Risk Rating Criteria – Canada

Cyber Security Rating

GRMS and SecurityScorecard™ have collaborated to provide a powerful cyber-security rating service. SecurityScorecard non-intrusively collects data from publicly available commercial and open-source feeds across the internet for an outside-in, hacker perspective of a company’s cybersecurity posture. This data is then analyzed by SecurityScorecard data science experts who calculate scores across 10 key risk indicator categories as well as an overall security rating using an easy-to-understand A-F grading scale.

Security Rating (A or B) COMPLIANT
Security Rating (C, D, or F) ALERT – NEEDS CLIENT REVIEW
Supplier uses public domain like Gmail, Hotmail, etc. or cannot be found EXEMPT

Diversity Status Verification

When a supplier indicates they are a diverse supplier, GRMS verifies that the supplier is properly certified for one or more diversity status.

Company claims certification(s) which cannot be verified FAIL – NO DOC
Company certification(s) have expired FAIL – EXPIRED

Equifax Business Credit Report.

With the Equifax Business Credit Report you’ll gain insight and a holistic view of your commercial clients’ business viability.

When a report is found for the supplier. UPLOADED

Equifax Business Failure Risk Score.

The Equifax BFRS is a risk-scoring model that can predict the likelihood of a company ceasing business within the next 12 months.

BFRS is 1-3 COMPLIANT
BFRS is 4-5 ALERT – NEEDS CLIENT REVIEW

Global Watch List and Adverse Media Monitoring

GRMS and LexisNexis® have partnered to provide GRMS’ clients continuously monitored real-time monitoring of the legal company name of the supplier against the most inclusive, government published Watch Lists available to determine if a supplier has been listed as barred or received any type of censor by financial, criminal and/or regulatory authorities globally.

GRMS and LexisNexis® have also partnered to provide GRMS’ clients access to an extensive proprietary database of entities linked to illicit activities from over 35,000 news sources worldwide. GRMS’ adverse media profiles have been constructed by researchers based on media stories by reputable media sources in dozens of languages around the world and are continuously monitored.

Company Name appears on any sanction list or enforcement action ALERT – NEEDS CLIENT REVIEW
Company Name appears in any negative media ALERT – NEEDS CLIENT REVIEW
Company Name is listed as having government ownership ALERT – NEEDS CLIENT REVIEW

Insurance Coverage Monitoring

Verification of the A.M. Best® rating of insurance carriers, insurance limits, insurance policies and additional insured language against your company’s business criteria. In addition, GRMS continuously monitors changes in coverage and will notify you and the supplier of any changes, cancellations or expirations of the supplier’s coverage. GRMS will also proactively manage insurance expiration dates to ensure suppliers renew their coverage prior to the policy expiration date.

Insurance ratings based on client’s specific requirements  

W-8BEN-E Form Collection.

GRMS collects and verifies the most current W-8BEN-E tax form from each supplier ensuring that it has been completed properly. Image of the tax form is securely stored online and is accessible 24/7.