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One Month to a More Effective Compliance Program for 3rd Parties-DOJ Metrics on Third Parties
In a 2015 speech before the SIFMA Compliance and Legal Society New York Regional Seminar, former Assistant Attorney General Leslie Caldwell for the first time, laid out metrics the DOJ would consider in evaluating a corporate compliance program around third parties. Caldwell began with the following question, “Does the institution sensitize third parties like vendors, agents or consultants to the company’s expectation that its partners are also serious about compliance?” This inquiry was brought forward into the DOJ’s 2017 Evaluation and all subsequent updates, including the most recent.
Three key takeaways:
1. It all starts with a Relationship Manager.
2. Have company oversight of all third parties.
3. Audit, monitor, and remediate on an ongoing basis.
Learn more about your ad choices. Visit megaphone.fm/adchoices
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By Thomas Fox
5
11 ratings
In a 2015 speech before the SIFMA Compliance and Legal Society New York Regional Seminar, former Assistant Attorney General Leslie Caldwell for the first time, laid out metrics the DOJ would consider in evaluating a corporate compliance program around third parties. Caldwell began with the following question, “Does the institution sensitize third parties like vendors, agents or consultants to the company’s expectation that its partners are also serious about compliance?” This inquiry was brought forward into the DOJ’s 2017 Evaluation and all subsequent updates, including the most recent.
Three key takeaways:
1. It all starts with a Relationship Manager.
2. Have company oversight of all third parties.
3. Audit, monitor, and remediate on an ongoing basis.
Learn more about your ad choices. Visit megaphone.fm/adchoices