• Course
    Managing The Risks of Outsourcing in Financial Services (1910ROO)
  • Dates
    14 May 20 - 09:30
    8 October 20 - 09:30
  • Venue
    City Of London
  • Course Fees (excl. VAT)
    Multiple Booking £625.50
    Single Booking £695.00
  • CPD Credits
    6

Total Price: £625.50

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Get this course in-house
Or call 0203 178 4230
or email info@fstp.co.uk today.

Course Overview

Outsourcing can cut costs and improve the quality of non-core functions. But it can also transfer risk beyond your control.

Hidden fees, vendor solvency and data security are just some of the most common problems. Service providers may also have governance issues, landing you in hot water with the regulator.
The FCA considers your firm accountable. Though the work may be outsourced, regulatory responsibilities remain firmly in-house.
Introducing the right processes is an essential part of managing third-party risk. From Service Level Agreements (SLAs) to termination contracts, the right documentation will safeguard your business and demonstrate best practice to the regulator.
So join us for this one-day training course. We’ll work through the outsourcing cycle, helping you develop the controls and contingency plans required to protect your firm:
  • Understand the regulator’s expectations (of your company and the service provider)
  • Set practical and workable SLAs
  • Introduce standards of best practice
  • Identify the common risks of outsourcing
  • Focus on risk management and contingency planning
  • Easily evidence management controls to the regulator
  • Exit planning and contract termination

Mitigate outsourcing risk, without losing the benefits

Outsourcing arrangements can become complex. But proper management of third-party services can slash your internal operating costs and boost efficiency. This course helps you get the right systems and processes in place to take full advantage
Maximise the benefit of outsourcing – Gain a greater appreciation for the importance of watertight documentation that’s linked to outcomes. By tying incentives to performance you’ll get the best possible result from outsourcing.
Draw up resilient contingency plans – It’s essential to prepare for worst-case scenarios. You’ll gather concrete examples from case studies to better understand the contingency plans you (and the provider) need to avoid business disruption.
Develop processes that promote quality – A strong outsourcing framework will let you monitor the performance of service providers at every stage of the job. You’ll demonstrate your strength of oversight to the regulator, while ensuring quality.
Establish trusted, transparent relationships – Become better at communicating your expectations to service providers. If you’re both on the same page, you’ll be able to evidence good management to the regulator and enjoy better working relationships.

The Course Agenda

An introduction to outsourcing
  • Understanding the key business drivers
  • An overview of regulatory requirements for control and monitoring
  • Assessing the materiality of arrangements
New arrangements and service level agreements (SLAs)
  • Identifying the regulatory requirements for new contracts
  • The importance of SLAs and common pitfalls when drawing them up
  • Exercise: Designing an appropriate SLA framework
Governance frameworks and good relationship management
  • How to evidence good monitoring and management to the regulator
  • The role of Management Information in ensuring quality of service
  • Developing outsourcing policies
  • How to approach multiple outsourcing arrangements
  • Intergroup outsourcing
Managing risk in outsourcing arrangements
  • Identifying outsourcing risks
  • Understanding controls and how the environment differs for outsourcing arrangements
  • Special considerations for offshore arrangements
  • Case study exercise: Designing effective controls
Successful termination of contracts
  • Meeting regulatory requirements for contract termination
  • The importance of exit planning
  • How to mitigate risk during the exit process

Download PDF
Get this course in-house

Or call 0203 178 4230 or email info@fstp.co.uk today.

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Meet The Tutor

Stephen Fairclough
Stephen Fairclough
Associate
[Read about...]

Who is this course for?

This practical one-day event is perfect for:

  • Professionals in outsourcing management
  • Outsourcing providers in need of regulatory knowledge
  • Compliance, audit and risk teams

 

'This training helped me understand better how to approach vulnerability and will be useful to design training courses internally.'

Head of Personal Loans
Finance and Leasing Firm

'An extremely useful event, with good examples that I can use to drive improvement. Very professionally delivered at a pace that was easy to follow.'

Head of Contracts

Alternative Investment Firm

 

Training that makes a difference

Experienced engaging trainers

With first hand industry knowledge and an intimate understanding of the regulatory environment, we always guide you with an expert (and friendly) hand.

Packed with relevant information

We know you’re busy, so we’re careful not to waste a minute of your time. Our training courses are fast paced, insightful and filled with valuable information.

Get personalised attention

Sessions are practical workshops not PowerPoint lectures. All courses are limited to no more than 14 attendees, so we’re able to explain concepts in the context of your business.

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