Collaboration through communities
 

Collaborative communities Connecting buyers and suppliers across bespoke industry and geographical communities

How compliant are your suppliers with legislation, regulation and corporate governance requirements? What unknown supply chain risks could cause operational and reputational impacts?

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How is compliance with bribery and corruption legislation being effectively managed within your supply chain? Is your business exposed to potential legal action or reputational risk?

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Slavery, servitude, forced labour and human trafficking, or ‘Modern Slavery’, is a growing global issue and exists in many industries in every region in the world.

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The General Data Protection Regulation (GDPR) is the new EU regulation that will replace the 1998 Data Protection Act (DPA), coming into effect on 25thMay 2018. The UK Information Commissioner, Elizabeth Denham, has called it ‘the biggest change to data

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How do suppliers comply with your CSR policies across labour standards, ethical sourcing, equality and diversity, SMEs, use of natural resources or conflict minerals?

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How easy is it to access high quality, accurate and up-to-date information on suppliers? Is information instantly available online in a single system capable of alerting any key changes?

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FSQS

FSQS is a supplier qualification system for the financial sector.

As the regulated environment becomes more complex, FSQS provides a standard and simple mechanism for collecting and managing supplier compliance assurance information across the sector.

FSQS is a common register of standardised, validated, structured and comprehensive vendor/third party information.  A risk management tool that objectively assesses potential vendor risks, proportionally to products and services being provided and across areas of compliance.  An efficient and effective means for third parties to provide their information to multiple banks and insurance clients.

FSQS helps introduce responsible business practices, through due diligence and collaborative with multiple financial institutions within a regulated sector.

FSQS is currently used by 10 financial organisations: Lloyds Banking Group, Metro Bank, Santander, Shawbrook, TSB, Aldermore, Clydesdale Bank, Nationwide, Arbothnot Latham and LV=.

Benefits to Buyers

  • Immediate access to accurate, comprehensive and high-quality data
  • Reduced time and cost associated with pre-qualification, assurance and on-going compliance
  • More effective identification and management of supply chain risk and brand reputation
  • Enhanced management information reporting on key supplier measures
  • Ability to source creditable third parties
  • Validation of supplier data

Areas of compliance covered include:

  • Business community
  • Financial
  • Insurance and third-party certification
  • Health and safety
  • Environmental and sustainability
  • IT Security
  • Sanctions
  • Anti-bribery
  • Operational risks
  • Fraud
  • GDPR
  • Responsible business governance

For more information on how to join the FSQS community as a buyer please contact us

 

FSQS

Resources & links

FSQS Buyer Brochure
Download

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