Securimate Solutions

Securimate’s integrated platform centralizes third-party data, streamlines onboarding and renewal, drives workflow and ensures ongoing compliance through a robust audit trail.

The first step involves collecting the information relating to the third party and its principals. It typically begins with sponsorship of a new third-party relationship by an authorized employee who must complete the business justification process. Organizations can incorporate responses gathered during the business justification process as a component of the subsequent risk-rating process. Once approved, the third party completes a questionnaire and provides declarations and attestations relating to compliance with Anti-Bribery and Anti-Corruption (ABAC) regulations. The information gathered via the questionnaire is used throughout the vetting process and subsequent ongoing monitoring. During the onboarding phase, organizations should rank third parties based on their inherent risk using an objective risk-scoring methodology. This in turn supports a risk-based approach to third-party due diligence by allocating compliance and due diligence resources where they are needed the most.

Securimate includes several valuable features that enable efficient and effective third-party onboarding.

Automated due diligence questionnaire: This proprietary tool allows companies to collect and maintain accurate information relating to a third party and its principals without the need for manual entry of the same data. This automated questionnaire is fully configurable for different populations, is multilingual, and includes the issuance of required legal documents. In the event of suspected violation of ABAC regulations, third-party attestations included in the questionnaire may serve as a defense.

Risk-rating engine: The engine assigns an automated, credible, and objective risk score for each third party. Securimate provides a process that objectively determines the necessary level of due diligence, quickly identifies red flags, and creates an audit trail that captures the entire decision-making process. It is fully configurable to reflect the customer’s risk tolerance.

Global Database Check and 3P Monitor: The Global Database Check (GDC) is the screening of third parties and their principals against more than 800 sanction, embargo, and government watch list databases. GDC functionality, which includes a proprietary Politically Exposed Persons (PEP) database, is integrated and fully automated. Securimate’s 3P Monitor features advance scheduling of ongoing GDC monitoring of all watch list databases and adverse media at customer-defined intervals.

Batch loads and data processing engine: Manually uploading and extracting data that resides in multiple platforms is time consuming, expensive, and subject to error. Securimate provides tools to upload and extract data associated with the entire third-party population.

Access to integrated due diligence: The robust functionality of the Securimate software will likely identify red flag issues that will prompt the need for due diligence at varying levels depending on the potential risks identified. Securimate provides seamless connection to qualified due diligence partners.

Prescribes all of the critical steps to ensure third-party compliance, such as conducting a Global Database Check (GDC) on every third party and associated principal(s) and providing the third party with Anti-Bribery and Anti-Corruption training. It also helps ensure that the third party satisfies additional compliance related requirements, such as meeting specific licensure requirements and the inclusion of appropriate contracting language. This structured approach generates an audit trail and automates most of the required steps within the compliance process. Employing a systematic approach to third-party management results in a credible and defensible program and automation ensuring consistency and cost effectiveness.

Securimate provides several efficient features to streamline the ongoing management of third parties.

Compliance workflow engine: This automated engine allows you to vet, engage, monitor and audit your third parties so you can feel confident your network is built with integrity, security, and accountability.

Renewal process: Securimate streamlines the process by pre-populating its renewal Due Diligence Questionnaire (DDQ) with prior responses that third parties can review and edit. Instead of reviewing the entire DDQ, you can focus on the information that has changed – saving time and resources.

By using a centralized case management system, which includes the documents gathered during the onboarding process, due diligence results, management comments, and an audit trail of red flags and adjudication, organizations generate an auditable record of the entire onboarding process and the steps taken during the ongoing monitoring of a third party. On a dynamic basis, the data stored about each third party reflects the latest relationships, analytics, and intelligence.

Case management: This functionality, which provides a centralized repository for all third-party data, reflects the latest relationships, analytics, and intelligence on your third-party population. Using this functionality, due diligence providers can accept, conduct, and populate the results of investigations within Securimate.

The Securimate auditing functionality captures activities within the ecosystem, including the creation, modification, and deletion of third-party records and cases. It also incorporates the thresholds defined by an organization to approve or deny a third party. In addition, auditing functionality permits organizations to define the business rules associated with Gifts, Entertainment, Travel & Hospitality (GETH) transactions, specifically when approval is required. The auditing process includes powerful analytics to track and report the status of required training and education programs. Securimate auditing capabilities also contain customizable security roles that govern the level of access by region and department and the user’s ability to edit, manipulate, or extract data.

Gifts, Entertainment, Travel, & Hospitality Management (GETH): Building on its already robust third party management platform that enables comprehensive onboarding and monitoring, Securimate’s GETH module enables companies to track both incoming and outgoing gifts, entertainment, travel and hospitality expenses, detect violations of internal policies and procedures, and mitigate their risk by reinforcing policy with an easy-to-use and fully integrated SaaS solution. Companies can be quickly alerted to possible regulatory concerns by monitoring transactions through a full audit trail of current and historical requests, violations, and resolutions. They can also define limits of spending and giving, track attestations of company policy, route gift requests, and establish an approval and escalation process that fits their company’s size and complexity.

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