Third-Party Due Diligence

Cerico offers an automated third-party screening process with a difference.

Third-party screening and due diligence are now essential components of corporate best practice. Legislation such as the FCPA, UK Bribery Act, and similar anti-corruption rules around the world, has created a complex regulatory landscape. Organisations must be able to demonstrate adequate procedures are in place to validate those they are contracting with.

Cerico's third-party screening application enables organisations to streamline and systematise their approach to capturing basic information about business partners and contractors.  

Better still, it can incorporate an exclusive live feed of information from systems including Dow Jones Risk and Compliance, including sanctions and watch lists. So if circumstances change that materially affect the risk profile of your suppliers or contractors, you'll know automatically. By illustration, an example would be the appointment of a director who is on a sanctions watch list.

Cerico's third-party screening application works by:

  • Issuing a basic automated risk assessment questionnaire for completion by the relevant third party through Cerico's globally accessible online portal
  • Analysing returns and automatically red flagging circumstances where a full third-party due diligence assessment is required
  • Giving Cerico clients access, through an intuitive user dashboard, to real-time data on business partners' and contactors
  • Automatically incorporating, should you desire it, live feeds of information from sources such as Dow Jones screening tools and watch lists. This means red flags will be raised where there is a material change in the compliance position of suppliers and contractors in relation to specific issues