Third Party Risk Management

At QGMI, we seek to establish safe and long-lasting relationships with our business partners and suppliers, ensuring the proper and responsible development of our activities. Our aim is to promote business practices that comply with legal standards and ensure that our third parties share QGMI’s principles of ethics and sustainability. 

Our Third-Party Risk Management (TPRM) policies are a key element of the Ethics and Compliance Programme. They help QGMI make sound decisions and mitigate risks in relationships with third parties, assessing potential risks prior to contracting to ensure that all parties involved not only observe but also uphold our values and objectives.

Our TPRM system enables real-time management of the supply chain and other third parties. It rates the level of risk and determines the necessary actions to mitigate it, automatically rejecting those who do not meet our criteria. Since 2016, we have vetted more than 3,000 third parties, including suppliers, business partners, donations, gifts, and hospitality.

TPRM provides a holistic view of the organisation’s risk profile, assessing suppliers in accordance with ABC (Anti-Bribery and Corruption), AML (Anti-Money Laundering), and Human Rights criteria, as well as ESG (Environmental, Social, and Governance) standards. It manages the supply chain in real time to prevent crimes, labour and environmental risks, ensuring adherence to our ethical values and reducing exposure to third-party-related risks.