Managing Third Party Corruption Risk: A View from the OCEG Illustrated Series

Global organizations often have thousands of third party relationships that present corruption risks. The need for a well designed and effectively implemented third party anti-corruption program has never been greater, and yet, too often, the focus is only on the on-boarding stage and ongoing management and oversight is weak.

Managing third parties for the risk of bribery and other corruption requires a coordinated, technology supported approach to risk assessment and analysis, appropriate training, controls and ongoing monitoring, and periodic re-evaluation. Developing a consistent approach to risk scoring and establishing a ‘book of record’ for each third party ensures a consistent understanding of relevant information and a well documented audit trail.

In this webcast, our expert panel addresses these issues and addresses the following learning objectives:

• Understanding the importance of vetting all third parties to determine who needs anti-corruption due diligence review
• Determining necessary steps in risk assessment and establishment of controls
• Defining key “loopholes” often missed in third party anti-corruption management

Speakers:

• Jay Martin, Chief Compliance Officer, Baker Hughes
• Marie Patterson, VP, Marketing, Hiperos
• Sonal Sinha, Associate VP, Industry Solutions, MetricStream
• Carole Switzer, OCEG President