The outsourcing of activities and processes has been a common practice in financial institutions for years. The management of outsourcing is becoming increasingly important because of the increased attention of the supervisory authorities.
Key Project Experience
- We helped a large German Landesbank with an overhaul of its methods, roles and responsibilities as well as the corresponding processes concerning outsourcing activities. We formulated a bank-wide outsourcing strategy and set up an outsourcing risk analysis. In addition, we implemented a process-integrated tool to control the institute’s ongoing outsourcing contracts.
- Driven by tighter ECB requirements, we analysed the procedures and instruments used to manage the existing outsourcing relationships of a German D-SIB. As part of the project we set up a vendor risk management system and implemented a corresponding tool tailored to the additional requirements of the client’s foreign branches. Our solution ensures compliance on a group level and helps our client to manage respective risks.
C: Christof Born
D: +49 (0) 170 78 83 294