Case Study: Hafesa strengthens third-party risk management with NAVEX One

Hafesa onboards 80 critical third parties with NAVEX

Hafesa, a Spanish energy company, faced the challenge of maturing its third-party risk management as it rapidly grew. This need was heightened after an accusation of improper business practices, creating an opportunity to reaffirm its commitment to ethics and compliance. To address this, Hafesa implemented NAVEX One Third-Party Screening and Monitoring from vendor NAVEX.

The solution provided automated onboarding and risk profiling of third parties. Shortly after implementation, Hafesa began screening its critical partners, starting with 80 third parties and 300 associated entities. The NAVEX platform allowed the compliance team to conduct deeper investigations on any flagged risks. As a result, Hafesa is now managing all aspects of its third-party due diligence program with NAVEX, with the goal of better integrating risk management into its day-to-day operations.

Hafesa