Skip to main content

On-demand webinar coming soon...

Blog

OneTrust partners with Dow Jones Risk & Compliance for data-driven third-party due diligence

Manage regulatory and reputational risk with best-in-class data 

Kelly Maxwell, Content Marketing Specialist, OneTrust
April 18, 2023

Aerial view of two people walking down the street wearing business suits

Modern businesses are increasingly reliant on third-party vendors and suppliers to scale and improve efficiency. But when every third party can potentially expose your company to regulatory and reputational risk, the need for a meticulous vetting process is essential.  

Increased regulatory and consumer scrutiny of businesses further amplifies the reputational risk of unethical, even illegal, third-party practices. “There are benefits to being a trusted company, as consumers, partners, and stakeholders are relying on trust as an indicator of good business,” says Jisha Dymond, Chief Ethics & Compliance Officer and Head of Ethics & Compliance Center of Excellence at OneTrust. “Companies who prioritize working with other trusted businesses are also better positioned to protect their brand.” 

Fortunately, the most impactful tool for a well-designed risk and compliance program is at your fingertips: data. 

Harnessing the potential of your company’s data, however, is next to impossible and may not provide the full picture when it comes to assessing your third-party network when manual workflows and siloed processes prevent the use of real-time monitoring or automated reporting. The key to unlocking greater potential of your data and third-party due diligence program? A third-party due diligence software solution.  

Today, we’re excited to announce the partnership between Dow Jones Risk & Compliance and OneTrust Third-Party Due Diligence. We unpack the importance of risk-based due diligence and how integrating Dow Jones Risk & Compliance data and research capabilities into the OneTrust platform will empower and supercharge data-driven due diligence for effective and holistic third-party management. 

 

The importance of risk-based due diligence 

Third-party due diligence is the process of vetting and continually monitoring third parties for critical red flags across ethics, compliance, legal, ESG, and other categories. In its 2020 Update to the Evaluation of Corporate Compliance Programs, the U.S. Department of Justice (DOJ) established how regulators are looking for well-designed “risk-based due diligence” programs, dedicating a whole section to third-party risk management.  

A “risk-based” approach requires evaluating and managing each third party differently, depending on the nature and level of risk it presents to your company. Since the DOJ’s updated guidance asserts their focus on continuous monitoring throughout the third-party relationship lifecycle, static evaluation is no longer an option. The name of the game is now precise and ongoing monitoring. 

Dymond explains, “Third-party risk goes far beyond security concerns, and regulators and consumers alike are now holding companies accountable for the ethics and compliance violations committed by their business partners – often at the expense of their reputation. “Compliance teams need to be able to trust their partners, and ethics and compliance due diligence is the first step. Partnering with Dow Jones Risk & Compliance allows us to bring our customers the data they need to get peace of mind in the integrity of their third parties.” 

 

Stronger together: The Dow Jones and OneTrust partnership 

The partnership between OneTrust and Dow Jones combines OneTrust’s market-defining trust intelligence and automation capabilities with best-in-class Dow Jones Risk & Compliance data in an end-to-end Third-Party Due Diligence solution. Joining forces to help companies effectively manage third-party reputational risks, along with maintaining your organization’s brand reputation, the OneTrust Third-Party Due Diligence solution, available now on the Ethics and Compliance Cloud, empowers ethics and compliance teams to identify, characterize, and mitigate ethics and compliance risk.  

Dow Jones Risk & Compliance 

Dow Jones Risk & Compliance, a trusted global provider of risk data, integrated technology solutions, and due diligence services for managing regulatory and reputational risk, delivers “reliable, actionable information and applications that are developed specifically for compliance requirements and workflows related to anti-money laundering and counter-terrorism financing, sanctions, anti-bribery and corruption and international trade compliance.” 

Dow Jones Risk & Compliance maintains a comprehensive database of over three million companies, monitoring for sanctions exposure, bribery and corruption, adverse media, modern slavery, financial crime, and more. Their well-maintained data reduces the number of false positives, increases the efficiency and impact of ethics and compliance teams, and empowers them to focus on the most risk-relevant third parties. 

OneTrust Third-Party Due Diligence 

OneTrust Third-Party Due Diligence, an industry-leading third-party due diligence management solution, enables the vetting and monitoring of third parties to ensure compliance and protect brand reputation. The software solution reduces third-party risk with automated workflows, risk calculation and mitigation, monitoring and contextual alerts, and recordkeeping and reporting.  

