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

Register & Pay by 27 January 2017

Register & Pay by 28 February 2017


Michaela Ahlberg
Chief Ethics & Compliance Officer

Eugene Kornilovich
Internal Audit & Investigation Lead

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

Osama Al Jayousi
Global Group Compliance Manager

What is it about?

Networking Lunch
Registration and Refreshments
Opening Remarks from the Chair
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
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
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
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
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
Networking Break
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?
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
Chair’s Closing Remarks and End of Focus Day