Services/Engagement hierarchy within Third party Risk moducle

[Chandan_jha]

Hi,

We have the below use case-

Our organization has multiple divisions. Multiple divisions might be leveraging the same vendor and service, but the use cases might be different. As currently we do not have a hierarchy wherein, we can link multiple engagements to a service, we are creating engagements for each division and hence the vendor is getting due diligence questionnaire multiple times for the similar engagements. 

We want to be able to link similar engagements to a service so that we can have due diligence done at the service level and IRQ's at the engagement level.

Is there a way to achieve this?

[Rick Halder]

@Chandan_jha Hello

Yes, you can achieve this by creating a custom table to link engagements to a service. Here are the steps:

1. Create a new table in ServiceNow to store the relationship between engagements and services. This table should have two reference fields, one for the engagement and one for the service.

2. Update your engagement creation process to include a step where the user can select the related service from a dropdown list. This list should be populated with services that are related to the selected vendor.

3. Update your due diligence questionnaire process to check if a questionnaire has already been completed for the selected service before sending out a new one. If a questionnaire has already been completed, the process should skip sending out a new one.

4. Update your IRQ process to be at the engagement level as desired.

5. Create a report or dashboard to show the relationships between engagements, services, and vendors. This can help you identify any potential issues or areas for improvement.

Please note that this solution requires some customization and scripting in ServiceNow. If you are not comfortable with this, I recommend reaching out to a ServiceNow developer or consultant for assistance.

[farhan123]

Certainly! It sounds like you're looking for a solution to streamline and consolidate the due diligence process for engagements with the same vendor and service across multiple divisions. One way to address this is by implementing a hierarchical structure that allows you to link multiple engagements to a common service. Here are some steps you might consider:

1. **Service Hierarchy:**
Establish a hierarchy within your system that allows you to categorize engagements under specific services. This could involve creating a service entity that acts as a parent to multiple engagements.

2. **Link Engagements to Services:**
Modify your engagement creation process to include the selection of a specific service. This way, engagements can be linked to a particular service in the hierarchy.

3. **Due Diligence at Service Level:**
Design your due diligence process to be applied at the service level. This means that when engagements are linked to a common service, due diligence is conducted once for that service, avoiding duplication.

4. **Engagement-Level IRQs:**
Continue to manage specific engagement details at the engagement level. This includes handling Individual Request Questionnaires (IRQs) for each engagement, ensuring that the unique requirements of each division are addressed.

5. **Centralized Vendor Communication:**
Implement a centralized communication system with vendors. Once due diligence is completed at the service level, communicate relevant information to the vendor, reducing redundancy in questionnaire submissions.

6. **Automate Notifications:**
Utilize automated notifications to inform divisions when due diligence has been completed at the service level. This ensures transparency and keeps all stakeholders informed.

7. **Reporting and Monitoring:**
Develop reporting tools to monitor engagements and services, providing visibility into the status of due diligence and IRQs across divisions.

8. **User Training:**
Conduct user training sessions to familiarize staff with the new hierarchy and processes. This will help ensure a smooth transition and consistent implementation.

By implementing these steps, you should be able to create a more efficient and organized system for managing engagements with the same vendor and service across multiple divisions. also read