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We help align due diligence efforts and integrate with KYC/supplier qualification processes and screening technology.
01
The list of third-party compliance risks continues to grow. And those risks don’t stop with primary suppliers – it extends deep into a company’s supply chain.
Processes to manage these different types of third-party risk cannot be developed in isolation. They need to be aligned with each other and integrated with Procurement & Sales governance and supporting systems.
Integrity Bridge can support with:
Review and enhancement of third-party qualification, selection and master data governance
Review of third-party questionnaires, risk tolerances and approval frameworks
Selection of third-party screening tools
Integration of compliance controls within Customer Relationship Management and Supply Chain Risk Management platforms
02
A significant majority of global anti-bribery & corruption enforcement actions relate to the conduct of third parties acting on behalf of companies that are the subject of investigation, whether that be sales agents, distributors or service providers.
Management of this risk goes beyond due diligence. It requires:
Validation of the ongoing business case for using such intermediaries
Embedding due diligence in the relevant sales and procurement processes
Business leaders assuming ownership through active participation in the risk assessment process
Development and maintenance of appropriate order to cash/source to pay controls and ensuring the appropriate segregation of duties
A risk-based approach to transaction monitoring and third-party audits, utilizing technology where possible to minimize false positives
Collaboration with the Legal Department to incorporate risk-based compliance contract provisions
Integrity Bridge can support with:
Alignment of anti-corruption due diligence with sanctions and other screening processes
Review of existing anti-corruption due diligence process and order to cash/source to pay controls
Selection and configuration of third party screening & due diligence platforms
Selection and configuration of transaction monitoring platforms
03
Companies face potential forced labor risk within their supply chains, particularly in regions with weak labor protections or where vulnerable populations are exploited. To mitigate these risks, various NGO standards and an increasing number of laws require companies to map their supply chains, conduct appropriate due diligence and report on their efforts to combat forced labor.
This requires:
Identification of direct materials suppliers and service providers with elevated risk of forced labor
A risk-based approach to supply chain mapping, diligence and on-site audits, in coordination with Environmental, Health & Safety, Procurement, Sustainability and other functions
Partnership with direct and indirect suppliers to remediate identified issues
Integrity Bridge can support with:
Conduct of forced labor risk assessment to help prioritize due diligence activity
Design or review of Business Partner Codes of Conduct, Responsible Sourcing Policies, Conflict Minerals Policies & Modern Slavery Due Diligence Processes
Review of existing third-party screening tools to ensure forced labor lists are included
Selection of supply chain mapping tools and specialist human rights impact assessment auditors
Preparation of publicly modern slavery reports
Coordination and review of responses to customer/investor requests relating to conflict minerals and forced labor
Review of existing grievance mechanism to ensure grievances from employees in your supply chain are being appropriately addressed
Integrity Bridge has established Applied Compliance, a new resource center for ethics & compliance professionals. We also include links to third-party websites containing webcasts, podcasts and other materials involving the Integrity Bridge CEO.
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