Manufacturing an Ethics & Compliance Program
Fortify third-party relationships through a strong, internal E&C program.
The Challenge: | The Solution: |
Managing ethics and compliance risks and regulatory requirements in the manufacturing industry is a top priority and challenge. Not only do manufacturers need to build positive cultures within their own diverse and widely distributed workforces, but they are also connected to a larger community of third-parties: suppliers, vendors and distributors that are playing an increasingly important role in manufacturers’ success. Third-parties have the potential to impact a manufacturer’s reputation and bottom line, especially if they are operating outside of social, organizational or regulatory expectations. | NAVEX Global’s ecosystem covers a manufacturer’s ethics and compliance concerns internally and externally. Internal concerns are managed with a central repository of policies and procedures in PolicyTech®; risk-based employee training assigned and tracked through NAVEXEngage®; and multichannel reporting and incident management organized and resolved with EthicsPoint®. Externally, these concerns extend to third-parties and other stakeholders with RiskRate®, NAVEX Global’s third-party risk management solution. This empowers your organization to thoughtfully build, educate and monitor your third-party network. |
Process: Extend Your Ethics & Compliance Efforts to Third-Parties
- Batch upload your existing third-party engagements, and new engagements as they arise.
- Justify business need and scope third-party risks. Distribute questionnaires, code of conduct, policies and training to your third-parties to align them with your culture and expectations for ethics and compliance.
- Continually monitor your third-party network in line with your organization’s risk profile to proactively assess and engage your third-parties.
Benefits
Have Confidence in Your Third-Party Solution: RiskRate allows you to automate management of your third-party relationships – whether this is a few hundred or a few hundred thousand. Visual risk ratings are generated and scored in line with your organization’s unique risk profile.
Eliminate Duplicative Efforts: House your global third-party risk management process in a single, central platform, accessible by as few or as many employees as your organization needs to manage and track third-party relationships and their risk status across your organization.
Audit-Ready Reporting: Detailed relationship histories from onboarding to screening to monitoring are housed in a single platform – making it easy to access and share your third-party risk status.
- E&C Peace of Mind: The NAVEX Global ecosystem provides a holistic ethics and compliance program with tools for policies and procedures, training, and hotline and case management to not only meet regulations but to also build a strong culture. Our solutions are built on over 35 years of experience and manufacturing is the top industry with which we work. For your organization, this translates into customer-driven solutions and value.
About NAVEX Global, Inc.
NAVEX Global is the worldwide leader in integrated risk and compliance management software and services. Trusted by more than 14,500 customers, our solutions help organizations manage risk, address complex regulatory compliance requirements and foster an ethical, highly productive workplace culture.