Challenge
- U.S. Foreign Corrupt Practices Act (FCPA), U.K. Bribery Act, and other anti-bribery/anti-corruption laws and regulations impute liability to company based on a third party acting on a company’s behalf
- Critical need to qualify and evaluate customer’s partners using public and subscription databases
Solution
- Design and implement automated workflow solution to assess risk levels and generate report templates
- Create external-facing partner application form with embedded risk scores
- Right-source support for risk assessment through categorising risk levels, assigning highest risk partners to specialists and lower risk partners to Elevate’s team
- Create and maintain playbook with annual review of partner risk scoring methodology
- Leverage public databases/3rd party due diligence software for PEP screening, background checks, credit reports and more
- Work closely with partners, internal audit, account managers, and senior legal team on possible risks or adverse findings
- Maintain strict SLAs based on risk levels
- Maintain metrics database with monthly, quarterly, and annual reporting
