KY3P® by IHS Markit joins forces with AITEC and AIMA to Drive Due Diligence Standard
IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced an agreement with AITEC and the Alternative Investment Management Association (AIMA) to strategically strengthen its Know Your Third Party (KY3P) platform. The relationship brings together KY3P’s private cloud, one-to-many platform, with the AITEC-AIMA Illustrative Questionnaire for Due Diligence of Vendor Cyber Security.
The new questionnaire available on KY3P enables AITEC and AIMA member firms to centralise their approach for vendor outreach and establish a workflow and governance process to promote timelier, efficient and quality responses. Member firms also have the flexibility to add their own supplemental questions for vendor response.
“With over 250 members at firms representing $2 trillion AUM, AITEC is a community that understands the importance and value of information exchange,” said Maura Harris, director of Business Development and Operations at AITEC. “Accordingly, we are thrilled to extend the AITEC-AIMA DDQ to IHS Markit. This relationship will further develop efficiencies in vendor due diligence by allowing AITEC and AIMA members to systematically capture and evaluate critical vendor information on a consistent and timely basis.”
“AIMA is delighted that, as a result of this agreement with IHS Markit, the distribution of the AITEC-AIMA cyber security vendor due diligence questionnaire will be extended to our members who use the KY3P platform,” said Jack Inglis, CEO of AIMA. “This questionnaire is so important because it will enable alternative investment managers to approach technology vendors with a consistent set of questions, consequently providing efficiencies in communication and ultimately increasing our sector’s understanding of technology infrastructure.”
“KY3P brings technological innovation and operational excellence in support of the highest market standards, including those developed by AITEC and AIMA,” said Gina Ghent, managing director and head of KY3P at IHS Markit. “The asset management community has raised the bar with their leadership in publishing the AITEC-AIMA DDQ. With KY3P’s award winning technology underpinning this DDQ, we have addressed and met the dynamic and ongoing needs of the market to manage the exchange of critical information.”
The AITEC-AIMA due diligence questionnaire is available to members only.
For more information on KY3P and the AITEC-AIMA questionnaire, please register at http://events.markit.com/AITEC_AIMAwebcast for our webcast on October 11th 2016 at 10:00am EDT/3:00pm BST.
About IHS Markit(www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and expertise to forge solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world’s leading financial institutions.Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. All other company and product names may be trademarks of their respective owners © 2016 IHS Markit Ltd. All rights reserved.
AIMA, the Alternative Investment Management Association, is the global representative of the alternative investment industry, with more than 1,700 corporate members in over 50 countries. AIMA works closely with its members to provide leadership in industry initiatives such as advocacy, policy and regulatory engagement, educational programmes, and sound practice guides.
Providing an extensive global network for its members, AIMA’s primary membership is drawn from the alternative investment industry whose managers pursue a wide range of sophisticated asset management strategies. AIMA’s manager members collectively manage more than $1.5 trillion in assets.
AIMA is committed to developing industry skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst designation (CAIA) – the industry’s first and only specialised educational standard for alternative investment specialists.
For further information, please visit AIMA’s website,www.aima.org.
AITEC is a private secure community of senior professionals sharing advice, knowledge, insights and best practices for the betterment of the alternative investment industry. The community fosters trust and camaraderie by way of promotion of open and honest sharing of information, following the Chatham House Rule. The platform provides access to peers, information, DDQ templates, networking events, experiences, and vendor discounts exclusive to AITEC members. Over 250 members strong, the community's members represent firms around the globe, with assets totaling over $2.2 trillion.
Today, AITEC has 2 membership communities available to senior non-investment professionals in alternative asset management. Membership is subject to approval. The AITEC - CTO community is exclusive to senior technologists typically holding titles of CTO, CIO, CISO, Director of Technology, IT Manager, Head of Infrastructure, Head of Development. The AITEC - FORC community is exclusive to senior executives in Finance, Operations, Risk and Compliance ("FORC") typically holding titles of COO, CFO, CCO, CRO, Head of Treasury, Head of Operations.
For further information, please visit AITEC’s website,www.aitec.org.