This message was posted by a user wishing to remain anonymous
For Adverse Media/Negative News, we use Google - news, lawsuits, FTC, SEC, CFPB, state attorneys general, sometimes Glassdoor, cybersecurity web sites, BBB, industry sites, etc. etc.
LexisNexis can do this, and some vendor management systems offer this service.
The Adverse Media search is a fully integrated part of our due diligence process. Anything we find is evaluated for potential risk, regardless of the stage in the VM Lifecycle.
Original Message:
Sent: 11-15-2023 01:34 PM
From: Anonymous Member
Subject: Reputational Risk
This message was posted by a user wishing to remain anonymous
Hello, how does your firm screen for reputational risk of your vendors? IE a vendor with a poor reputation, or their Sr. Leadership with a poor reputation that could impact your brand if you worked with them...
- How do you find this information?
- What tool do you use?
- Who helped form this screening process in your firm?
- Who owns this process?
- Who makes the decision to exclude the vendor/include the vendor?
- How do you monitor it?
- How do you screen at a RFx level, an established relationship, a supplier on a PIP or one that is transitioning out?