Due Diligence and Ongoing Monitoring

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?

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.