The Compliance Screening and Monitoring module from Blue Umbrella GRC will give you access to over 900 global risk, compliance and sanctions lists to identify potential areas of concern and make timely business decisions. Gain additional insight into your business partners to ensure that your organization has a full view of third-party risk. Run a one-time screening on demand or schedule ongoing monitoring on one or all of your third-party partners.
The Compliance Screening and Monitoring module gives you critical real-time data from key global risk and compliance databases including:
Blue Umbrella GRC simplifies the way mid-size companies do screening and monitoring with the following capabilities:
Predictive name matching algorithms
Flexible screening frequency
Volume data processing
Minimizing false positives
Multilingual search capabilities
Comprehensive reporting functions
Risk level assignments based on matched entities
No implementation or IT support required! Upload data on your third parties into the centralized interface. Lots of third parties to manage? Use our bulk upload feature.
Highly intuitive to use, the Compliance Screening and Monitoring module makes it easy to either run a one-time compliance database check or schedule an ongoing monitoring report.
Our real-time, on-demand compliance screening allows you to quickly gain critical insights on your third parties and immediately collaborate with internal stakeholders to remediate any areas of risk.
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The Compliance Screening and Monitoring module provides organizations with an on-demand or scheduled database check of one of the largest most well-regarded sanction, watchlist, political exposure and derogatory findings databases available. It provides access to over 900 global regulatory compliance databases and directly integrates these critical insights into our easy-to-use interface. This reduces the amount of manual tracking and documentation associated with an offline or manual process.
Blue Umbrella GRC is a modular solution built for mid-size companies. Typically, screening solutions are built for finance and other high risk companies with tens or hundreds of thousands of relationships that need to be covered. Blue Umbrella GRC is specifically designed in smaller, manageable pieces, providing not just access to the data to ensure your organization isn’t dealing with bad actors, but also the workflows to help operate your program. It allows authorized people from all parts of the organization to manage, contribute and collaborate on meeting your organization's compliance requirements.
These people may include team members from compliance, IT security, legal, privacy and data security as well as subject matter experts from other departments where required.
Typical roles that use the screening solution include trade compliance, legal, sales operations, procurement, client onboarding, and other roles that safeguard your company from dealing with the wrong companies or individuals.
Our customers comprise some of the most well-known Fortune 100 organizations, so we are subjected to the most rigorous penetration testing, physical and software audits and have always passed with flying colors.
Blue Umbrella has partnered with a premier provider of data. The database includes millions of records from the world’s most pertinent watchlists like the OFAC SDN, as well as extra research to reduce false positives. The scope of the database is such that it will assist if you are a trade compliance professional ensuring sanction compliance, a legal professional making sure a third party is not a state owned enterprise (SOE), or a procurement professional avoiding dealing with an entity implicated in modern slavery.
Some of the key categories of findings are as follows: political exposure, enforcement, sanction, state owned enterprise, adverse media.
Compliance Screening and Monitoring users can manage and remediate any identified risks within Blue Umbrella GRC. Review risks, assign them to internal subject matter experts or begin remediation of the identified risks all within the single, centralized solution.
Users should review the risks and identify whether your organization has the necessary controls in place to ensure that if the identified risk(s) happens again, you have the necessary process, policies, or procedures in place to remediate. Additionally, you may consider ordering a due diligence report to give further insights into these identified areas of risk.
We recommend that organizations synchronize their risk assessment recertification process with quarterly monitoring of their third parties. This ensures that any compliance-related issues that have occurred over the past quarter are reviewed in a timely manner.
You can be up and running within a few minutes of signing up. Simply upload your third parties, select the service you want (compliance screening, ongoing monitoring or both) and order.
Modular Blue Umbrella GRC software streamlines how mid-size organizations identify and communicate risk.
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