Configure due diligence questionnaire factors
Multiple DDQs may be scored in the same risk model
Created for different third-party types and categories within the type to apply separate evaluation criteria to diverse types of third parties. Four factors make up a risk model: country, type and category, DDQ questions, and third-party custom field questions.. The scoring of old versions should be maintained even if a new version is scored.
You can score individual questions. Alternatively, you can set a default score if the questionnaire has or has not been submitted by the third-party.
The overall score is calculated from all the questions included. Each question shares in the total value allotted to this risk factor. Consider the following example. In the left column, the total averaged score of 40 is allotted for the questionnaire risk factor based on three questions. In the right column, the total score of 100 is allotted for the questionnaire risk factor based on two questions.
If weighted, the point allocation within the risk tiers Map risk scores for a third party to a recommended scope of due diligence. For example, high may require enhanced due diligence and low may require only internal review. See Risk Score. cannot exceed the total points that were assigned to the risk factor.
| Question and score | Question and score |
| Question 1 = 75 | Question 1 = 75 |
| Question 6 = 25 | Question 6 = 125 |
| Question 9 = 20 | |
| Total score = 120/3 = 40 points applied to the model | Total score = 200/2 = 100 points applied to the model |
Steps:
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Perform one of the following:
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Set a Default Score for questionnaires, whether submitted or not. Select Next Step.
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Set scores for specific questionnaires. Choose a questionnaire from Available DDQ
Due Diligence Questionnaire which can be sent to third parties for response. Questions can be added to a risk model to use in determining the overall risk rating for a third party. Versions and proceed to the next step below.
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Select the questions to include in the risk calculation.
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Select Save DDQ.
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Select Next Step.
