Tagged: third party due diligence

3 May, 2019

DOJ’s New Corporate Compliance Guidance: Training and Communications, Reporting and Investigations, Third-Party Management and Mergers and Acquisitions (Part III of V)

The Volkov Law Group has scheduled a free webinar on DOJ’s New Compliance Program Guidance for May 9, 2019, at 12 noon EST. Sign up HERE. The Justice Department’s new Corporate Compliance Guidance is keyed to the concept of a “well-designed compliance program.” Under this concept, we first examined risk assessments and policies and procedures. DOJ’s Corporate Compliance Guidance also addresses training and communications, reporting...

General

23 Apr, 2018

FCPA Compliance: When a Foreign Official is a Third-Party (Part II of V)

Compliance officers are trained to spot risks. They have an eagle eye and keen sensitivity. In some cases they have to overcome inaccurate designations – my favorite is a “PEP,” a politically exposed person. I sometimes hear the compliance equivalent of an “Oh, no, we can’t do business with him or her – he or she is a PEP.” Of course, we all know that...

Podcasts

11 Mar, 2018

Episode 29 — Building Blocks for an Effective Due Diligence Program (Part II of III)

Companies continue to face significant risks from their third parties. In response, companies are implementing sophisticated due diligence and third party risk management systems. FCPA enforcement risks are only one of several risks created by a company’s third parties. Companies have to screen and review their third parties for corruption, sanctions, money laundering, antitrust, human trafficking, child labor and reputational risks. In this three-part series,...

General

24 Jan, 2018

Cybersecurity and Third-Party Risks

Global companies are getting compliance overload, especially when it comes to third party risks. As we have seen over the years, third-party risk management involves significant risks on anti-corruption, AML, fraud, sanctions, human trafficking and a host of other threats to a company’s reputational standing. But that is not all – you have to add cybersecurity to the list of third-party risk management issues. Why?...

General

8 Sep, 2017

Live Webinar: How AI is Transforming Third Party Risk Management (via Live Stream)

Date: Wednesday, September 13, 2017 Time: 12–1pm ET; 5-6pm British Summer Time Registration Link I am excited to announce that I will be joining Exiger to discuss a topic many compliance professionals are actively engaged with – automating third party due diligence – and how advancements in technologies such as artificial intelligence (AI) can help your compliance program evolve. I encourage you to tune in and...

General

17 May, 2017

Effective Compliance and the Importance of Accounts Payable Function

As the compliance function has matured, Chief Compliance Officers have built important relationships with related functions that are critical to the compliance function. Over the last few years, we have seen the Justice Department and the SEC focus on company invoice to payment functions as a key area of concern when assessing the effectiveness of a compliance program. Last week, I had the honor of...

General

9 Nov, 2016

Due Diligence Basics – Beneficial Ownership

I hate to be the harbinger of bad news; that is against my nature; I am naturally an optimistic person. As I always say, there are solutions to every problem. Many companies have responded to third party risks and built effective risk management programs. It is perhaps one of the most significant changes in the compliance landscape – third parties create significant risks and companies...

General

31 Oct, 2016

Lessons Learned from Embraer $205 Million FCPA Settlement (Part II of II)

The Embraer FCPA settlement action contains a number of important lessons learned and compliance reminders. In several significant respects, the Embraer case confirms in several areas why proactive compliance programs are important to prevent and detect possible bribery schemes. Given the length of the Embraer investigation, we can only hope that many compliance programs have moved beyond the deficiencies highlighted in the case. Nonetheless, there...

Events

19 Oct, 2016

NAVEX Global Webinar: Benchmarking Your Third Party Risk Management Program in 2016

Wednesday, October 26, 2016 10:00 AM PT / 1:00 PM ET Register HERE Join Randy Stephens, Vice President, Advisory Services, NAVEX Global, and me for this free webinar to discuss NAVEX Global’s 2016 Third Party Risk Management Benchmark Report. Register to hear information on: Common challenges other organizations face when addressing third party risk Which screening and monitoring methods are most powerful How to measure...