Due diligence questionnaires require huge amounts of time and effort to complete, often against tight deadlines.
While most investment managers keep a library of standard responses to standard questions, these can quickly become out of date and each response must be checked carefully against each due diligence questionnaire being completed to make sure that standard answer accurately covers it.
Often a number of people across the organisation are involved in completing questionnaires, with formal review and sign-off from the Compliance Officer or a Director. Coming on top of existing responsibilities, there often isn’t time to craft responses which show the investment manager at their best.
DD|hub cuts through the effort and risk and delivers a modern, secure, flexible and highly-efficient way of processing due diligence questionnaires:
- A master library of DD questions, consolidated from widely-used templates
- 'One and done' – you provide a response to each question just once - and that response is made available to advisers on an ongoing basis
- When responses need to be updated, you update the response once, and advisers who are monitoring your service will automatically get notified of the update
You can control the response process:
- You enter responses for your internal review
- A senior team member can review, edit and publish the responses
- Only formally published responses are visible to advisers
- There's a full audit trail of entries and publications, with a roll-back function, if required
A comprehensive response management and reporting process ensures good governance:
- Allocate responsibility for responses (and reviews) to different colleagues (eg for differing specialisms)
- Set review dates, so updates can be planned
- Identify who updated each response, and when
- Identify any responses which have slipped past their review date
- You can control who sees your responses
- Enquiry management and actionable MI – identify the adviser firms who have viewed your responses
Harness the efficiencies of DD|hub now for your business - call us now on 020 3633 2185 or email us at firstname.lastname@example.org for more information.