Access rights to profiles

How do I connect with other companies in the platform?

Both parties need an account in the platform to connect with each other.

If your counterparty has an account – you can connect immediately. If you want to perform due diligence on the company you can request reading rights at the same time.

If your counterparty does not have an account – you can invite the counterparty to create an account in the platform. We can also help you with this. Send us an email and we will tell you about our on-boarding process. Email: info@grcwatch.com

 

 

Who can be listed as a reader of a profile?

Once you have an account, you can make a search and request reading rights to other profiles.

It’s your company who is asking for reading rights and not you as a personal user.

Once reading rights are approved, your company will be added to the list of readers in the account of the other company. Every user in your company account will then be able to read the other profile. For instance, the whole team working with due diligence requests.

You can easily add a reader to your own profile if the company already has an account in our platform. You can also easily remove a reader at any time.

 

 

How do I find out if my counterparties are in the platform?

You can send us a list of your counterparties and we will tell you if they have a profile or not. We will also tell you if they have a “pending” account, which means that they have been invited by another company in GRC WATCH.

You can also create an account and use our trial period of 2 months. You can then make searches yourself.

What can all users see with no reading rights to other profiles?

If you search by legal name and find a profile, you will be able to read information in the first section of the profile called “Corporate information”. This section contains data which is found in public sources like GLEIF and national company registration offices.

You can see the questions in the questionnaire but you can not see any answers or comments by the owner of the profile. Instead, you will see a padlock in those areas.

The document archive will look empty even if there are documents in the archive.

You can not see any contacts until you have been defined as an approved reader by the owner of the profile.

If you are already in our platform

Where can I find an FAQ for users with more information?

We can provide you with detailed information once you have approved your invitation and logged into your account. We can book a web demo if you want and show you the key features. The demo is normally 20-30 minute long.

Soon, you will also be able to find a more extended version of the FAQ in the platform.

Remember that questions can always be sent to:

support@grcwatch.com

 

 

I received an invitation to GRC WATCH via email

Why has another company sent an invitation to GRC WATCH?

Your counterparty can invite you to our platform for 2 reasons:

  1. They need to perform due diligence on your company because it’s required by laws and an agreement you have signed with them. They have chosen GRC WATCH to simplify the work for both of you. Once you have created the profile you can share it with other companies as well.
  2. They want you to perform due diligence on their company in GRC WATCH since they already have a profile in our platform. They will get alerts to update this profile on a regular basis and you will get immediate access to information that you need in relation to due diligence.

If you believe that:

  1. your company has no agreement with the relevant company
  2. the invitation should have been sent to another company within your group, or
  3. the invitation should have been sent to another person in your company who is responsible for this type of due diligence requests

If you believe that the relationship with the inviting party is based on an agreement with another legal entity, you should inform the counterparty who sent the invitation.

If you believe that the invitation should have been sent to a colleague of yours – forward the email invitation to the right colleague and let them accept it and create your company account.

Please feel free to involve us in your invitation process because we are experts on this type of due diligence. We can share our knowledge about common practice. Email: support@grcwatch.com

Who do I contact if I have questions about the way this platform works – GRC WATCH or the inviting company?

You should contact GRC WATCH in case you have questions related to the platform. We can help you get started and show you the value of sharing a profile with many counterparties.

If you believe that the relationship with the inviting party is based on an agreement with another legal entity, you should inform the counterparty who sent the invitation.

If you believe that the invitation should have been sent to a colleague of yours – forward the invitation to the colleague and let them accept it and create your company account.

If you already have a profile in GRC WATCH, inform the counterparty by connecting with them in the platform. You can also send a personal message. From now on you can communicate only in the platform in relation to due diligence.

I’m not involved with due diligence (anymore) – can I forward the email invitation to the right person?

Yes, if you believe that the invitation should have been sent to a colleague of yours – forward the email to the colleague and let them accept it and create your company account.

Get started quickly with a free trial period

What does a 2 month trial period mean?

You can test our services for free during a two month period. You will then be able to:

  • create a profile and test sharing it with counterparties in the platform
  • invite counterparties to the platform and we can also help you out
  • request reading rights to profiles in the platform
  • send general messages to counterparties
  • create due diligence reports and ask additional questions.

