Proactively Mitigate Third-Party Risk
Vcheck Global’s risk-based due diligence helps decision makers proactively manage their third-party risk throughout the relationship life cycle.
Our investigators help compliance officers and third-party risk management programs determine the level of risk posed by a third-party relationship and the necessary level of due diligence required to mitigate that risk. By efficiently evaluating third-parties, our clients can focus their resources where it matters most by quickly adjudicating relationships that pose little to low risk and focus on those that might garner regulator scrutiny.
Identify, Mitigate, and Avoid Third-Party Risks
Each day, corporations around the world are exposed to third-party risk from the potentially tens of thousands of agents, partners, suppliers, and vendors they work with to deliver goods, services, and operate their business in a global economy. This includes banks and investment firms who, in the eyes of regulators such as the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency, are responsible for any harm that may come to customers indirectly from vendor relationships.
Effectively managing third-party risk is incumbent upon global companies who have a responsibility to avoid, mitigate, and prevent regulatory and human-rights violations, global corruption, and protect their reputations.
The sheer size and significance of fines and enforcement actions over the past few years are good indicators that global enforcement of corruption will continue its upward trend for the foreseeable future. The role that third-party risk occupies in these actions reinforces the need for organizations reliant on third parties, particularly in high-risk jurisdictions, to conduct comprehensive and risk-based third-party due diligence. Effectively managing third-party risk is incumbent upon global companies who have a responsibility to avoid, mitigate, and prevent regulatory and human-rights violations, global corruption, and protect their reputations.
With Vcheck Global’s third-party due diligence services, we can help you preserve brand and business integrity by not only identifying risks but also through conveying the significance and long-term implications of those risks.