What an Effective EDD Program Looks Like
May 28, 2020
Organizations need to fully understand the implications of engaging any new customer, supplier or other third-party, and not only identify potential risk at the on-boarding stage, but also monitor for change on an ongoing basis. The consequences of failure to comply with regulatory requirements are significant, and include enforcement action, hefty fines and potentially lasting reputational damage.
To manage these risks, Enhanced Due Diligence (EDD) is a must. But what does EDD really look like and how do you conduct it properly?
The presentation will review the steps in an effective EDD program, whether you are a financial institution or a corporation engaging with global suppliers. Topics covered include:
- What is the difference between customer due diligence (CDD) and EDD
- Role of technology-enabled EDD in entity, vendor and third-party risk management
- Why EDD is much more than a sanctions and watch list screen
- How to enhance the EDD process – what to do when and how
- How EDD can be used for FCPA and other anti-bribery, anti-corruption programs