Get in touch with us and we will tell you more:

Email:   info@grcwatch.com

Phone:  +46 8 66 99 200

Who should I contact if I want to start a trial period?

Please fill out the form on the following link and write a comment that you want a trial period:

Create an account

You can also contact us in either of the following ways:

Email:  info@grcwatch.com

Phone: +46 8 66 99 200

We’d like to hear from and having you as a test client!

Can I invite colleagues to our test account?

Yes of course. Log in and go to settings in the top right corner and choose “settings/users/add users”.

Your colleague will receive an invitation via email to create a user account in your company account.

It’s a fantastic way to collaborate in relation to due diligence when different persons need to create, review and approve material in a due diligence process.

The content of a profile

What is a company profile?

A profile is included in each company account. It includes the following:

  • Questionnaire – mostly yes/no and multiple choice questions but also a possibility to write free comments next to each question. The type of questions make it easier to score completeness of a profile and to offer a risk indication in the future.
  • Documents – you can upload documents according to a list of recommended documents. Use it as a support to get a complete profile. You have to choose a “category” and “type” for each document in order to make it easy to find the relevant document.
  • Contacts – list persons in charge of due diligence requests and responses. We recommend that you also list responsible sales person since they are most often in touch with each other on a regular basis.
What types of profiles do you offer right now?

There are currently two complete types of profiles but they can be shared with other types of counterparties.

The current types are designed for mandatory due diligence on a:

  • Fund company/Asset manager
  • Distributor of funds

The profiles can be used for different types of due diligence. For instance between:

  • Asset manager and asset manager in relation to FoF due diligence (Fund of Funds)
  • Distributor and sub-distributors
  • Asset manager – sub-distributor (for instance in case of large asset flows or indication of high risk)
  • Distributor and transfer agent (Know Your Investor due diligence)
  • Asset manager – fund selector (basic information about the asset management company)

We will soon launch additional types. Join our user groups to be part of development of profiles.

How can I check out the questions in a profile?

Create an account by a click here and check out the content of your own profile.

Make a search for a counterparty by legal name. Click in the different sections of their questionnaire. You will see the questions but no answers if you have no reading rights.

We can send the content of profiles as a pdf in an email before you create an account. However, we strongly recommend that you check it out in the platform.

The questionnaire is based on a review of hundreds of questionnaires, which are used by companies in many different countries. We also get inspiration from branch associations and transnational authorities. The content will be reviewed on a regular basis and if you want to provide feedback about the content of profiles, please send it in the following way:

info@grcwatch.com

 

What should I do if I want to have a new type of profile in the platform?

We are participating in discussions with groups of companies with a purpose to evaluate a mutual content of questionnaires and list of recommended documents for new types of profiles. Get in touch with us if you want to join any of our groups and tell us about the due diligence requests/responses that you would like to handle in our platform.

E-mail:

info@grcwatch.com

Who owns the information in a company profile?

The company – who accepts an invitation to create an account – is the sole owner of data in the account. The only company who can change the content of a profile is the owner of the account. This is confirmed in our Terms of Use, which is accepted before you get access to our platform.

GRC WATCH does not have any reading rights to profiles. Unless you decide to put us on your list of readers. We can see completeness of profiles in percentages in order to be able to support our clients and users with their data exchange. However, we can not see any answers or content of uploaded documents.

GRC WATCH processes personal data according to the Data Processor Agreement and Privcay policy. See our Legal section to get more information about that.

Is the content compliant with laws in all countries?

We offer a global solution which is based on the majority of requirements when it comes to monitoring of relevant types of counterparties. Intially, asset management companies and distributors of funds since we have more than 10 years experience of work with global distribution of funds.

We can make national adjustments in profiles in case it’s required for parties in a certain market. Feel free to discuss that with us.

Please send a message to:

Email:    info@grcwatch.com

Who can edit the content of a profile?

The owner of the account is the only one who can change the content of a profile. That is, the company who accepted an invitation to create an account and who is maintaining the profile in the account.

We will send different types of alerts to the owner to update and verify the content of the profile.

Is it mostly “yes/no” questions and multiple choice?

The questions in the questionnaire are tailored to accord with the respective profile types. Basic questions are the same for all (e.g. corporate information), whereas questions in other sections will differ depending on the profile type.

