OneTrust, the market-defining leader for trust intelligence, has partnered with Dow Jones Risk & Compliance for its end-to-end Third-Party Due Diligence solution that helps companies more effectively manage legal, financial, and reputational risks. The partnership also supports Dow Jones’s mission to provide the world’s most trusted journalism, data, and analysis to help people make decisions.
With growing regulatory and consumer scrutiny on the integrity of businesses, OneTrust Third-Party Due Diligence combines OneTrust’s industry-recognized risk management and automation capabilities with Dow Jones Risk & Compliance data, so ethics and compliance teams can identify, characterize, and mitigate ethics and compliance risk.
“There are benefits to being a trusted company, as consumers, partners, and stakeholders are relying on trust as an indicator of good business,” said Jisha Dymond, Chief Ethics and Compliance Officer at OneTrust. “Companies who prioritize working with other trusted businesses are also better positioned to protect their brand.”
Lack of visibility into risk profiles of third parties, inability to manage regulatory compliance at scale, and ongoing supply chain disruption can make it difficult for ethics and compliance teams to make informed decisions about who to do business with. OneTrust Third-Party Due Diligence brings together automated workflows, risk calculation and mitigation, monitoring and reporting, and the best-in-class Dow Jones Risk & Compliance data to help companies monitor their third parties and conduct effective, ongoing due diligence.
Dow Jones Risk & Compliance maintains an extensive database of over three million companies and individuals, monitoring for sanctions exposure, bribery and corruption, adverse media, modern slavery and other ESG risks, financial crime, export controls, and more. The high-quality and curated data reduces the number of false positives, saving ethics and compliance teams critical time and allowing them to focus on the most risk-relevant third parties.
“With growing scrutiny from regulators, customers, and investors, it is more important than ever to have end-to-end visibility into the operations of partners and suppliers," said Joel Lange, General Manager of Dow Jones Risk & Compliance. "Integrating our trusted data into OneTrust’s industry-leading technology will enable OneTrust’s clients to streamline their risk management workflow and help eradicate illegal and unethical business practices from corporate supply chains.”
Dymond added, “Third-party risk goes far beyond security concerns, and regulators and consumers alike are now holding companies accountable for the ethics and compliance violations committed by their business partners – often at the expense of their reputation. Compliance teams need to be able to trust their partners, and ethics and compliance due diligence is the first step. Partnering with Dow Jones Risk & Compliance allows us to bring our customers the data they need to get peace of mind in the integrity of their third parties.”
OneTrust Third Party Due Diligence is available to customers on the OneTrust Ethics and Compliance Cloud. The OneTrust Ethics and Compliance Cloud brings together ethics program management, speak-up culture assurance, and third-party due diligence to unify people, processes, and technology across ethics, compliance, HR, and legal teams. As companies face challenges like siloed compliance management, low risk visibility, high case volumes, and disengaged employees, OneTrust helps them foster safe and ethical cultures where employees feel empowered to speak up, share their perspectives, and raise concerns without fear of retaliation.
OneTrust is the trust intelligence cloud platform organizations use to transform trust from an abstract concept into a measurable competitive advantage. Organizations globally use OneTrust to enable the responsible use of data while protecting the privacy rights of individuals, implement and report on their cyber security program, make their social impact goals a reality, and create a speak up culture of trust. Over 14,000 customers use OneTrust’s technology, including half of the Global 2,000. OneTrust currently ranks #24 on the Forbes Cloud 100 list of top private cloud companies in the world and employs over 2,000 people in regions across North America, South America, Asia, Europe, and Australia.