John Arvanitis on Due Diligence [Podcast]




Compliance Perspectives show

Summary: By Adam Turteltaub<br><br> adam.turteltaub@corporatecompliance.org<br> Third party due diligence has become a staple for conducting business these days.  Whether they are concerned about complying with the FCPA or safeguarding your data, organizations are increasingly taking a longer look at their vendors and suppliers to better understand who is running them and how they operate.<br> In this podcast, John Arvanitis, Associate Managing Director, Compliance at Kroll shares his perspective on due diligence.  Listen in as she shares his insights including:<br> <br> * In determining where to begin there is a need to balance who your third parties are, where are they located and what levels of risks exists<br> * The need to consider who is managing the relationship in the organization and whether they are on top of the risks<br> * Many organizations do not expend sufficient resources on due diligence<br> * Bad actors are getting more sophisticated, but strong due diligence should help unmask them<br> * The need for multi-dimensional screening<br> * The importance of not just collecting supplier responses to due diligence questionnaires but also validating them<br> * The ongoing importance of looking at the jurisdiction to determine the risk<br> * Scrutinizing the third party to determine not just that they signed off on your code of conduct but that they also have policies and procedures to follow it<br> * The importance of having a consistent and structured risk management program<br> <br>