We strive to minimize open-ended replies, and instead provide multiple choice replies with the option to comment. The reason for the multiple-choice approach is that it makes it much easier to compare profiles.

The questions will evolve over time. Should you have feedback on the questions and/or response options, don’t hesitate to contact us at suppport@grcwatch.com. Remember that you can always pose additional questions to your counterparties using the message function in the due diligence reporting section.

Can we add our own questions if they are not included in a counterparty profile?

Each profile type on the platform is accompanied by a standard questionnaire, based on our research. To speed up the process of filling out the questionnaire, most questions are “closed”, with multiple-choice answer options to choose from. This also facilitates comparison of replies between companies. However, you can always clarify a short reply using the comment field.

If there are necessary questions that are not covered by the questionnaire you can always ask the specific question using the messaging feature and direct it to your counterparty. In such a case do not hesitate to also provide feedback to GRC WATCH. The questionnaire is intended to evolve over time.

How do we ask additional questions, if needed?

Our profiles can technically be shared with any company who has an account in GRC WATCH. You, as a profile owner, decide whether to include a company in your list of readers. If they are approved, they can see the chosen parts of your profile but nothing else in your account.

We want you to be sure on where the line is drawn between information that can be shared and information that cannot be shared with other companies. Therefore, we do not allow you to add your own questions in the questionnaire in the profile, which can be shared with other companies.  However, we allow for adaption to specific requirements in certain countries and markets. This means that we can add questions which are only shown if you have previously given a certain answer. For instance, if you have registered that funds are sold in Switzerland, then additional questions about specific requirements for the Swiss market can appear.

If you use our tool for creation of due diligence reports. you can ask additional questions and ask for additional documents. Documents that are addressed to your company only and which related to the unique terms that you have agreed with the relevant counterparty. The questions, answers and documents will them automatically be included in your due diligence report.

We believe that standardization of the content of questionnaires will grow over time if everybody starts communicating in this type of network and contribute with feedback. Please send us your feedback if you think that a question is missing in the questionnaire or if you think it would raise the quality of the profile.

Email: support@grcwatch.com

Can I download company profiles?

All profiles can be downloaded as a pdf, both your own profile and your counterparty profiles. In the future, we will offer additional features related to export of data. Please let us know if you have any specific requirements related to that.

Email:  support@grcwatch.com

Invitation of counterparties

Can you help us find contact persons?

Yes, be want you to get started in a fast way and can help you with that. Our on-boarding services includes support with research on contact persons in order to secure that invitations are sent to the right person. We have learned that these persons normally have different titles and responsibilities depending on country, type of company and size of company. We would be happy to share this knowledge with you.

How do I invite companies who are not yet in your platform?

You first make a search by legal name in order to secure that they is not already in our platform. If they are not, the platform will ask you to invite them. You can invite them right away if you know the following:

  • legal name of the company
  • first and last name of contact person
  • e-mail address of the the contact person

Your counterparty will receive an invitation via email with a link to set up an account.

We can also help you with these types of invitations if you are using our on-boarding services.

 

Can you help us with invitation of counterparties?

Yes, we would be happy to do that. Your counterparties will then automatically appear in your list of counetrparties.

We are experts on due diligence and understands the different corporate structures that exist in finance. We will comment if we believe that due diligence should be made on a different legal entity but you will always make the decision. We will transfer any information by your counterparties to you and let you answer possible questions about for instance the choice of legal entity. We will answer any questions related to the platform and its features.

 

What does “Responsible person” mean?

The first person who receives and invitation is defined as “Responsible person” as soon as this person accepts the invitation and creates your company account. This responsibility can be transferred to another person once the other person has accepted an invitation to become a user in your company account.

Ask us for our FAQ with more details about features if you want to transfer the role to another person.

Sharing a profile

How do I respond if I have received a due diligence questionnaire via email and I want you use your platform instead?

If you already have an account in GRC WATCH:

  • inform the counterparty about your profile in GRC WATCH and that they will receive an invitation to create an account and access your profile. Copy us if you want help when answering questions about the types of information and documents that they will be able to find in your profile. Email: support@grcwatch.com
  • invite them from your company account and they will then automatically get reading rights to your profile

If you do not have an account in GRC WATCH:

  • sign up for a test account at no cost by click here
  • complete your company profile (fill out a questionnaire, upload recommended documents and add contact persons for your company)
  • inform the counterparty about your profile in GRC WATCH according to above
How do I grant reading rights to my profile?

