Managing the regulatory risks of outsourcing

Managing the regulatory risks of outsourcing

Showing the regulators that you have robust controls over your business operations has never been more important. And when those operations are outsourced to a third party, managing regulatory risk can be a challenge.

Under SMCR, the options for enforcement are greater and responsibility for compliance no longer sits just with the compliance function. CTOs, COOs and other 'certified' roles are personally accountable for their management of third party relationships. If these individuals do not understand their responsibilities or are not prepared to undertake them, the whole firm is at risk. And in 2021 scrutiny is bound to grow, as regulators return to the topic of operational resilience with increased urgency.

In this briefing, we'll look at how to build compliant - and efficient - frameworks to manage the inherent risks that outsourcing brings. With a particular focus on outsourcing policies and controls around operational outsourcing, for example CASS and transaction reporting, we’ll explain the regulatory requirements and look at practical ways to make sure you're on track.

Thursday 3rd December: 10am – 11am

If you would like more information about this topic or to request the materials from the event please get in touch