OneTrust Third-Party Due Diligence is available to customers now on the OneTrust Ethics and Compliance Cloud. The OneTrust Ethics and Compliance Cloud unites ethics program management, speak-up culture assurance, and third-party due diligence to connect people, processes, and technology across ethics, compliance, HR, and legal teams.  

 

Data-driven due diligence for effective third-party risk management 

With the updated guidance from the DOJ emphasizing the importance of ongoing monitoring in the third-party relationship lifecycle, companies must answer the question: “Does the company engage in due diligence of third parties throughout the lifespan of the relationship, or primarily during the onboarding process?”  

To achieve compliance, ongoing activity and conduct monitoring, as well as the supporting relationship management activities required to execute those activities, are now officially top priority.  

By integrating Dow Jones Risk & Compliance's data and research capabilities into the OneTrust platform, customers will be able to access real-time data on potential third-party risks, including regulatory compliance and reputational issues. This data will then be used to generate risk scores and assessments, allowing businesses to make informed decisions about their third-party relationships.  

Built-in automation is also integrated into every component of your third-party due diligence workflow, from risk-based assessments and screenings to conducting inherent risk and triage

Today’s risk landscape demands coordination between companies and their third parties to perform in the global marketplace. Choose third parties that align with your values and partner with trusted entities like OneTrust and Dow Jones Risk & Compliance. 

Centralize third-party profiles, monitor compliance, and automate risk assessments and alerts, with the OneTrust Third-Party Due Diligence solution. Request a free demo today.


You may also like

Webinar

Third-Party Risk

Bill S-211: Will you be ready by May 31?

In this webinar, our experts will discuss the Canadian regulation and others like it globally, while providing actionable insights into building a robust and mature Third-party program.

November 07, 2024

Learn more

Webinar

Third-Party Risk

Live Demo EMEA: Building a robust third-party risk management program with OneTrust

Join to explore how OneTrust's TPRM solution can revolutionize your third-party risk management approach. We will cover best practices for implementing and leveraging the software to minimize risks.

October 10, 2024

Learn more

eBook

Third-Party Risk

Simplifying vendor risk management

Streamline third-party relationships and avoid common mistakes in the process.

October 03, 2024

Learn more

Checklist

Third-Party Risk

Essential checklist for simplifying third-party risk management

Third-party management doesn’t have to be a complicated process for your business.

October 02, 2024

Learn more

Infographic

Third-Party Risk

Navigating risk in financial services with third-party management

Working with third parties introduces privacy and security risks, making compliance and business growth a balancing act.

October 01, 2024

Learn more

Infographic

Third-Party Risk

Manufacturing risk: Managing third parties in the supply chain

Third-party management keeps manufacturing operations running smoothly by verifying vendor and supplier compliance with regulations.

September 30, 2024

Learn more

eBook

Third-Party Risk

The complete guide to third-party management

It’s imperative for security teams to implement a holistic approach to third-party management.

September 27, 2024

Learn more

Webinar

Third-Party Risk

APAC - Third-party risk management and due diligence: What’s the difference and why does it matter?​

Join this APAC webinar to learn the unique competencies of third-party risk and due diligence programs and examine when and how to align them to maximize the effectiveness of each.

September 18, 2024

Learn more

eBook

Third-Party Risk

Deploying third-party management to navigate risk across industries

Download this eBook to explore third-party management across industries and key considerations before bringing this approach organization-wide.

August 06, 2024

Learn more

Infographic

Speak-Up Program Management

Modern slavery: Identifying the signs of forced labor in your supply chain

Looking up and down your organization's supply chain for key indicators is critical to preventing, identifying, and stamping out forced labor.

June 25, 2024

Learn more

Webinar

Third-Party Risk

Third-Party risk management and due diligence: What's the difference and why does it matter?

In this webinar, we’ll discuss the unique competencies of third-party risk and due diligence programs and examine when and how to align them.

May 08, 2024

Learn more

Video

Third-Party Risk

OneTrust third-party management demo video

Watch this demo video to learn how OneTrust third-party management helps organizations create resilient, secure, and scalable third-party ecosystems. 

April 04, 2024

Learn more

Checklist

Third-Party Risk

6 steps to effective third-party risk management

See the path to managing third-party risk effectively with a checklist that outlines the six steps for a sound TPRM program.