You can only grant reading rights to counterparties if they have an account in GRC WATCH.

You can visit your list of approved readers and add a new one if they have an account in our platform.

You can also go to “ Search and connect” to find and connect with them.

 

What can be shared in a profile?

You can share a profile with a questionnaire, document archive and a list of contacts.

The questionnaire is based on a review of hundreds of questionnaires used all over the world. Also on questionnaires which are recommended by certain industry associations.

We offer a list of recommended documents for each type of profile. It’s the choice of each profile owner to select documents for the profile.

You can see the contacts in another company profile when your company has been listed as an approved reader of the relevant profile.

Your additional questions and requests for unique documents will not be shared with other parties than the one you are communicating with.

 

Can we share our profile with other types of companies than asset managers and distributors of funds?

Yes. Any company who wants to perform due diligence on your company can be invited to create an account and become a reader of your profile. Get in touch with us and we will tell you more and help you with this.

Email:   support@grcwatch.com

Due diligence reports and risk assessment

How can we prove a risk based approach?

The main goals of our platform is to achieve the following:

  • efficient exchange of data related to counterparty risks
  • improvement of risk assessment of data
  • smart ways to document decisions and action points
  • immediate access to reports and your proof of compliance

By using our due diligence tool you will be able to prove that your decisions and action points are based your analysis of actual risks.

 

What types of reports can we create?

You can make reports for the following types of due diligence:

  • intial
  • regular
  • ad hoc
  • on-site visit

 

Can you perform a pre-analysis of third party risks?

Yes and no. It depnds on what you mean with “pre-analysis”.

We will offer certain types of automatic checks and indications or risks in counterparty profiles. However, you will not be able to delegate your work to our personnel when it comes to the part of the risk assessment which cannot be performed in an automatic way. Instead, we co-operate with different types of companies who are experts on third party risk assessment. Experts who really knows the markets and the specific requirements in different markets. For instance, experts who really knows how distribution works on both the asset manager and distributor side.

The above means that we are a tech supplier only and we can have all types of companies in our platform. We can also work with all types of partners. If you want to work with a specific partner, please introduce us to them and we will find a way to work together.

Compliance with GDPR

How do you comply with GDPR?

Our client agreements and Terms of Use for the GRC WATCH platform have been adapted to comply with GDPR.

The Terms of Use are accepted by any company with an account in the platform, regardless of whether the company is a paying client or if the company is just sharing a profile for free. The “Terms of Use” refer to the GRC Watch Online Privacy Statement and GRC Watch Data Processor Agreement. The latter defines the type of data which may be processed in the platform.

If you already have an account in GRC WATCH:

  • Log into GRC WATCH and access “settings/legal” in order to find our Terms of Use, Online Privacy Statement and Data Processor Agreement.

If you do not have an account in GRC WATCH:

  • please contact us and we will send you the terms. You will also access them when you create an account via our website or as a response to an invitation by one of your counterparties.

Contact us

Contact us if you have any questions about personal data, our use and disclosure procedures and your choices with regard to consent. Also, if you want to file a complaint. Please send us an email at privacy@grcwatch.com.

Alerts to both parties in a due diligence process

How do you make sure that profiles are updated on a regular basis?

We will send automatic alerts to the profile owner and ask them to secure and verify that all of the content is still correct.

Will you send alerts to the readers of a profile if anything is changed in the relevant profile?

Yes. Contact is in order to get an exact list of such alerts. They will be sent both as a message in your GRC WATCH account and as an email alert to users.

Will I receive an email alert when we have received a message or request by a counterparty in GRC WATCH?

Yes. We strive to make you active in our platform. Once you start using our platform, we hope that no emails will be sent in relation to due diligence with the exception of our email alerts.

Did we not cover your question in this FAQ?

I’m a user and I have a detailed question about a feature in the platform

Please get in touch with us. We look forward hearing from you.

We can provide you with a more detailed FAQ because this one is primarily intended for companies who are not yet in our platform.

Email:  support@grcwatch.com

Please send us your question!

We really listen to feedback by clients and potential clients and want to know how we can help you in the best possible way. So please send us your question.

Email:   support@grcwatch.com