To fully understand and manage risk, organizations must automate third-party risk management (TPRM) from onboarding and screening to due diligence, risk assessment and mitigation, monitoring, and offboarding. The new Convercent by OneTrust Third-Party Risk Management Solution for Ethics and Compliance professionals provides a way to identify third-party risk that arises from the scope, activities, location, and persons present in that third-party relationship. Using the power from leading TPRM solution, OneTrust Vendorpedia, Third-Party Risk Management for Ethics and Compliance leverages the collective power of Convercent by OneTrust and the OneTrust privacy, security, and data governance platform.
Register for the webinar: Third-Party Risk Management and Due Diligence for Ethics and Compliance on Tuesday, June 29 at 9 am MDT | 11 am EDT | 4 pm BST
The solution enables automation of the end-to-end third-party due diligence process through key capabilities including:
- Screening: Run compliance checks for your third parties against sanctions lists, adverse media and other sources, such as PEP lists, Anti-Slavery, Bribery and Corruption, and more.
- Inherent Risk-Based Tiering: Automatically calculate inherent risk scores to prioritize further diligence and assessment to the third parties that present the most risk to your organization.
- Risk Assessment: Leverage dozens of out-of-the-box ethics & compliance third-party assessment templates and automated risk assessment workflows with intelligent risk flagging.
- Risk Management: Reduce risk with automated treatment workflows, leveraging out-of-the-box mitigation recommendations and control frameworks as well as allow for cross-departmental collaboration and management.
- Compliance Reporting: Understand the state of your third-party risk management program with interactive dashboards, executive-ready PDF reports, and record-keeping to demonstrate compliance.
- Ongoing Monitoring: Monitor your third parties over time, running routine adverse media and other compliance checks that trigger pre-determined actions as additional risks.
Additional third-party risk management resources:
- OneTrust News: OneTrust Acquires Ethics and Compliance Leader Convercent
- Webinar: Third-Party Risk Management and Due Diligence for Ethics and Compliance
- Demo: Third-Party Risk Management and Due Diligence for Ethics and Compliance
- Blog: What is Vendor Management?