Kroll Launches New Compliance Portal, an Easy-to-Use, Technology Solution to Help Organizations Manage Their Third Party Comp...
October 05 2015 - 12:00AM
Business Wire
Built for compliance professionals, new
portal delivers unprecedented Kroll integration of advice,
technology, data and due diligence
Kroll, the global leader in risk identification and mitigation,
today announced the release of the Kroll Compliance
Portal, specially designed to enable compliance and legal
professionals to manage the regulatory and compliance
challenges associated with third party
relationships, automate compliance activities
and seamlessly gain access to Kroll's time-tested and
globally recognized expertise.
“With the launch of the Kroll Compliance Portal, we are giving
companies an extremely flexible and efficient way to manage the
risks associated with their third parties,” said Lee Kirschbaum,
President of Kroll’s Compliance business. “By combining a
technology solution with access to experienced due diligence
analysts and investigators, we enable organizations to prioritize
their resources and focus on their highest-risk third parties and
general U.S. FCPA, U.K. Bribery Act and other anti-bribery and
corruption compliance obligations,” Kirschbaum said.
Businesses in virtually every industry are challenged today by
the need to manage a burgeoning number of third parties, especially
in an environment of intense regulatory scrutiny. The risk is too
large to ignore — in its most recent Foreign Bribery Report, the
OECD reported that third parties were involved in 75 percent of
enforcement actions.
The Kroll Compliance Portal offers a holistic approach to the
compliance process, bringing together the four major components
needed to help companies comply with the FCPA, UKBA and other
global anti-corruption laws — advice, technology, data and due
diligence.
Acting as an extension of compliance organizations, the Kroll
Compliance Portal provides users with access to modules designed to
bring efficiency and consistency to third party compliance
programs, including:
- Questionnaire: Using the
questionnaire module, compliance professionals can send, track and
score customized questionnaires to internal stakeholders and
external third parties, as well as automatically generate a risk
score based on customized and client-defined risk parameters.
- First View Screening: First
View, a real-time screening solution, enables fast and effective
screening of third parties against millions of risk profiles, all
from a user’s desktop. A related service, First View Resolution,
allows compliance professionals to entrust Kroll’s in-house
research team with the review of suspected false-positive hits.
First View can be used for stand-alone screening or as part of your
compliance workflow within the Kroll Compliance Portal.
- Due Diligence Report: Kroll
Compliance Portal users will have seamless access to Kroll’s suite
of due diligence reports as well as to our experienced research
analysts and investigators.
- Workflow: Automated, pre-set
workflows facilitate consistent and effective vetting and
onboarding by linking together the First View Screening,
Questionnaire, Due Diligence and Approve/Reject modules.
“At the end of the day, companies need to be able to defend
their due diligence approach to regulators and prosecutors, and in
many cases, the court of public opinion. As the DOJ stresses,
performing the same level of due diligence on all third party
agents, irrespective of risk factors, often diverts attention from
the highest-risk third parties,” said Joe Spinelli, senior managing
director with Kroll’s Investigations and Disputes practice.
“Kroll’s Compliance Portal provides organizations with a technology
solution for assessing the risk of third party intermediaries and
conducting the appropriate levels of due diligence based on this
risk, enabling global organizations to comply with mandated
regulations and demonstrate they have taken thoughtful, proactive
steps to abide by the letter and spirit of anti-bribery and
corruption laws,” Spinelli said.
For more information on Kroll Compliance Portal and Kroll’s
comprehensive compliance solutions and offerings, visit
www.kroll.com/compliance.
About Kroll
Kroll is the leading global provider of risk solutions. For more
than 40 years, Kroll has helped clients make confident risk
management decisions about people, assets, operations and security
through a wide range of investigations, cyber security, due
diligence and compliance, physical and operational security and
data and information management services. Headquartered in New York
with more than 50 offices across nearly 30 countries, Kroll has a
multidisciplinary team of over 2,000 employees and serves a global
clientele of law firms, financial institutions, corporations,
non-profit institutions, government agencies and individuals. For
more information visit www.kroll.com.
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KrollNatascha French, +1-424-610-1996