Due Diligence and Ongoing Monitoring

Hello Community,

We are trying to setup a governance framework on our Centers of Excellence that includes a periodic on-site due diligence.

Does any have or can guide me to a periodic on-site Due diligence checklist for Business Process Outsourcing that covers multiple processes.

Thank you in advance!

Hi

Vendor on-site visits can be a useful tool as part of initial due diligence or ongoing monitoring. Each on-site visit will be unique depending on the product or service provided and the controls your organization needs to verify.

From a checklist perspective, starting with these basic categories is a good starting point. For each visit, identify the controls, risk management practices, documents, etc., that you need to review for that specific vendor

q  Meet with Management Teams and Employees

q  Review expectations for vendor

q  Observable controls: Identify the controls you can only verify through in-person observation. Examples include               

o   Security cameras

o   Restricted area access management

o   Employee safety practices and equipment

o   Health and safety systems

o   Location and security of server rooms

o   Clean desk, locked computer

o   Packing and shipping processes

o   Compliance with safety codes

o   Treatment, storage, and end-of-life management for hazardous materials

o   ADA Accessibility

q  Data or Documents that can only be viewed in person/on site

o   Safety certificates or calibration stickers on equipment

o   Sensitive or confidential plans

o   Financials

q  General Observations

o   Location and security of the facility

o   Cleanliness and organization of employee workspaces and production areas

o   Condition and cleanliness of common areas, including meeting rooms,  restrooms, and employee break areas

o   Condition of furniture, equipment, and tools used by employees

o   Safety and condition of parking areas

With these basic categories, your team should be able to build out comprehensive and vendor-specific vendor on-site review checklists. I would love to hear what other members would add to this list.

Thanks,

Hilary