RapidRatings Portfolio Health API Module

Third-party vendors offer competitive advantage to companies seeking to extend their business and brand. Along with the benefits, however, come added risks and increased complexity of risk management.

Understanding the financial viability of third parties, be they traditional vendors, business partners, inter-affiliates, or even fourth parties, can help you meet regulatory requirements, maintain operational stability, and increase corporate profitability.

Release history

Last updated: June 2019

Solution summary

Vendor risk professionals rely on RapidRatings Portfolio Health API module to:

• Avoid business disruption and support business continuity initiatives

• Develop risk management strategies across multiple business functions

• Meet compliance requirements and avoid costly fines and penalties

By using RapidRatings with Archer, you can report on all third party information, including profiles, engagements, third party business hierarchy, contacts, facilities, accountable third party contacts, and more within a single repository.

Partner Integration Overview
Archer Solution	Third Party Management
Archer Use Case	Third Party Catalog
Archer Applications	Third Party Profile
Uses Custom Application	No
Requires On-Demand License	No

Partner product configuration

Before you begin 

This section provides instructions for configuring RapidRatings Portfolio Health data with Archer. This document is not intended to suggest optimum installations or configurations.

It is assumed that the reader has both working knowledge of all products involved, and the ability to perform the tasks outlined in this section. Administrators should have access to the product documentation for all products in order to install the required components.

All RapidRatings components must be installed and working prior to the integration. Perform the necessary tests to confirm that this is true before proceeding.

Important: The integration described in this guide is being provided as a reference implementation for evaluation and testing purposes. It may or may not meet the needs and use cases for your organization. If additional customizations or enhancements are needed, it is recommended that customers contact Archer Help for assistance.

RapidRatings configuration

RapidRatings data is retrieved for import into Archer via a customer authored API Client that invokes the RapidRatings API. RapidRatings can provide sample code for a Python script but you are not limited to Python, talk to your technical department as your team could prefer to create on your own script in another format (Java, etc). This script (rri_integrator.py). will write an output file that can then be used with Archer Data Feed Manager (DFM) via the DFM file transporter. The  file will need to be accessible by your Archer server, which means the script can run physically on  the Archer server itself, or it can run on a different machine and output the file to a location that is physically accessible to the Archer server.

Note: Before running the feed it is required to have RapidRatings whitelist the client host IP address of the Archer Server (i.e. the public egress IP for the server running the API client).

For SaaS environments, the output file should be made available either via FTP or HTTP, with the appropriate DFM transporter being used to ingest the file.

The rri_integrator sample script has been tested on Ubuntu 18.04 using Python 3.6, and is provided without warranty or license. It can be downloaded after you have purchased the RapidRatings API connector and have been provisioned to: https://api.rapidratings.com/

The portfolio parameter refers to the portfolio id to be extracted – typically this will be your master portfolio Id. You should contact your RapidRatings account manager/account director for your master portfolio Id details.

The RapidRatings API key and secret are your API client credentials which are needed to authenticate against the RapidRatings API. You should contact your RapidRatings account manager/account director for API credentials if you do not have these.

The file-path parameter is the full path, including the file name, where the extraction will be created. This path needs to exist prior to running the script, and the process running this script needs to have write permissions on the destination folder. If the path does not exist, the script will throw an error.

Configuring CSV output

By default, the output CSV file will contain all available company fields in addition to all ratings and performance indicator fields from the most recent ratings period.

Archer configuration

Adding RapidRatings custom fields

The RapidRatings integration with Archer uses custom fields that are created within the Third Party Profile application and added to the layout. Below is a list of the recommended fields to create and their associated data types:

Field Name	Type
Capital Structure Efficiency	Numeric
CHS	Numeric
Currency	Values List
Earnings Performance	Values List
Exchange	Values List
FHR	Numeric
FHR Delta	Numeric
FHR Report	External Links
Financial Date	Date
Financial Dialog Report	External Links
Full Address	Text
Industrial Classification Code	Text
Industrial Classification System	Values List
Leverage	Values List
Liquidity	Values List
Net Profitability	Numeric
Operating Profitability	Numeric
PD	Numeric
Period	Values List
RapidRatings ID	Text
RapidRatings Sector Classification	Values List
Rating ID	Values List
Reporting Date	Date
Simulated FHR	Numeric
Simulated FHR Delta	Numeric
Year	Values List
Data Feed Key	Text

Once these fields have been created, you may add them to the layout by organizing them into their own section, tab, or other desired layout:

Once you have created the necessary fields, you can configure the Data Feed to import the data from the .csv file written by the RapidRatings integration script.