March 29, 2024

Learn more

Webinar

Third-Party Risk

A look back at 2023 & third-party management trends for the new year

Join this webinar as we discuss key trends for third-party management and lessons learned over the last year.

January 24, 2024

Learn more

Webinar

Third-Party Due Diligence

Best practices for conducting third-party due diligence for ethics & compliance​

Join this webinar for best practices for conducting third-party due diligence for ethics and compliance.

January 11, 2024

Learn more

Webinar

Ethics Program Management

Ethics Exchange: Third-party applications and ephemeral apps

Learn practical advice on how to navigate the risks of ephemeral apps and employee privacy in BYOD world.

December 05, 2023

Learn more

Webinar

Third-Party Risk

Elevating third-party safety: The art of TPRM and TPDD integration

Join our webinar to learn the primary goals of successful Third-Party Risk and Third-Party Due Diligence programs.

November 21, 2023

Learn more

Webinar

Ethics Program Management

Ethics Exchange: Investigations

Join our live webinar and learn how to conduct comprehensive ethics investigations that are trustworthy and efficient.

September 07, 2023

Learn more

Infographic

Third-Party Risk

What are your third parties not telling you?

Learn how to actively screen and monitor your third parties in the OneTrust Third-Party Risk Exchange.

July 24, 2023

Learn more

Webinar

Third-Party Due Diligence

Driving excellence in third-party risk management: An in-depth look at different due diligence approaches

Join our in-depth webinar and learn how to define third-party due dilligence levels and when to apply them during your vendor management lifecycle.

July 20, 2023

Learn more

Webinar

Third-Party Due Diligence

A shortcut to third party due diligence fundamentals

In this webinar, we examine the scope of third-party due dilligence, best practices, and industry trends driving greater scrutiny on third parties.

July 13, 2023

Learn more

Webinar

Third-Party Due Diligence

Sanctions and export controls: Ensuring compliance

Watch our live expert webinar on understanding global sanctions and export controls and how to reduce your organiztion's risk exposure and ensure compliance.

June 29, 2023

Learn more

Video

Third-Party Risk

Third-party management demo

See how OneTrust's third-party management solution can help scale your third-party lifecycle and evaluate vendors with real-time risk intelligence.

June 27, 2023

Learn more

Webinar

Third-Party Risk

Bridging the gap: How procurement and InfoSec can work together to reduce third-party risks

Join our upcoming webinar as we explore the pivotal ways procurement and InfoSec teams can collaborate to reduce third-party risks.

June 08, 2023

Learn more

Webinar

Third-Party Risk

Unpacking the third-party risk regulatory landscape in the Nordic region and beyond

In this live webinar, our expert panel discuss emerging third-party risk regulatory trends in the Nordic region and show how OneTrust can help your business stay complaint.

May 30, 2023

Learn more

eBook

Third-Party Due Diligence

The global regulations driving third-party due diligence

Download our eBook learn how to start building a robust third-party due dilligence (TPDD) strategy that protects your brand and minimizes risk.

May 30, 2023

Learn more

Webinar

Third-Party Due Diligence

Ethics live Demo: Third Party Due Diligence webinar

Learn how OneTrust's Third-Party Due Dilligence, backed by Dow Jones, can help provide your business the data it needs to find trustworthy third parties and mitigate risk.

May 18, 2023

Learn more

Webinar

Third-Party Due Diligence

Maturing your third-party due diligence program: Process, data & technology

Experts at OneTrust and Dow Jones discuss third-party due diligence, covering industry trends, challenges, and how to streamline the process with technology.

April 27, 2023 1 min read

Learn more

Webinar

Third-Party Risk

Third-Party management secrets: Aligning risk management and due diligence

Watch this webinar to learn how to align your TPRM and TPDD programs to achieve workflow efficiencies and the distinction between the two discipline areas.

April 20, 2023

Learn more

Webinar

Ethics & Compliance

Unpacking the global third-party due diligence regulatory landscape

Learn how a strategic plan for compliance can help companies eliminate human rights and environmental violations and avoid costly consequences.

March 06, 2023

Learn more

Webinar

Ethics & Compliance

Third party due diligence – A practical deep dive

In this session, we'll look into the scope of third-party due diligence and a deep dive into practical implementation aspects and best practices for organizations.

December 13, 2022

Learn more

Webinar

Third-Party Due Diligence

7 best practices for conducting third-party due diligence for ethics & compliance

Watch this webinar and learn the seven best practices for third-party due diligence. 

January 03, 2022

Learn more