Delegation monitoring

Do you want to be on the safe side when delegating functions to third parties? With a robust process supported by state-of-the-art technology and not reliant on the capabilities and efficiency of individual employees? And all the data collected properly documented and easy to report to different stakeholders?

You might be wondering if it’s even possible to manage and oversee such a complex challenge?

The good news: it is! Below we show you how to easily manage outsourcing risks by monitoring all delegates / delegated functions step-by-step!

Our solution: Step-by-step

01

Select potential delegates

Step 1

02

Initial due diligence

Step 2

03

Approval of delegate

Step 3

04

Ongoing monitoring

Step 4

05

Reporting

Step 5

Step 1

Select potential delegates

Pick your potential delegates and gather all required information. Do this within due time, maintaining clear oversight of all outstanding tasks.

 

Leverage on previously provided documents.

How:

Document management

Document management

Overview outstanding actions

Overview outstanding actions

Collaborative data provision

Collaborative data provision

Step 2

Initial due diligence

During gathering, you can focus on the quality of risk assessment. From now on this is not a hassle anymore, with the automatically created guidelines and consistent quality of due diligence.

 

Quickly assess whether third parties are qualified and capable of undertaking the delegated function in question.

How:

Initial due dilligence

Initial due dilligence

Delegate screening

Delegate screening

Step 3

Approval of delegate

Once you’ve finished the initial due diligence, it’s easy to make the right decision.

 

 

Make sure you work with the right partners, reducing operational risks and ensuring compliance with regulation.

How:

Consistent check of risk assessment

Consistent check of risk assessment

Overview outstanding actions

Overview outstanding actions

Workflow

Workflow

Step 4

Ongoing monitoring

Now that you’ve accepted the delegate, you want to make sure their information remains accurate and up-to-date according to a risk-based approach.

 

 

As a part of ongoing review, preconditions are put in place which allow timely detection and follow-up on potential issues with delegates. If an issue arises, you will be notified. And otherwise you can feel comfortable due to the robustness of the process.

 

 

Easily connect related information in a single application, leveraging on previously provided information and benefiting from overall risk scorings for each delegate.

How:

Automated trigger with rising issues

Automated trigger with rising issues

Timely follow up

Timely follow up

Periodic reviews

Periodic reviews

Step 5

Reporting

A single application with all relevant reports available in just one click. Yes – all of them!

 

 

No time-consuming preparation is needed before audits because you have access to all these reports anytime.

How:

Oversight

Oversight

Generate custom reports

Generate custom reports

Audit trail and versioning

Audit trail and versioning

x

Already done reading?

Request a free demo right now!

Request demo

Now is the time...

Let’s start digitalize and (partly) automate your Delegation Monitornig processes.

Want to see what our compliance software can do?