The Red Flag Group® Research & Analysis team continues to be best-inclass. This year we have grown the size of our team as well as the depth of our expertise and knowledge, particularly in those regions where clients need our guidance the most. We have introduced new technologies to assist with execution of our research methodologies and report format, achieving faster speed of execution through innovation. Our team remains focused on providing enriched data and insights so that clients are enabled to navigate complex compliance situations and properly manage risks.
Evolution of data and enforcement
Our team does not just conduct a basic review and analysis of publicly-available data – we ensure that for every business intelligence report that is written and for all content generated we bring local expertise in addition to deep insight and country knowledge. We go beyond compiling media articles, watchlist hits or interview responses; our team of experts reviews and analysis each piece of content and explains what this means to the client, tailoring that analysis to consider the industry, region and risk profile.
Enriched data is becoming more important for our clients as the impact of engaging with the wrong companies or individuals extends beyond simply avoiding potential enforcement actions. There continues to be increasing public backlash and reputational risk for clients that engage with certain business partners, even when there isn’t a technical violation of a law or regulation. It is not just about enforcement actions anymore, but also whether the companies or people our clients are considering engaging with will bring reputational damage (and potential business and financial loss). Enforcement practices continue to change as foreign governments focus on investigations and prosecutions within their own countries.
The IntegraCheck® and IntegraRating®
As risk considerations have changed and evolved for our clients, so too have our products and services. This year we implemented IntegraCheck® 7.0 to address the need for broader data and analysis. We provide information about companies and people that not only assists with the management of compliance risks, but more broadly enables business teams to decide whether those companies and people are the ones with whom they want to do business. We provide the data to help make Better Decisions™.
A large focus of the Research & Analysis team this year has been the development of IntegraRating®, our proprietary risk rating system that enables clients to make faster and Better Decisions™ when evaluating their business partners. We know our clients have different approaches to risk and we consider this a core part of our analysis. We work closely with each client on customising our ratings to address their specific risk exposure and appetite to make sure we are providing the exact level of data and insight that is needed.
Research & Analysis Teams’ initiatives for 2019/20
This year the Research & Analysis team will focus on a number of initiatives to continue building the expertise and depth of our team and supporting task management and capacity planning. We are doing this through the use of technology and maximising efficiency in our processes to ensure that our business intelligence reports are delivered on time and with continued consistency. We know that having timely and accurate business intelligence is key to the speed of execution within our clients’ businesses. With a maintained 98.5 percent on-time delivery rate and over 20 percent of reports delivered early, we continue to support our clients in achieving that speed of execution. This year, through implementation of additional technology workflows, we will be implementing Express Delivery Reports with even faster business intelligence report delivery for designated countries.
Underpinning all of this is the application of a bestpractice quality-assurance approach in every one of our processes. Our Research & Analysis team guarantees that our products and services are developed to ISO 9001:2015 standards and our processes are continuously improved to provide the best products and services to our clients. Our commitment to quality continues in 2019/20 with the implementation of a global Research & Analysis Quality Assurance team, dedicated to and tasked with the continued refinement of our existing quality-assurance processes in line with The Red Flag Group®’s Quality Policy. The Quality Assurance team will continue to meet our quality commitments and objectives and will determine the direction for continual improvement, all while maintaining a level of global consistency. No matter from what region in the world the business intelligence is being sought, our products, methodology and quality will be consistent
This is an extract from The Red Flag Group Annual Report 2018/19. To read the full report please click here.