Ashland Partners’ Vendor Due Diligence services are designed to help CCOs meet regulatory and institutional client expectations. Ashland Partners’ Vendor Due Diligence services can be tailored to any firm.
Vendor Due Diligence
The SEC, FINRA, and other regulatory bodies frequently communicate their growing concern regarding third-party risks. Documentation of risk assessments and relevant due diligence of your third-party vendors is just as important as your own internal control procedures. Increasing reliance on third-party expertise in the industry means both risk exposure and regulatory oversight will continue to grow.
A good due diligence program starts with a complete inventory of vendors, and an assessment of the risks they pose to your data. However, once the risk is determined, how do you effectively mitigate those risks? What questions need to be asked? What supporting documentation should be obtained? How do you force the vendor to comply with your regulatory needs? Ashland Partners helps firms address these questions in a best practice environment, and still at a lower overall cost than a firm’s internal due diligence efforts.
Efficient Service – Our automated platform expedites vendor response times and creates useful reports to minimize the CCO’s time commitment
Quality Due Diligence – We have customized industry-vetted questionnaires that the vendor will find relevant to the service they are providing and pertinent to your needs as the client
Documented Processes – Our reports document the due diligence performed as well as potential remedies to mitigate residual risk posed by the vendor
For further information or to discuss how we can help you, please contact us.