Implementation of an effective, efficient and IT-supported compliance business partner due diligence for E.ON
Implementation of Business Partner Due Diligence System at E.ON
Interview with Markus Jüttner (E.ON)
Where do you currently see the challenges in the area of compliance?
Markus Jüttner: “When it comes to compliance, there’s an eternal arms race based on the motto: a lot helps a lot. It’s often about best practice standards, but in many cases that just means a lot of money and time has been invested in an elaborate system. But whether it actually works is another question.
At the end of the day, it’s not about how complex or complicated impressive a system is, but how efficiently it works and effectively prevents corporate crime.”
What is your approach?
Markus Jüttner: “I make a principled distinction between compliance employment and compliance work. It is not about keeping the compliance function within a company somehow busy, but about doing the most effective compliance work possible to address the prevention, detection and punishment of systemic risks and to prevent corporate crime.
In practice, this means perceiving and implementing compliance as an interdisciplinary activity. I do not mean a purely legal (consulting) activity, but a proactive approach and understanding of business.
Compliance actively goes into the business areas, even where it may hurt. For other compliance activities, such as documentation, reporting and processes, the administrative effort should be as low as possible; therefore, I favor effective digital compliance products here that are as automated as possible.”
Why did you choose Compliance Solutions?
Markus Jüttner: “We chose Compliance Solutions as part of a global tender process. Ultimately, the decisive factor for the decision was that the company can demonstrate technical compliance expertise in addition to its high level of IT competence, which makes the project work much easier. We spoke the same language virtually from the start, and that was without sophisticated IT expertise in my team.”
How does Compliance Solutions support you?
Markus Jüttner: “For the topic of screening potential business partners, we opted for the Business Partner Due Diligence System. The solution helps us to work efficiently, scalably and across the group.”
Business Partner check at E.ON
Business Partner Due Diligence
Introduction of an effective, efficient and IT-supported compliance business partner audit for E.ON and the global Group companies, involving all business units as well as external business partners.
Adapting the Business Partner Due Diligence system to E.ON’s needs using agile methods and partnership-based collaboration.
Data protection-compliant business partner auditing with a high degree of automation, risk-adequate audit depth, clear responsibilities, and audit-proof traceability.
Why Compliance Solutions?
The Compliance Solutions software platform enables E.ON to effectively address systematic risks and prevent corporate crime interactively with the business units and external business partners.
- Consistent master data on business partners
- Risk-based involvement of business partners through online questionnaire
- Minimizing the administrative efforts of the compliance function with the involvement of the business units and business partners
- Continuous and automated real-time data update of all risk-relevant information and check against relevant sanctions lists and adverse media
- Checking based on risk triggers and different checking depth in light or extended check
For more information and product demonstration on the Compliance Solutions Business Partner Due Diligence System, click here.
Download the E.ON Case Study on the Business Partner Due Diligence System as PDF
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