How to Create an Efficient Risk Management Workflow

How to Create an Efficient Risk Management Workflow

Even before the prevalence of ESG scoring, there was always a lot riding on your due diligence. Traditionally, maybe you needed to identify and assess any financial and/or reputational risks before moving forward with a merger and acquisition (M&A). Or perhaps you wanted to verify that a potential c-suite hire or business partner isn’t a politically exposed person (PEP) or on a watchlist. Of course, while these tasks are still critical to risk management, your due diligence must now also consider the environmental, social, and governance factors that make up ESG.

In other words: To gain optimized monetary and brand protection in today’s complex and dynamic risk landscape, your due diligence must become effective and efficient. For example, companies are under increased scrutiny—from government regulators as well as the public—to increase their sustainability efforts and to reevaluate business relationships with those who have environmental policies that come up short. Considering how many aspects of your business can impact an ESG score (and there are a lot), Risk managers have far more moving pieces to keep their eyes on than ever, leading many of them to fall into the misbelief that they must choose between a well-informed due diligence investigation or an expedited one with a greater potential for blindspots.

Fortunately, Nexis Diligence™ gives your organization the capabilities necessary to establish an efficient process for thorough and efficient due diligence. 

How Nexis Diligence makes your risk management more efficient

Nexis Diligence empowers you with a comprehensive approach to strategic due diligence, so that you can conduct risk-aligned due diligence on a person or company of interest. With it, you gain access to timely, relevant data to integrate into your in-house ERM system, support your ESG initiatives, and power your machine learning and predictive analytics tools to enhance risk visibility.

In the case of ESG scores, these carry financial, strategic, and legal risks for your company. Now you can implement an efficient risk management workflow to ensure your personnel, partners, suppliers, and customers are making a positive impact on all relevant ESG issues. And you can do so while reducing the typical time and expense of conducting comprehensive due diligence.

That’s because Nexis Diligence provides your risk management with an unmatched collection of global content and an interactive search interface that enable you to:

• Check for negative news on individuals and entities
• Uncover previously unknown relationships between entities and potential signs of beneficial ownership
• Integrate PEPs, sanctions, watchlists, and blacklists into your ERM system
• Review a subject’s public records and litigation history
• Assess the risk of doing business in a particular country with country risk reports
• Anticipate potential financial instability with Experian® business data
• Access legal entity data, corporate hierarchy data, global news, and more from an unmatched content collection

With robotic process automation available in Nexis Diligence, you can speed up routine screening and basic due diligence tasks while building a more informed risk assessment. You can also see what matters most faster, with search results sorted based on relevancy for quicker insight into risk. Additionally, Nexis Diligence features a Report Builder for the easy creation and annotation of a highly detailed time- and date-stamped audit trail of your investigations, so that you can easily meet regulator expectations.

Adopt a platform for efficient and cost-effective due diligence

ESG isn’t going anywhere. In fact, your ESG score will carry increasingly greater impact on your ability to do business as time goes on. Don’t choose between an effective due diligence investigation or a fast one. Implement an effective and efficient due diligence process with Nexis Diligence. To learn more about how you can make your risk management more efficient, go here.