Convercent by OneTrust Announces Third-Party Risk Management Solution for Ethics & Compliance to Automate Third-Party Screening, Due Diligence, and Ongoing Monitoring

Empowering Ethics & Compliance Teams to Automate Third-Party Risk Management from Onboarding and Screening, to Due Diligence, Risk Assessment and Mitigation, Monitoring, and Offboarding

News provided by

OneTrust

Jun 17, 2021, 08:00 ET

ATLANTA, June 17, 2021 /PRNewswire/ -- Convercent by OneTrust today announced the availability of Third-Party Risk Management for Ethics and Compliance professionals. The new solution enables ethics and compliance teams to fully understand and manage third-party risk through automated screening, due diligence, risk management, and ongoing monitoring of key risks that arise from the scope, activities, location, and persons present in that third party relationship, to name a few. Using the power from leading TPRM solution OneTrust Vendorpedia, Third-Party Risk Management for Ethics and Compliance leverages the collective power of Convercent by OneTrust and the OneTrust privacy, security, and data governance platform.

Register for the webinar: Third-Party Risk Management and Due Diligence for Ethics and Compliance on Tuesday, June 29 at 9 am MDT | 11 am EDT | 4 pm BST

Increased reliance on third parties, growing ethical concerns, and new regulations create complex requirements for ethics and compliance professionals. Some of those obligations include understanding the potential risk present in your third parties. Accordingly, ethics and compliance professionals must conduct third-party screening, due diligence, risk management and mitigation, and ongoing monitoring throughout the relationship with third parties.

Third-Party Risk Management for Ethics and Compliance helps address these challenges with integration and automation, ultimately reducing the ethical and compliance risks associated with those third parties. Rich integrations with screening and compliance monitoring providers adds even more visibility into the risk in third-party relationships.

The solution enables automation of the end-to-end third-party due diligence process through key capabilities including:

Screening: Run compliance checks for your third parties against sanctions lists, adverse media and other sources, such as PEP lists, Anti-Slavery, Bribery and Corruption, and more.
Inherent Risk-Based Tiering: Automatically calculate inherent risk scores to prioritize further diligence and assessment to the third parties that present the most risk to your organization.
Risk Assessment: Leverage dozens of out-of-the-box ethics & compliance third-party assessment templates and automated risk assessment workflows with intelligent risk flagging.
Risk Management: Reduce risk with automated treatment workflows, leveraging out-of-the-box mitigation recommendations and control frameworks as well as allow for cross-departmental collaboration and management.
Compliance Reporting: Understand the state of your third-party risk management program with interactive dashboards, executive-ready PDF reports, and recordkeeping to demonstrate compliance.
Ongoing Monitoring: Monitor your third parties over time, running routine adverse media and other compliance checks that trigger pre-determined actions as additional risks.

Register for the webinar: Third-Party Risk Management and Due Diligence for Ethics and Compliance on Tuesday, June 29 at 9 am MDT | 11 am EDT | 4 pm BST

"Ethics and compliance teams evaluate numerous types of third parties including suppliers, agents, venture partners, investors, customers, and many others. As a result of this outsourcing, third parties introduce more compliance risk than ever before. The Third-Party Risk Management for Ethics and Compliance solution will help automate screening, due diligence, risk management, and ongoing monitoring, providing greater visibility into third parties and the risks they pose from an ethics and compliance standpoint," said Asha Palmer, Chief Ethics and Compliance Officer at Convercent by OneTrust.

Patrick Quinlan, Chief Executive Officer at Convercent by OneTrust added, "This solution combines the ethics and compliance expertise of the Convercent by OneTrust team with the world-class OneTrust privacy, security, and governance platform, furthering our shared vision to help organizations around the world be more trusted."

To learn more about Convercent by OneTrust's Third-Party Risk Management for Ethics and Compliance, register for the webinar. For information or to request a demo, visit Convercent.com.

Availability:

Convercent by OneTrust Third-Party Risk Management for Ethics and Compliance is available today. To purchase, reach out to your Convercent by OneTrust account executive or request a demo.

Resources:

OneTrust and Convercent by OneTrust are registered trademarks or trademarks of OneTrust LLC or its subsidiaries in the United States and other jurisdictions.

About Convercent by OneTrust
Convercent by OneTrust is the leading global provider of ethics and compliance software, empowering the world's largest and most admired companies to understand organizational risk, protect their brand, and engage employees with their ethics and compliance program. The Convercent by OneTrust Ethics Cloud Platform, which includes the Ethics and Compliance Portal; Helpline and Case Manager; Policy and Learning; and Disclosures and Conflict of Interest, leverages a global dataset to deliver business leaders the insights required to make proactive, informed decisions about their company's ethical health through real-time dashboards and analytics.

Convercent by OneTrust is a part of the #1 most widely used privacy, security and governance platform used by more than 10,000 customers and powered by 150 awarded patents. OneTrust is powered by the OneTrust Athena™ AI and robotic automation engine, and integrates seamlessly with the full OneTrust platform, including OneTrust Privacy Management Software, OneTrust DataDiscovery™, OneTrust DataGovernance™, OneTrust GRC, OneTrust Ethics, OneTrust PreferenceChoice™, OneTrust ESG, and OneTrust DataGuidance™.

Media Contact
Katie Thompson
704-776-8127
[email protected]

SOURCE OneTrust