Pre-Conference Workshop B – SUPPLY CHAIN DUE DILIGENCE
A Deep Dive into Successful, Cost-Effective Approaches to Vetting the Upper and Lower Tiers of Your Supply Chain
Global Head of Compliance Monitoring
Associate Director, Ethics & Legal Compliance
Chief Client Officer
STEELE Compliance Solutions, Inc.
Peter S. Spivack
Hogan Lovells US LLP
At this practical, industry-driven working group, expert speakers will discuss how companies are determining how far down the supply chain to explore, and developing a tiered due diligence approach based on the appropriate risk level and type of third party in question. The session will discuss how to re-evaluate your risk ranking approach and minimize the costs of a robust program.
With evolving risk factors and compliance obligations, don’t miss this worthwhile opportunity to upgrade your best practices. Ample time will be left for Q & A, so please bring your questions!
- How far you need to go in vetting your supply chain: 1st, 2nd, 3rd, 4th and lower tier supply chain members
- Developing a model that stratifies your risk based on third parties-and how to perform due diligence accordingly
- What you need in a questionnaire for third parties
- Unique challenges associated with critical types of third parties for your global business
- When and how much due diligence to perform for an ongoing, existing third party relationship
- Understanding the local business environment, customs and practices
- How to incorporate effective front-end vetting and screening protocols based on the type of relationship and interests represented by the third party
- What to do with information uncovered during the vetting process: How to evaluate red flags
- Making the decision regarding which parties to use/not use