Outsourcing in Financial Services - Dublin - 22/02/2018
The Training Environment For Financial Services

Outsourcing in Financial Services - Dublin

22 Feb 2018, Dublin

9:30am to 4:30pm

Course Outline & Objectives

This focused workshop will help financial services organisations identify and apply best practice in the governance and management of outsourcing arrangements and understand and satisfy the Central Bank of Ireland’s expectations in this area of high regulatory risk.

Specifically, attending will help you:

  • Understand the CBoI’s 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 and design a risk based control framework
  • Develop and use timely, appropriate and meaningful MI
  • Demonstrate robust governance and monitoring to the regulator
  • Understand how your governance framework should be adapted for intra-group arrangements
  • Develop resilient exit plans
  • Anticipate and manage risks at contract termination

Who will benefit

This course will be of value 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, Risk and Relationship Management specialists in firms that use or may be about to use outsourced services.

Training Approach

This workshop uses a combination of trainer input, interactive syndicate work and case studies. Group size is kept to a maximum of 16 to ensure the quality of learning and facilitate sharing of experience among the trainer and delegates.

Course Leader

Eithne McManus is a consultant who specialises in assisting financial services companies with enterprise-wide risk management in general and outsourcing arrangements in particular. She is a Chartered Enterprise Risk Actuary, with over 20 years’ experience in the field of risk management, and holds a BA in Mathematical Sciences from Trinity College Dublin.  Eithne spent much of her career with Irish Life, initially in Dublin where she qualified as an actuary, and later in the UK.  In her role as Chief Executive of CWA (Irish Life UK’s subsidiary), she had direct responsibility for the governance and risk management of CWA’s material outsourcing arrangements, including the initiation and termination of the main administration outsourcing and the oversight of the firm’s intra-group outsourcing arrangements.  Since leaving CWA, she has focussed on risk management and outsourcing consultancy.  She is also a non-executive director of two insurance companies.

Course Programme

Session Aim Content
Outsourcing in financial services: the business and regulatory environment

To understand why financial services organisations outsource and what the regulator expects of the regulated firm and the service provider
  • Key business drivers for outsourcing
  • Overview of regulatory requirements for the governance and monitoring of material outsourcing arrangements
  • Assessing materiality of outsourcing arrangements
New outsourcing arrangements  - contract initiation To understand the risks around the initiation of outsourcing arrangements and to explore some techniques to control these risks
  • Techniques for carrying out due diligence in advance of entering into outsourcing contracts
  • Risk management of the contract process
  • Transition issues
Risk management of outsourcing arrangements To explore techniques for the identification of outsourcing risks and their control
  • Identification of outsourcing risks
  • Identification and ownership of controls
  • Case Study: designing effective controls in financial services outsourcing
Governance frameworks and relationship management To understand techniques for managing outsourcing arrangements and to develop tools to enable this management to be evidenced
  • Typical lifecycle of an outsourcing arrangement
  • Evidencing good monitoring and management to the regulator
  • Oversight of intra-group outsourcing arrangements
  • Change management and change control
Management Information and SLAs To understand why outsourcing can affect MI requirements and to explore appropriate MI for an outsourcing arrangement
  • The importance of management information (MI) in the oversight of material outsourcing arrangements
  • The limitations of SLA based MI
  • Case Study: the design and use of appropriate MI
Contract termination To understand the particular risks around the termination of outsourcing arrangements and to identify control strategies to address these risks
  • Exit planning
  • Reasons for contract termination and how these can impact exit plans
  • Mitigation of exit risks

This course can be delivered in-house at a time and location to suit your business and tailored to suit your people and organisation. We can also create bespoke training when something very specific is needed.Please contact us to discuss your requirements in more detail and at no obligation.

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