive management and board-level oversight.

Verification

  • Manage the credentialing of vendors by incorporating industry-standard resources for verification.
  • Track and score individuals and organizations using your standards or government regulations.

Reporting and Dashboards

  • Utilize dashboards for at-a-glance status of risks tied to your business partners.
  • Monitor trends to anticipate and address potential issues and proactively prepare contingency plans.
  • Drill down into the underlying details to identify the root cause of third party and vendor compliance risks.

Consulting Services

At SAI Global, we hold ourselves accountable for your success. With a vested interest in your success, we offer planning, configuration, implementation and optimization services to ensure that our software solutions fully address your needs. Our primary objective is simple: 100% success with your objectives. We invite you to explore our customer stories.

Learn More

Contact Us to learn more about Compliance 360 Third Party Rick Management Software or schedule a live demonstration.

 

Third Party Risk Management - Advisory Services

Compliance with both the spirit and the letter of regulations such as global anti-bribery laws requires companies to maintain clear procedures for conducting due diligence (e.g., background investigations) on third parties, both prior to hire and during engagement. Companies must understand with whom they are conducting business if they are to successfully raise an "adequate procedures" defense to a bribery allegation under the UK Bribery Act.

Our Advisory Services group can work with you to conduct an initial diagnostic assessment and help you set up the tools needed to act on the findings, providing complete visibility into your third party relationships and their associated risks.

We can also work with you to modify other aspects of your C&E program, including your code, policies and procedures, reporting systems, training and communication, and disciplinary measures, to address third parties risks where needed.

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Contact Us to learn more about Advisory Services from SAI Global.
View recorded demonstrations of our Advisory Services:

 

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