Course description
Financial services institutions enter into outsourcing arrangments for a variety of purposes, including: costs savings; streamlining; process improvements; restructuring; and to gain access to specialist services or technology. To achieve any of these objectives whilst also mitigating the resultant regulatory concerns and operational risk, firms must develop and maintain an effective outsourcing governance and risk management framework.
The UK PRA rulebook defines ‘outsourcing’ as ‘an arrangement of any form between a firm and a service provider, whether a supervised entity or not, by which that service provider performs a process, a service or an activity, whether directly or by sub-outsourcing, which would otherwise be undertaken by the firm itself’.
This course will help you to identify and apply best practice in the governance and management of outsourcing arrangements and understand regulatory expectations in this area of high regulatory focus.
Upcoming start dates
Suitability - Who should attend?
The course will benefit financial services professionals involved in outsourcing in any capacity, including those new to outsourcing management, experienced outsourcing managers from other industries, individuals from outsourcing service providers who need to understand the regulatory environments, as well as Compliance, Audit and Risk management specialists in firms that use or may be about to use outsourced services.
Outcome / Qualification etc.
Following the course, a certificate of attendance will be provided to demonstrate their CPD activity to a professional body.
Training Course Content
Attending this course will help you to:
- Understand the regulator’s concerns and expectations
- Create robust governance arrangements and monitoring
- Develop, improve and maintain a written outsourcing policy
- Perform appropiate due diligence on all potential service providers
- Assess the potential risks of third pary arrangements, including outsourcing
- Understand the key considerations when documenting outsourcing arrangements
- Understand data security expectations
- Determine access, audit and information rights
- Ensure business continuity and exit plans
- Understand the elephant in the room – operational resilience
Course delivery details
This course will be delivered via Zoom over 2 half-days.
Reviews
Average rating 4.7
Eithne is highly knowledgeable and has a great delivery style. Very interesting
Very enjoyable and interesting with good participant engagement
The course was what I was looking for. It was delivered by someone who clearly had knowledge on the subject, presented in a way which easy to understand and that will prove use...