Compliance Perspectives

By Adam Turteltaub When we think of third parties we tend to immediately think of the risks. But what if it is a third party that differentiates itself by the rigor of its compliance program? Such is the case with Swiss-based DKSH, which serves the consumer goods, healthcare, performance materials and technology industries. Tal Freilich, Vice President, Group Governance, Risk & Compliance for the company, explains that the strength of its compliance efforts have been a value add for the company and a selling proposition. So what does he see as a third party being vetted by another company? For one, he learns a lot about the company vetting DKSH. The due diligence process gives him a sense of whether the prospective business partner truly is committed to compliance or whether it might pose a risk to DKSH’s own reputation. He also sees common mistakes such as reliance on a one size fits all due diligence process. There is also an over-dependence on a process of asking prospective third parties for informati