Pierre Memheld, Managing Director of Global Risk Profile France, in collaboration with Paul Labic, teacher and Doctoral student at the University of Strasbourg, discuss the importance of centralizing and digitizing compliance workflows in Compliance Magazine (issue nº 8, 2020).
In the article, Memheld and Labic stress the importance of developing not only internal compliance frameworks, but also global risk mapping to incorporate third party relationships that may span across the globe.
This becomes particularly relevant when doing business in “at risk” countries. Incorporating your business in new markets means accepting the duty of due diligence: do not expose your business to the unknown by effectively mapping the risks. The article explores the cases of China and India from a risk management perspective.
The authors implemented their over ten years of experience in third party investigations to lay out streamlining compliance processes, from reviewing existing third parties and integrating new partners to having a global analysis and understanding of risk exposure.
The full article from Compliance Magazine (issue nº 8, 2020) is provided below: