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In part two of our two-part interview, John Arvanitis, Associate Managing Director for Compliance Risk and Diligence, Kroll shares his views of the recent Kroll-Ethisphere Anti-Bribery & Corruption Benchmarking Report, with a focus on global enforcement, third-party risk, as well as the collection and ranking of risk data. The complete report can be found here.
In this nineteen-minute interview, John focuses on:
The risk of anti-bribery and corruption risk due to increased regulatory enforcement and the prospect of new global regulations.
The continued perils associated with detecting third-party risk, particularly where third parties are providing incomplete or inaccurate on-boarding information.
The importance of on-going and interval monitoring.
Is the data being used by multinationals the ‘right’ data?
What should trigger on-going and/or interval monitoring?
How far down into the supply chain should we go in order to assess risk?
The need to refresh data to verify that it’s accurate.
The importance of risk-ranking, both in theory and in practice.
Using compliance programs as a pro-active tool to mitigate and assess risk.