FSQS-NL FOR BUYERS
Supplier Information and Risk Management
FSQS-NL is a community of financial institutions including banks and insurance companies collaborating to agree a single standard for collecting the increasing amount and complexity of third and fourth-party information needed to demonstrate compliance to regulators, internal policies and governance controls.
FSQS-NL ensures an objective and consistent approach is taken to assess the inherent risk in third and fourth-parties and collect the information relevant to the nature of goods and services being supplied, across all key risk control areas including information/cyber security, data privacy, business continuity, financial crime, conduct risk, financial, legal and corporate responsibility.
FSQS-NL provides a more efficient and effective means for your third and forth-parties to provide their information, as they can maintain a single profile of information that is accessed by all their customers in the community. Collaboration with peers facilitates a pooling of knowledge and expertise to determine the best approaches to meeting regulatory requirements.
Hellios manages the collection and validation of information from third and fourth-parties to help our buyer customers meet regulatory, legal and corporate governance requirements; and ensures that the information is kept up to date for the duration of the contract or business relationship.
All supplier information is published for the community to search, analyse and report through a standard Internet browser, and can be exported into other applications or processes. Hellios provides advice and guidance on how to best use the vast amount of data available.
All members of the community have an equal input into the ongoing development of the FSQS-NL system and service, which is continually updated to keep aligned with, and ahead of, regulatory changes. FSQS-NL has the flexibility to ensure each buyer members needs are catered for.
All suppliers complete a basic registration questionnaire on-line through the FSQS-NL branded portal. This allows the system to develop a risk profile of suppliers determining whether the supplier needs to provide any further information.
The second information stages are completed by supplier operating in higher risk areas. Suppliers complete a more detailed questionnaire including uploading supporting documentation where applicable. Our expert team quality check and validate all information which the supplier submits to ensure the information received comply to the highest quality, currency and accuracy.
Risk & Compliance
Hellios’ supplier information and risk management services support the growing and diverse nature of supply chain risk in today’s economy.
Demonstrating supply chain compliance and continual improvement is essential for legal, regulatory and corporate governance standards and as part of effective reputation management.
Managing third party risk and due diligence has become increasingly complex, requiring collaboration across procurement, compliance and risk teams to ensure an efficient and effective approach.
Hellios supplier information and risk management services provide systematic and consistent approaches to managing corporate-wide third party compliance and reporting.
To find out more about how we can support and enhance your third party due diligence, compliance and risk management requirements please contact us today.