April 09, 2024 -
The Policy on Due Diligence and Partnerships with the Private Sector has been updated to include the following changes:
- references to portfolio in alignment with the recently introduced new Portfolio Policy;
- an update to para. 4.9 on crisis settings, as recommended by the Risk Committee that the quality assurance over the due diligence process, and the decision-making on which private sector partnerships to pursue with the private sector, can be made by the relevant Bureau Director or by the Crisis Board, with the same requirement for monitoring as non-crisis settings.
The
Private Sector Risk Assessment Tool has been updated to reflect the following changes:
April 09, 2024 -
The Policy on Due Diligence and Partnerships with the Private Sector has been updated to include the following changes: - references to portfolio in alignment with the recently introduced new Portfolio Policy;
- an update to para. 4.9 on crisis settings, as recommended by the Risk Committee that the quality assurance over the due diligence process, and the decision-making on which private sector partnerships to pursue with the private sector, can be made by the relevant Bureau Director or by the Crisis Board, with the same requirement for monitoring as non-crisis settings.
The Private Sector Risk Assessment Tool has been updated to reflect the following changes: - include references to portfolio in alignment with the recently introduced new Portfolio Policy;
- include a field for partnership description;
- update the links to AML/CFT self-certification for donor entities and for programming entities;
- update the link to the risk log in the POPP to harmonize with the requirement of the Enterprise Risk Management policy and procedures;
- include co-branding corporate requirements under communications;
- implement light formatting and language clean-up.
The following content is now available in French and in Spanish:
October 12, 2023 -
This policy revision, approved by OPG in late August 2023, underlines a robust and decentralized approach to risk assessment, decision making, management and escalation, based on the risk levels, aligning with UNDP's Enterprise Risk Management policy and framework. All business units at HQ, Regional and CO levels, are now required to appoint PSDD focal points and establish PSDD committees to advise, quality assure and extend technical support and oversight on the application of the policy and quality of the risk assessment undertaken. The policy now offers four (instead of two) risk levels - Low, Moderate, Substantial and High, with updated due diligence requirements - Basic, Standard and Enhanced determined by the type of legal agreement, and the type of private sector entity. The policy also includes monitoring protocols, spot checks of the due diligence process as well as the inclusion of Anti Money Laundering/Countering Financing of Terrorism Self Certification in the Risk Assessment Tool (RAT).