Our advanced ratings enhancement was created to allow your team to automatically apply your secret sauce more efficiently while rating and scoring on DV. It provides your team with the flexibility to set different criteria for your rules- percentage based, knock-out criteria, or total scores based on various combinations. Take a look at how to apply the most frequently used rules below.
1) Navigate to "Diligence" > "Templates"
2) Select "More Actions" > "Set flags and scores"
3) Click on the "+" sign and select "advanced"
4) Decide what area of the template you would like to apply the new rule to. You can now create rules that apply to one specific sub-category, category or the entire project.
- "Response Contains" logic: Enter specific text and numeric values that the response contains to be flagged. This is useful when your team wants to quickly flag keywords that are used in responses such as “felony” or “liquidated” or “high-risk”. Instead of reading the entire response, these responses will automatically be flagged.
- "Response difference" logic: Will show the absolute (numeric) or relative (percent) changes in responses. This new functionality allows your team to compare the response to this request, with the previous response on the platform. This can be applied for risk and compliance use cases that involve flagging large changes in returns. Automate your risk framework and identify significant changes that need attention.
- Parent and nested logic: Your team can now flag the response to the parent question or nested question, based on the response of the other. In the example below, the rule is affecting the parent question "Do you have an ESG Policy?" but it is based on the nested question, "please explain why you do not have an ESG policy?". If the user's response to the nested question contains the words "not applicable", the parent question will be flagged and will receive a low rating.
Advanced Score Rating Rules:
- Composite Conditions: Trigger actions based on the count or percentage of questions/sub-categories/categories that match a specified condition. In the example below, the rule is set for the category "Impact Investing & Diversity", and is based on two composite conditions. 75% of the yes/no questions in the sub-category ESG Considerations must have a response equal to yes, AND, 75% of yes/no questions in the sub-category "Firm Diversity Profile" must also have a response equal to yes.
- Knockout Criteria: Assign a score/rating to the entire project, category, or sub-category based on defined rules. This can be used if a certain response should be given more weight than the other responses. In the example below, if the question, "do you have a business continuity plan" receives a response equal to no, the entire project will receive a low score.
- Total score based on combination of ratings - Based on the aggregate of ratings given to each sub-category, your team can assign a total score to a specific category
- Ex. If one category is HIGH and one is MEDIUM, total score should be MEDIUM.
- Ex. If one category is HIGH and two are MEDIUM, total score should be HIGH, etc.
- In the example below, if greater than or equal to 2 sub-categories in the category "basic information" receive a score or rating that is greater than or equal to 2, the entire category will receive a HIGH rating.
Please refer to the video below:
For more information on setting up standard rules, please see this article.