An important part of the job duties of any compliance practitioner is clearing red flags which might appear for a proposed third-party relationship during the due diligence process. It is mandatory that not only must all red flags be cleared but there also be evidence of the decision-making process to show to a regulator if one comes knocking.

Three key takeaways:

1. There is no set formula for See more +

An important part of the job duties of any compliance practitioner is clearing red flags which might appear for a proposed third-party relationship during the due diligence process. It is mandatory that not only must all red flags be cleared but there also be evidence of the decision-making process to show to a regulator if one comes knocking.

Three key takeaways:

1. There is no set formula for clearing of red flags or the evaluation of due diligence.

2. Know when to say enough has been done.

3. You must “Document, Document, and Document” your evaluation of any red flags. See less -