Effective third-party risk management (TPRM) encompasses a unified approach to onboarding and risk monitoring across a counterparty network. Get greater visibility into the organizations in your supply chain, so you can understand threats to your business and protect its reputation.
Make decisions with confidence about which suppliers you work with. Moody’s can help unify and automate your approach to supplier due diligence. Bring together people, processes, and technology to create greater organizational transparency and visibility of risk across each tier of your business’ network.
Your organization has an imperative to comply with supply chain risk and due diligence regulations; to prevent financial, environmental and social crimes; and to protect itself from association with illegal or unethical practices.
Third-party risk management continues to grow in importance, but it’s also highly complex. Supply chain risk is geographically disbursed, and your vendor network may include organizations of different types and sizes, running into many tiers.
Moody’s solutions are tailored to help your business understand third-party risk.
Create and maintain supplier risk profiles for key areas of compliance
Verify and enhance the data given to you by third-parties to complete due diligence
Access adverse media data about third parties to understand existing and new risks
Develop a supplier due diligence solution that’s flexible and tailored to your business.
Digitally transform your risk policies for third-party onboarding and risk monitoring processes. Unify due diligence with a comprehensive workflow of compliance checks for AML, sanctions, fraud, corruption, and more.
Integrate Moody’s award-winning data sets to verify third parties, large or small, anywhere in the world. And make risk-based decisions with greater corporate transparency.
Access powerful comparable data on private companies with information on +489 million entities worldwide
Curate risk-relevant data into profiles for individuals or entities, from a database with PEPs, sanctions, adverse media news
A model that helps unify people, processes, and technology could create greater visibility over where risks lie.
Here are five factors to think about when creating the right model for supplier due diligence and risk management across your vendor network.
Moody’s recently carried out primary research with a number of global corporations to delve into their processes and priorities for third-party risk management.
We’re pleased to share the findings of our research with you. Download your copy of – Third-party risk management: understanding risks to safeguard reputations.
Increasingly complex regulations, financial penalties, and media scrutiny are bringing third-party risk management and supplier due diligence into sharp focus and moving it up on company agendas.
Exploring the questions, priorities, and challenges of third-party risk management, Moody’s commissioned original research into this topic and share the findings of this work in this on-demand webinar.
Paul Nola, of Context Consulting, who conducted the research on behalf of Moody’s, gave a full review of the input from global brands who represent industries from fashion to food to finance.
Priorities driving investment in third-party risk management
Reasons why companies have limited visibility of supply chain risks
How to gain visibility into the complex tiers of a counterparty network
How third-party risk management can deliver competitive advantage
Former international sales executive, Richard Bistrong, served time in a federal prison camp after being targeted by a US Department of Justice investigation of a UN supply contract. He now dedicates his life to educating companies on the risks of corruption.
In this episode of KYC Decoded, Richard and Bill Hauserman, Moody’s KYC head of the Financial Crime Compliance Practice for the Americas, talk about:
Amid sanctions concerns, ESG commitments, and the potential for reputational harm, third-party risk management is a priority. But, if done right, TPRM can also be a competitive advantage.
In this episode of KYC Decoded, Vincent Scales, Director of Third-party Risk Management at Verizon, and Enrico Aresu, Moody’s KYC Compliance and Financial Crime Practice Lead for the DACH region and central eastern Europe, discuss:
Source: Moody's
Moody’s has resources on supplier risk management to help you unify your approach to the problem and gain visibility over risk in your supply chain to protect your business and its reputation. Read on and get in touch if you have any questions.
To assess and prioritize supply chain risks, we recommend creating a risk map. A risk map allows you to decide on your risk tolerance level and focus mitigation efforts.
Your supply chain can provide early warnings of a suppliers’ financial viability, as well as showing the other risks partners could expose. Read more in this blog.
Your supply chain has many risks. How do you prioritize them, and how can you tell if your risk mitigation strategy is working? Check out this article.
Get in touch to discuss your approach to supplier due diligence – we would love to talk to you.