Configuring the RapidRatings Data Feed

After configuring API Client and custom fields, you are ready to configure the RapidRatings data feed import and data mapping options in Archer.

To configure the data feed, perform the following steps:

1. Browse to Administration > Integration > Data Feeds

2. Click Import and browse to the data feed file: RapidRatings.dx5.

3. On the General tab, ensure that the Target application is Third Party Profile. Set the Data Feed to Active before executing.

4. On the Transport tab, the File Transporter option should be selected. The Path should be set to the physical path of the output of the script file (client_data.csv in this example). The Data Feed Manager must have access to this location whether it is explicitly specified or if relative paths are used.

   Note: If you are using an Archer Hosted environment, you may need to make this file available either via FTP or HTTP. Set the appropriate transporter options and ensure that your Archer instance has access to the required location.

5. Click the Navigation tab and ensure that the Delimited Text File iterator is set as the Navigation Method.

6. Review the settings on the Source Definition tab. If you have customized the output of the sv file, this may need to be updated. 

   Note: The RapidRatings ID is case sensitive and will need to be concatenated with other fields to ensure uniqueness. After creating and implementing the “Data Feed Key” field into the application layout, follow the below instructions:

   1. In the Source Definition Tab, Change the Data Feed Key field type to “Calculated Field”

   2. Click Edit and enter this calculation: =CONCATENATE([RapidRatings ID],[Field],[Field])

   3. The other fields in the calculation may vary to fit your needs

7. Review the mappings on the Data Map tab and make any necessary changes. A list of recommended mappings can be found in Appendix A.

8. Click the Schedule tab to set the scheduling options for the feed. Click Start under the Run Data Feed Now option to execute the feed immediately. The feed should complete without any errors.

RapidRatings company matching and Archer record creation

If you are not using RapidRatings to create net new records within Archer, and instead intend to import RapidRatings data into existing Archer records, the matching process works as follows:

• Retrieve a list of company names and associated RapidRatings IDs (i.e. the RRID field) from RapidRatings.

• Manually enter the RapidRatings ID into the RRID field in Archer for a given company.

• Configure the Data Feed to update only, using the RRID as the key field.

Once the feed is running properly, you will be able to see RapidRatings data on a Third Party Profile record within Archer.

Clicking the FHR Report or Financial Dialogue Report links will redirect to the RapidRatings Portal to directly retrieve the associated report after authenticating the user.

Certification environment

Date tested: June 2019

Product Name	Version Information	Opertating System
Archer GRC	6.5	Windows 2016
RapidRatings	Sept 2018	SaaS

Data Feed mappings

Presented below is a list of sample mappings for the RapidRatings Feed that are contained in the provided DFX file.

Source Fields	Target Fields
Address	Full Address
Capital Structure Efficiency	Capital Structure Efficiency
CHS	CHS
Country	Country
Currency	Currency
EarningsPerformance	Earnings Performance
Exchange	Exchange
FHR	FHR
FHR Delta	FHR Delta
FHR Report Link	FHR Report\Name
Financial Date	Financial Date
Financial Dialog Link	Financial Dialogue Report\Name
Industrial Classification Code	Industrial Classification Code
Industrial Classification System	Industrial Classification System
Leverage	Leverage
Liquidity	Liquidity
Net Profitability	Net Profitability
Operating Profitability	Operating Profitability
PD	EPD
Period	Period
Rapid Ratings Sector Classification	RapidRatings Sector Classification
Rating ID	Rating ID
Reporting Date	Reporting Date
RRID	RapidRatings ID
Simulated FHR	Simulated FHR
Simulated FHR Delta	Simulated FHR Delta
Ticker	Ticker Symbol
URL for FHR Report for company	FHR Report\url
URL for Financial Dialog Report for company	Financial Dialogue Report\url
Year	Year
Data Feed Key	Data Feed Key***

***Key Field Definition