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Risk Management Due Diligence Third-Party Relationships

J.S. Held

European Human Rights Due Diligence (HRDD) Legislation – Preparing for the Future

J.S. Held on

Sustainable social development is increasingly viewed as critical to ensure the future stability of the global economy and planet. This often-overlooked element of the ESG (Environmental, Social, and Governance) agenda is...more

Sheppard Mullin Richter & Hampton LLP

Federal Agencies Request Comments on Risk Management Guidance for Third-Party Relationships

On July 13, the Federal Reserve, FDIC, and OCC proposed risk management guidance to help banking organizations manage risks related to third-party relationships, including relationships with vendors, FinTech companies,...more

The Volkov Law Group

The Importance of a High-Risk Due Diligence Committee

The Volkov Law Group on

Believe it or not, but companies are still struggling with third-party risk management systems. I know this sounds hyper-critical but many companies continue to hang onto paper due diligence systems (sometimes with or...more

Ballard Spahr LLP

OCC issues risk management principles for new activities

Ballard Spahr LLP on

On October 20, 2017, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2017-43 (the “Bulletin”) outlining principles that OCC-supervised banks should follow to prudently manage the risks associated with...more

Thomas Fox - Compliance Evangelist

Deep Dive Due Diligence: Part IV – Level III Due Diligence for 3rd Parties

Today, I continue my exploration of Level III, deep dive due diligence, by discussing how this should be considered for third parties. I am joined this week by Candice Tal, founder and Chief Executive Officer (CEO) of...more

K2 Integrity

The DOJ Expects “Third-Party Management” from Compliance Programs

K2 Integrity on

2016 was a banner year for global anti-corruption enforcement: the U.S. government set records in terms of both the number of FCPA actions brought and the total dollar amount of related fines. Meanwhile, governments from...more

Troutman Pepper

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

Troutman Pepper on

The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of...more

The Volkov Law Group

Coordinating Third Party Due Diligence and Procurement

The Volkov Law Group on

Third party risk management is easily one of the most challenging risks for compliance officers. With all the attention and hype surrounding third party risk, companies have marshaled attention and resources to mitigate the...more

The Volkov Law Group

Trust But Verify - Due Diligence with a Jaded Eye

The Volkov Law Group on

Ronald Reagan’s mantra with respect to US-Soviet relations in the 1980s applies with equal force to today’s world of due diligence. (I know it shows my age that I can recall this statement). Not all due diligence cases...more

The Volkov Law Group

Third Party Risk Management: Balancing Due Diligence Screening and Monitoring

The Volkov Law Group on

In response to aggressive FCPA enforcement and recurring problems with third parties, companies have spent substantial resources and time to design and implement comprehensive ethics and compliance programs. A key part of...more

The Volkov Law Group

The Evolving Due Diligence Standards and Beneficial Ownership

The Volkov Law Group on

In case you are not following all the latest scandals – Unaoil and the Panama Papers being two significant ones – we are seeing an evolution and possibly a revolution in due diligence expectations....more

NAVEX

Technology is Transforming Third Party Risk Management: Predicting the Future

NAVEX on

The definition of “effectiveness” for a third party risk management program is quickly changing — how is your organization keeping up? I usually avoid predicting the future because you are bound to get something wrong. ...more

Goodwin

OCC Releases Guidance on Third-Party Relationships

Goodwin on

The OCC issued guidance to national banks and federal savings associations in assessing and managing risks related to third-party relationships. The OCC defines a third-party relationship as “any business arrangement between...more

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