The Training Environment For Financial Services

Outsourcing in Financial Services

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Course Outline & Objectives

Financial services organisations institute outsourcing arrangements for a variety of objectives: cost savings, process improvement, restructuring, access to specialist services or technology. In order to achieve any of these objectives, and mitigate the regulatory and operational risks also associated with outsourcing, it is vital firms develop and maintain an effective governance and risk management framework, particularly in light of recent FCA thematic reviews. This focused workshop will help firms and  identify and apply best practice in the governance and management of outsourcing arrangements and understand and satisfy PRA / FCA expectations in this area of high regulatory risk. 

Specifically, attending this course will help you to:

  • Understand the regulators' expectations of your firm at all stages of the outsourcing lifecycle 
  • Employ risk mitigation techniques at due diligence and contract initiation 
  • Carry out effective risk identification and scoring 
  • Design a risk based control framework 
  • Develop and use timely, appropriate and meaningful MI, including Key Risk and Key Control indicators 
  • Demonstrate robust governance and monitoring to the regulators
  • Develop resilient exit plans 
  • Anticipate and manage risks at contract termination 

Who will benefit

This course will be of immediate and ongoing benefit to financial services professionals new to Outsourcing management, experienced Outsourcing managers from other industries, individuals from outsourcing service providers who need to understand the regulatory environment, as well as Compliance, Audit or Risk Management specialists in firms that use or may be about to use outsourced services.

Course Programme

Topics covered may include but are not limited to:

  • Outsourcing in financial services: the business and regulatory environment
  • New outsourcing arrangements  - contract initiation
  • Risk management of outsourcing arrangements
  • Governance frameworks and relationship management
  • Management Information and SLAs
  • Contract termination
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