In order to participate in the Focus Day contact customer service at +44 20 7878 6888

Focus Day on the A–Z of Building an Effective Third Party Due Diligence Programme

Feb 27, 2017 8:00am – 5:15pm

Register & Pay by 16 December 2016
€1140

Register & Pay by 27 January 2017
€1227

Register & Pay by 28 February 2017
€1320

Speakers

Michaela Ahlberg
Chief Ethics & Compliance Officer
Teliasonera

Eugene Kornilovich
Internal Audit & Investigation Lead
Microsoft

Marie Bolton-Jones
Group Director of Financial Crime
Willis Towers Watson

Osama Al Jayousi
Global Group Compliance Manager
Carillion

What is it about?

1:15
Networking Lunch
8:00
Registration and Refreshments
8:30
Opening Remarks from the Chair
9:00
Vetting a New Private Distributor, Agent, or Supplier: How to Conduct the Right Level of Due Diligence Under Limited Data Access, and How Much is Enough?

  • How to do a risk assessment by using a risk-based model to determine the level of on-going monitoring
  • Finding a systematic approach to determine the level of due diligence required based on the level of risk
  • How to carry out effective due diligence and just fill in a Due Diligence Questionnaire (DDQ)
  • How to select a third party due diligence provider to help you conduct local due diligence
  • How far down the chain should you go when conducting sub-distributor’s due diligence and should you communicate with sub-distributors when conducting due diligence
  • How to design an effective questionnaire for new third parties. What questions should be included?
  • How to comply with state secret and data protection regulations
  • Using a risk-based model to determine the level of on-going monitoring
10:30
How to Implement a Risk Based Approach When On Boarding New Third Parties

  • How should the business case be justified/documented?
  • Strategies to use when on boarding different volumes
    and types of third parties: getting approval and training
  • Evaluating connections, relationships and red flags, etc
  • How to compose adequate contracts to manage third party compliance in the future
11:30
Closely Monitoring Your Third Party Risks: When Third Party Ownership or Contractual Scope Change

  • How to customise internal controls for effective third-party oversight
  • Evaluating and renewing contractual terms and conditions
  • Ensuring you have the appropriate ongoing monitoring tools in place
  • Assessing other innovative high-tech monitoring tools
  • Monitoring invoices and payments and how to spot issues on a transaction basis
  • Creating helplines and anonymous channels for reporting of third party issues and encouraging whistle-blowers
  • What areas do companies need to pay special attention to in the due diligence process when ownership and scope of the work changes
  • Ensuring third party contacts understand your compliance objectives
12:30
Project Bidding and Procurement: How to Navigate Bribery Risks for Bidding Agents and Business Representatives Amid a Highly Competitive Landscape

  • Introducing current bid and procurement regulation, categorising different risks in bids: Open, semi-open, or invitational
  • Identifying risk differences in Government and State Owned Enterprises (SOE) bids
  • How to control your agent to not pay a bribe, win a deal in an unclear price bidding situation and/or in an unfamiliar location
  • How to negotiate the price, terms and scope without a bribe after you get the bid
  • What to do if you find corruption activities in the bidding process
2:30
How to Deal with Distributor Margins, Discounts and Unclear Payment Risks: Auditing and Investigating a Third Party with a Weak Accounting System

  • What is the process and frequency to audit whether the travel agency, consultant, distributor complies with the programme?
  • How to collect valid evidence during a third party audit
  • What level of detail should you refer to in an invoice or any supporting documentation?
  • How to track individual suppliers for each transaction
  • How to detect high risk transactions and determine thresholds for review and the best use of resources
  • How to regulate the accounting: categorising payments and discounts forhe books and records to meet SEC and the AIC strict accounting rules
3:15
Networking Break
3:30
Effective Strategies for Working with State- Owned Enterprises or Government-Mandated Third Party

  • Implementing appropriate process
  • How to work with mandated parties
  • How to run full background checks: understanding the relationship the assigned third party has with the government
  • What other additional procedures should be performed on state owned enterprises?
  • Dealing with third party consultant providers who are government officials or are related to a government officials
  • What factors should you be looking into to assess consultants, brokers, suppliers?
4:45
When you Need to Terminate a High Risk Third Party Including Termination Considerations

  • Weighing the pros and cons of terminating the relationship with a third party
  • Are alternative providers available?
  • Handling difficult situations such as when terminating payment issues, breach of contract, blocking of transactions, money laundering reporting
  • Best practices for establishing contractual safeguards
  • What evidence and documentation you need on file when the termination becomes a dispute
  • What to do if a third party refuses to answer your questions or provide adequate information
5:15
Chair’s Closing Remarks and End of Focus Day