third-party risk management platform - building a better...
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EY_ID Third-party risk management platform
The cost of working with a bad third party has never been higher. Regulators worldwide have intensified their focus on the key role that outside actors can play in cases of corruption, money laundering and sanctions violations. As a result, companies now find themselves accountable not only for the ethical behavior of their own employees, but that of their vendors, agents and partners as well.
Responding to the need to monitor this risk on a global scale is a serious operational challenge. However, the use of technology to help you manage your third party risk can make meeting this responsibility less daunting.
Americas contacts
EY | Assurance | Tax | Transactions | Advisory
John C. Auerbach New York +1 212 773 3181 [email protected]
Frederico Gebauer Sao Paulo +55 11 2573 3000 [email protected]
Kevin J. O’Connor New York +1 212 773 6647 [email protected]
EY_ID is a web-based, globally accessible platform provides companies with the opportunity to collect information about their third-party population, segment third parties by risk level, conduct and document multiple levels of diligence, collect certifications from third parties, and incorporate a streamlined approval process. It is designed to improve standardization, transparency and accountability throughout the third-party life cycle.
EY_ID also offers advanced dashboards with visual data analytics and enhanced search functionality.
EY_ID offers a highly customizable platform that can be configured to meet your specific program design, including features such as:
ffEnd-to-end third-party life cycle management in a client-branded, secure websiteffAutomated risk-scoring engine and self-directed risk assessment tool to calculate third-party risk based on the clients risk tolerance and priorities.ffHighly customizable workflow manager with client-driven approval hierarchyffSecure, archived repository for third-party records, red-flag analysis and approvals
Addressing third-party risk in today’s environment requires a systematic approach, and EY_ID is there to provide the tools.
About EYEY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
About EY’s Fraud Investigation & Dispute ServicesDealing with complex issues of fraud, regulatory compliance and business disputes can detract from efforts to succeed. Better management of fraud risk and compli-ance exposure is a critical business priority – no matter what the industry sector is. With our more than 3,000 fraud investigation and dispute professionals around the world, we assemble the right multidisciplinary and culturally aligned team to work with you and your legal advisors. We work to give you the benefit of our broad sector experience, our deep subject-matter knowledge and the latest insights from our work worldwide.
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This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.
EY_ID is a technology tool created by EY to help clients efficiently and effectively address the risks of dealing with third party business relationships on a global scale