Managing Onboarding Assessments

Important: Only Level 1 & Level 2 users granted the specific permission can review/manage assessments submitted from the third party assessment site.

Assessments are questionnaires that potential third parties or business sponsors can complete that help organizations evaluate risk and conduct meaningful due diligence. The submissions from the third party assessment portal site are reviewed and managed in RiskRate.

This feature is available for RiskRate Enterprise subscription level organizations and includes the following out-of-the-box assessments:

Onboarding Title / Type Description Modules Included

Business Onboarding Assessment / Business

 

 This assessment is designed to collect the information required to create an Organization type third party profile.

Modules included:

  • Business Information (including Profile Risk questions)

  • Contact Information

  • Certification

Preliminary Compliance & ESGClosed Environmental and Social Governance Assessment / Business

 This assessment is designed to collect information related to an organization’s compliance and environmental social governance practices. The data can be used to create an Organization type third party profile.

Modules included:

  • Business Information (including Profile Risk questions)

  • Contact Information

  • Ethics & Compliance Information

  • ESG Information

  • Certification

Individual Onboarding Assessment / Person

 

 This assessment is designed to collect the information required to create a Person type third party profile.

Modules included:

  • Individual Third Party Information (including Profile Risk questions)

  • Contact Information

  • Certification

Accessing Onboarding Assessments

From the RiskRate menu on the left, click Onboarding Assessments.

The Onboarding Assessments page displays.

The Manage Assessment grid of the Onboarding Assessment page displays the following columns:

Column

Description

Third Party Name

Name of the third party

Assessment Name

Name of the Assessment

Contact Name

Name of the Contact

Status

Current status of the Assessment (Accepted, Denied, In Review, New, Revisions Pending, or Updated)

Risk Rating

Rating of the risk level assigned to the third party (Green, Yellow, Red, or None)

Profile Risk

Level of risk assigned to the third party (Low, Medium, High, or NA)

Last Updated

Time stamp of when the Assessment questionnaire was last updated

Action

Click Review to open and review the Assessment. Can also Create New Third Party if Accepted, or Delete Assessment if Denied.

Creating a New Third Party

After an assessment has been accepted, it can be used to create a new third party profile from the Manage Assessments page.

Click from the Action column of the third party to be created. See Accept, Add to, or Create New Party of Review Assessments for more information on creating a third party from an assessment.

Deleting an Assessment

After an assessment has been denied, it can be deleted from the Manage Assessments grid.

Click the remove icon () next to the assessment to delete it. It will still be available in the Assessments Dashboard on the Assessments portal site.