For a time we had a similar need of our contingent labor agencies where we utilized GoodHire (Background Check For Employment | GoodHire). As I recall, there are different package options to choose from which made it easy to determine which level of verification was appropriate based on our corporate policies and desired risk assurances. Our process was that if the 3rd party had no pre-work authorization procedures and we determined it was required, we deferred them to be cleared via GoodHire.
Original Message:
Sent: 05-02-2024 12:32 PM
From: Cheryl Turner
Subject: Dun and Bradstreet report. Do you use it?
I would love it if anyone has resources for background checks. We are vetting a new janitorial vendor and want to see about their company principals and whether they do background checks on their employees.
Thanks
Cheryl Turner
Original Message:
Sent: 5/2/2024 11:29:00 AM
From: Vanessa Rios
Subject: RE: Dun and Bradstreet report. Do you use it?
HI Anthony,
Thank you for your response. I was hoping to get websites, vendors, or any other vetted resources for the following part of Tony's comment: "Public record resources for litigation, UCC filings and, where applicable, operating principal backgrounds and current public record reviews are much more effective." We do have a process to conduct a similar check, but we are looking at being more extensive with our research for certain vendors.
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Vanessa Rios
Compliance Support Specialist
State Employees Credit Union
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Original Message:
Sent: 05-01-2024 09:07 PM
From: Anthony Schweiger
Subject: Dun and Bradstreet report. Do you use it?
Vanessa
It's our experience that TPRM processes should be designed around the risk profile of each vendor. We first evaluate the potential risks associated with a vendor's operations as well as the potential impact on the company's operations. Then, depending on the results of that assessment we make certain the vendor management processes appropriately control and monitor the vendor's performance and the continuing risk profile. While there are some common elements across all risk profiles, TPVM doesn't work well with a "one size fits all" approach.
Most organizations typically use ratings such as high, moderate, or low to assess inherent risk, i.e., the risk of the product or service itself and cannot be separated from the vendor. Criticality is not a risk rating, but it is a specific categorization of vendors. All vendors fall into either the critical or non-critical category. A vendor is deemed critical if its failure to deliver the product or service could materially impact the organization and/or its customers. Can the organization continue to support mission critical functions if the product or service is unavailable or not delivered pursuant to the organization's standards?
We like the approach of designing the core TPVM process around vendors with critical risk and then reducing the qualification and ongoing management processes as the risk profile warrants. If you need support to create a risk management framework geared to your individual needs, please don't hesitate to reach out.
Tony
Anthony W. Schweiger, MCMB
Managing Principal/CEO
Original Message:
Sent: 5/1/2024 6:45:00 PM
From: Vanessa Rios
Subject: RE: Dun and Bradstreet report. Do you use it?
Hi Tony,
We are currently building out our TPRM processes, and I was wondering if you could provide any resources you recommend for obtaining this information?
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Vanessa Rios
Compliance Support Specialist
State Employees Credit Union
Original Message:
Sent: 04-30-2024 07:36 PM
From: Brandon Carey
Subject: Dun and Bradstreet report. Do you use it?
Thanks for that insight. Much appreciated
Original Message:
Sent: 04-23-2024 08:32 PM
From: Anthony Schweiger
Subject: Dun and Bradstreet report. Do you use it?
Suggest that D&B reports have questionable value for TPVM. The information has substantial timing issues, particularly since it relies on creditor provided information. Public record resources for litigation, UCC filings and, where applicable, operating principal backgrounds and current public record reviews are much more effective.
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Tony Schweiger
Managing Principal
The Tomorrow Group, LLC