Approval process management

You can view the list of users who can approve or reject a DD request and also view the details of their approval actions. In addition, you can view the approval levels for a request.

Approval process

During the approval process, each aspect of risk is analyzed by the appropriate internal stakeholders. All internal stakeholders (approvers) review the questionnaire responses and supporting documents from the third-party and engagement contacts. If the responses are good, one or more approvers approves and then closes the DD request. If a contract will be prepared, the approved request moves to the Contract Risk process.

Accessing the Due diligence management page

You can access the Due diligence management page from many locations by selecting the DDR number for any DD request. Select either the Approvers tab or the Approval levels tab.

Approvers tab

The tab lists the users that have responded to the engagement request. Select the State value to view the details of the approval action that the approver performed.

The state of the approval can be one of the following values:

• Not yet requested

• Requested

• Approved

• Rejected

• Cancelled

• No longer required

[Omitted image “tprm-ws-dd-mgt-approvers-tab.png”] Alt text: Accessing the Approvers tab.

Select the State value for a request to view the Details tab for the request.

[Omitted image “tprm-ws-dd-mgt-apprvl-details-tab.png”] Alt text: Viewing the details of an approval.

Approval levels tab

[Omitted image “tprm-ws-dd-mgt-approval-levels-tab.png”] Alt text: Viewing approval levels.

Note: For more information on how Third-party risk (TPR) admins can set approval levels and rules, see Set up the approval levels for due diligence requests and Set up the approval rules for due diligence requests.

Approval business rules

If you have the TPR admin [sn_vdr_risk_asmt.vendor_risk_admin] role, you can view all business rules by navigating to All > System Definition > Business Rules.

The following business rules are included when the Third-party Risk Due Diligence [sn_tprm_dd] application is activated.

Business rule Source table Description Create approval records Third-party due diligence request [sn_tprm_dd_request] Creates approval records for the evaluated approvers, setting the first record to Requested and subsequent records to Not yet requested when the due diligence request state updates to Awaiting for approval. Roll up approval and update DD Approval [sn_tprm_approval] Marks next approval record as Requested if multiple approvals are required. If all required approval records are approved, then the due diligence record state is updated to Approved. Cancel existing approvals Third-party due diligence request [sn_tprm_dd_request] Cancels approval requests if the state of the approval record is updated to No longer required.

• Approval rule form
  The approval rule form captures all the information needed to create an approval rule. An admin or third-party risk admin can create an approval rule.

Parent Topic:Third-party Risk Management reference

Related topics

Approving or rejecting requests for due diligence

Set up the approval levels for due diligence requests

Set up the approval rules for due diligence requests

Approval rule form