Enterprise Risk & Compliance
Anti-Bribery & Anti-Corruption Compliance
Generating Enterprise Risk and Compliance Impact
Organizations with expanding footprints in global markets are facing increased scrutiny on bribery and corruption. Understanding, and most importantly acting upon, the difference between a legitimate activity in one country and illegal in another is key.
Genpact's best-in-class Anti-Bribery and Anti-Corruption (ABAC) programs reimagine our clients' end-to-end risk and compliance practices by transforming the fabric of enterprise operations across processes, advanced digital technology, and analytics. We generate impact quickly due to our extensive business domain expertise, experience running complex operations, and ability to focus on what works and makes transformation sustainable.
Our ABAC services are inspired by our unique Lean DigitalSM approach that aligns digital interventions with measurable business outcomes by harnessing technology, design-thinking focused on the end user, and Lean principles. This approach leverages business transformation methods, such as our Smart Enterprise Processes (SEPSM) framework, Systems of EngagementTM, and Data-to-Action AnalyticsSM. Combined, these methodologies create Intelligent OperationsSM that sense, act, and learn from their actions.
To enable compliance with anti-bribery and anti-corruption legislation, Genpact delivers the following services:
Genpact helps organizations identify the business processes that are most prone to corruption and violations. Our advanced operating model focuses key resources to monitor risk in the right places, and leverages cloud-based tools to do so. The characteristics of the client's operations are identified using multiple parameters, including information on the nature of operations in specific countries and indices such as Transparent International's Corruption Perceptions Index.
Review and standardization of policies
Policies for procurement, travel and expenses (T&E), and accounting must be aligned with corporate anti-corruption policies and enforced with clear support from senior management. By comparing local and corporate policies, we can enable adherence and alignment between local legal and corporate requirements.
Best-in-class analytical capabilities
Genpact's analytical tool, the Intelligent Process Insights Engine, reviews vulnerable transactions to generate critical insight into potential areas of corruption. The tool extracts data from multiple sources, applies cognitive intelligence, and provides real-time dashboards to identify the root causes of risk scenarios, which can then inform process reengineering initiatives.
Third-party screening and monitoring
Our collaborative platform offers ongoing enhanced third-party screening based on dynamic risk profiles of vendors, distributors, and suppliers. The platform creates a near real-time risk scorecard of third parties that is calculated and synthesized through our third-party risk management domain, consulting expertise, and multiple digital capabilities, such as natural language processing, cognitive intelligence, and machine learning, etc.
Audits and remediation
Genpact conducts independent audits to evaluate the effectiveness of existing ABAC controls. The audit identifies and reports on potential compliance gaps and offers remediation recommendations.
Continuous monitoring of corruption risk
Our programs deliver continuous monitoring of risk at optimum cost through:
- Unique remote-site delivery model
- On-demand cognitive analytics
- Adaptive risk-profiling models
- Country- and industry-specific audit programs
- Ready-to-use e-learning modules
- Extended access to ABAC knowledge through our global panel of advisory experts and legal partnerships
- Technology partnerships with market leaders, including Hiperos, Oversight, LexisNexis, and ACL
Training and reporting systems
Genpact offers interactive e-learning modules that can be integrated with existing learning management solutions. Available across multiple devices, these modules help organizations manage, monitor, and report on their compliance programs.
We also conduct internal and external training and awareness campaigns, and provide self-assessments and self-declaration tools for effective monitoring.
Through our compliance center of excellence, Genpact helps organizations build the foundation for a robust compliance program with a strong return on investment.
Doing business in more than 150 countries, a sportswear company was exposed to significant risks due to anti-corruption laws, such as the Foreign Corrupt Practices Act (FCPA). The company had no mechanism for screening vendors, ineffective processes for identifying and mitigating risk, and inadequate monitoring of high-risk spend.
Genpact and its partner, LexisNexis, designed and built a full vendor-screening process and compliance framework with built-in data analytics to mitigate corruption risks. Genpact also formulated guidelines for addressing key gaps and applying a continuous anti-corruption monitoring system for high-risk spend.
Thanks to the framework, the company identified 24 potential blacklisted vendors that represented significant procurement spend.