Due Diligence and Ongoing Monitoring

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About Due Diligence and Ongoing Monitoring: Whether you’re vetting a new vendor or following up on an existing vendor, performing due diligence is necessary to determine if a vendor is a good fit for your organization. Ongoing monitoring is a regulatory expectation, an overall sound business practice and can lead to discovering risk that would have otherwise gone unnoticed.

Latest Discussion Posts

  • Here is the contract language I use as a starting point for third party contracting. I pull some of the language in or out based on the nature of the good/service being provided: Due Diligence. X shall have the right at its sole discretion, at no ... More

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  • Hello - Does anyone have contract language that can be shared for supplier contracts regarding due diligence requirements? Much appreciated! Thank you, Mollie More

  • Hi Natalia, GM ongoing monitoring (OGM) frequency is set on inherent risk. It is consistent, unless the service changes. Also Residul Risk is a snap shot of control strength and controls are dependent on people, budgets, technology and a vendors overall ... More

  • We base our ongoing monitoring on two key factors, the vendor type (also known as category and/or tier) = critical, significant conventional and the residual risk = low, moderate, substantial or high. A critical third party provider with high residual ... More

  • Hi, Here are some suggestions I wanted to share with you regarding assessing number of complaints and identifying red flags: Industry/volume dependency – The larger the industry, the larger the vendors or players in the marketplace. The ... More

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