John Arvanitis on Due Diligence [Podcast]

By Adam Turteltaub

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.

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:

  • 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
  • The need to consider who is managing the relationship in the organization and whether they are on top of the risks
  • Many organizations do not expend sufficient resources on due diligence
  • Bad actors are getting more sophisticated, but strong due diligence should help unmask them
  • The need for multi-dimensional screening
  • The importance of not just collecting supplier responses to due diligence questionnaires but also validating them
  • The ongoing importance of looking at the jurisdiction to determine the risk
  • 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
  • The importance of having a consistent and structured risk management program