LONDON, Feb. 27, 2017 (GLOBE NEWSWIRE) -- Dow Jones Risk and Compliance, a leading provider of anti-money laundering, anti-corruption and sanctions compliance data solutions, has completed the acquisition of RiskAverter from U.S.-based Compliance Strategies International, LLC.
RiskAverter’s innovative solution enables companies to automate risk “scoring” so they can quickly and effectively assess third parties in relation to anti-corruption and other regulatory compliance risk areas.
The RiskAverter product will be fully integrated within Dow Jones’s workflow application, providing a complete third party risk solution for corporate customers.
Due for launch in summer 2017, Dow Jones’s new workflow application will consist of a complete solution to assess, investigate and monitor third party risk, leveraging the RiskAverter technology to score and categorize the risk levels of third parties based on responses to a proprietary questionnaire. In doing so, the solution enables businesses to focus resources on their higher risk third parties, therefore managing the third-party due diligence process more efficiently. The solution also makes recommendations based on the risk category to remediate anti-corruption, human trafficking and other third party risks.
“Over the past 14 months we have added both Batch Screening and RiskReports to our RiskCenter offering. The acquisition of RiskAverter will further strengthen our suite of risk and compliance solutions, powered by Dow Jones’s world-class data,” said Joel Lange, managing director of Dow Jones Risk and Compliance.
Jim Lord, Compliance Strategies International’s CEO and co-founder, will consult on the RiskAverter product for Dow Jones Risk and Compliance. Before launching RiskAverter, Mr Lord served as an Assistant U.S. Attorney with the United States Department of Justice (DOJ) for over 20 years, acting as Chief of the Corporate Fraud Task Force for the Western District of Washington, and as an expert international adviser and instructor for DOJ throughout the world.
Additionally, Dow Jones has hired Gavin Proudley to lead its growing RiskReports division, which provides market leading open source due diligence reports developed by a global, multilingual research team spanning Barcelona, London, New York, Shanghai and Singapore. Mr Proudley previously led corporate intelligence services in the UK at EY, having also worked in the UK’s Ministry of Defence, Foreign Office and Cabinet Office.
“Jim Lord and Gavin Proudley are important additions to the Dow Jones Risk and Compliance team, who will support our market leadership through additional product and innovation know-how and deeper industry expertise,” said Chris Lloyd, head of Dow Jones’s Professional Information Business.
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest newsgathering operations globally. It produces leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Factiva, Barron’s, MarketWatch, Financial News, DJX, Dow Jones Risk & Compliance, Dow Jones Newswires, and Dow Jones VentureSource. Dow Jones is a division of News Corp (NASDAQ: NWS, NWSA; ASX: NWS, NWSLV).
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Source:Dow Jones & Company