Track risk assessments from the due diligence playbook

As procurement specialists, use the due diligence playbook to track supplier risk assessments and complete the associated tasks.

Avant de commencer

Role required: Procurement specialist

Pourquoi et quand exécuter cette tâche

When a sourcing request is added to a sourcing event, in the Qualification needed state, a supplier case of type due diligence is triggered to address risk assessments. You can choose to close the case through the playbook if there are duplicate requests. In case of no duplicates, a new due diligence is initiated through the playbook. The same Third-Party Risk Management (TPRM) record producer is used here. You are notified at each step in the TPRM workflow, such as inherent risk assessment, third-party risk assessment, and so on. You can review the risk rating after the due diligence is complete. Now, you can either accept or reject the risk rating, and take necessary actions based on this decision. Select Mark Complete to close the due diligence case.

Procédure

1. Navigate to All > Procurement Case Management > Source-to-Pay Workspace.
2. Select the List icon () and select All work > Cases.
3. Select the Due Diligence procurement case from the list for further processing.
   The Playbook tab opens with the Assign case section.
4. Complete the steps in the various stages and activities of the Create a Due Diligence Request playbook.

   Tableau 1. Stages of create a due diligence request playbook

   Stage	Activity	Activity Details
   Review case	Assign case	Use this activity to assign the case to a different person or keep the case assigned to you. You can do the following: In the Assigned to search field, search for and select the person that you want to assign the case to. In the Short description field, update the description for the case. Select one of the following actions: Select Save to save your changes. Select Start work to start working on the case.
   	Update case to work in progress	This activity updates the case to Work in progress and completes automatically.
   Create Request	Review the Supplier details	Review the supplier details and select Continue.
   	Check for duplicate Due Diligence Requests	Checks for duplicate due diligence requests. If there aren't any duplicate requests, select Create new request.
   	Create Due Diligence Request	Request third-party risk due diligence by selecting one of the following options: Onboard a new engagement Reassess an existing engagement Reassess an existing engagement for contract renewal Offboard an engagement with due diligence Offboard an engagement with NO due diligence Add any relevant attachments, if required, and select Submit. The relevant third party, if available, is automatically populated. If the third party is not listed here or incomplete information is provided, enter the following details: Third-party information Engagement information Third-party address Engagement address Third-party primary contact Engagement primary contact
   	Update PC Record with the DDR case	Updates the procurement case record with the due diligence request case. A due diligence case is created for the supplier. After that, the created case record ID gets populated in the Related DDR field under the Details tab.
   	Wait for risk process to start	Wait for the inherent risk assessment to complete. At this point, the TPRM team starts onboarding the supplier associated with the created DDR.
   Assess Risk	Wait for the Inherent Risk Assessment	Wait for the inherent risk assessment to complete. Here, the assigned respondent completes and submits the inherent risk questionnaire, and the TPRM team updates the INA record and sets it to Closed state. Details of the INA record are provided in parallel in the playbook.
   	Notify requestor on the Inherent Risk Assessment	A notification is sent to you with the information that the inherent risk assessment is now complete.
   	Wait for the Third-Party Risk Assessments	Wait for the third-party risk assessments to complete. Here, the TPRM team starts the due diligence for the supplier associated with the created DDR. Details of the third-party risk assessments for the third party and the engagement are provided in parallel in the playbook.
   	Notify requestor on the Third-Party Risk Assessment	A notification is sent to the requester when both these risk assessments are completed and in the Closed state.
   	Check for the status of the Due Diligence approval process	Review the status of the entire due diligence approval process. At this point, the TPRM team moves the DDR to the TPRM approved state. A notification is sent to you with the information that the due diligence request has been approved by the TPRM team. The risk ratings from all the above assessments are now displayed in the playbook. Remarque : At any point during the above TPRM activities, if the record gets rejected, then a notification is sent to you regarding this rejection, and the case is moved to Closed rejected.
   	Notify requester that the request has been approved.	The requester is notified when the DD Request is approved by TPRM team.
   Review Risk Rating	Accept or reject risk rating	Do one of the following: Select Reject Risk Rating, notify the requester that the request has been rejected, and mark the case as Rejected. Select Accept Risk Rating, notify the supplier, and mark the case as Complete.
   Close case	Get Supplier contact email from DDR record	Gets the email ID of the supplier contact from the due diligence request record.
   	Notify Supplier	Use this activity to email the supplier about the status of the due diligence request. A draft email appears with pre-populated data in the Subject field. The email body is pre-populated with the relevant text. Select one of the following actions: Send Email: Sends the email instantly. Skip: Skips this activity and moves to the next activity.
   	Complete case	Use this activity to add work notes and close the case. Do the following: In the Work notes field, add any comments about the case. In the Close notes field, add any closing comments. Select Complete case.
   	Update case to complete	Updates the case to Closed Completed.