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Channel partner due diligence

Revenue and reputational protection require an automated platform to perform full-depth analyses on transactions.

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Collect and evaluate information from partner organizations your business relies on, including service providers, vendors, resellers, distributors, and agents required to market your products and services.

Channel partners versus vendors

Suppress exposure to liability

Channel partners can put your business’s revenue and reputation at risk. Unique channel partner risks include exposure to liability under international anti-bribery and corruption laws, including FCPA and the UK Bribery Act.

Data-driven compliance

Be proactive with reputational protection

The vast majority of FCPA violations involve intermediaries acting on behalf of organizations in unlawful dealings with foreign government officials. Comprehensive initial and periodic follow-up due diligence is a necessity.

Due diligence required of channel partner should include:

Completion of a comprehensive questionnaire addressing the business qualifications, financial solvency, and legal and regulatory history of the proposed business partner.
Independent verification of the information provided by the business partner utilizing both internal and external resources.

While the nature and extent of required due diligence may vary by circumstance, key information should be elicited, including:

  1. Organizational details (e.g. director and principal officer information)
  2. Ultimate Beneficial Ownership (“UBO”) structure
  3. Consideration of major risk factors (antitrust, sanctions, money laundering, and anti-bribery and corruption)

GAN Integrity’s third-party management platform allows the compliance function of an organization to

  • Differentiate between these relationships,
  • Prioritize and visualize major and minor risk factors,
  • Solicit questionnaire responses,
  • Establish risk mitigation and remediation plans,
  • Screen business partners continuously against government sanctions and watchlists, and
  • Generate customizable reports in a single convenient place.

GAN Integrity offers a comprehensive third-party management platform that allows for the centralization of channel partner due diligence efforts.

Whereas many compliance solutions providers offer comprehensive screening capabilities, GAN Integrity is a market-leader in providing organizations with integrated solutions that result in greater efficiency and visibility into the compliance function.

The centralization of third-party risk management enables relevant stakeholders throughout an organization to conceptualize risk factors in a systematic and predictable manner.

This results in the elimination of information silos–arguably the biggest obstacle to the implementation of effective compliance controls–and fosters the organizational transparency needed to establish an ethical corporate culture.

Recognizing that enhanced due diligence is often required of channel partners, GAN Integrity also equips compliance officers with the ability to request more detailed reports through its exclusive partnership with Control Risks.

Whether an organization lacks the internal resources to compile such a report or simply wants additional assurance that the channel partner is legitimate and reputable, Control Risks’s VANTAGE Managed Services equips compliance officers with relevant, easy-to-understand, actionable and timely data concerning third-party partners.

Taken as a whole, this bespoke corporate intelligence service equips compliance officers with the full range of information needed to protect an organization from entering into agreements with unscrupulous and/or blacklisted entities and actors.

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Realize a custom third-party risk management solution for your business.

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