Providing an easy to use, secure mechanism for the processes of ordering, tracking, remediating and reporting on Enhanced Due Diligence.
Expert Research Delivered Within Your Exact Business Framework
Enhanced Due Diligence Portal Highlights:
- Fully customizable portal that allows users to provide risk-based information (geolocation, government interaction, compensation, etc.) that can determine the level of EDD that should be ordered for one to many subjects
- Tracks order progress, statuses, key dates, and classifications to enable automation of future EDD requirements – including when to re-order based on expiration, when to change the level of report, when a new report may not be required, etc.
- Routes notification and review processes to the appropriate people within your organization
- Enables EDD subject status updates (Active, Inactive, Do Not Engage, etc.) that can affect relationships across your enterprise
- Connection to internal systems can automate company-wide business processes that require EDD
Key Benefits of
Enhanced Due Diligence Portal with 319 InSight
Easy to Use
Intuitive User Interface
Identify & Mitigate
Downstream Risk Threats
Compliance business processes are dynamic and ever-changing
Recently, the United States Department of Justice ("DOJ") published a report outlining guidance and best practices for corporate compliance programs. In this report, they share key information about how prosecutors evaluate programs when a possible violation may have occurred.
"Prosecutors should consider the effectiveness of the company’s risk assessment and the manner in which the company's compliance program has been tailored based on that risk assessment and whether its criteria are periodically updated."
"The organization shall periodically assess the risk of criminal conduct and shall take appropriate steps to design, implement, or modify each requirement [of the compliance program] to reduce the risk of criminal conduct."
"Prosecutors may credit the quality and effectiveness of a risk-based compliance program that devotes appropriate attention and resources to high-risk transactions, even if it fails to prevent an infraction in a low-risk area. Prosecutors should therefore consider, as an indicator of risk-tailoring, revisions to corporate compliance programs in light of lessons learned."
It is a must that your third-party due diligence process evolves over time, and consequently it is a must that your system is able to support those changes inline and without interruption of your business. 319 InSight is the only platform with the power and flexibility to handle these requirements.