Outsourcing allows an institution to offer its customers enhanced services without the various expenses involved in owning the required technology or maintaining the human capital required to deploy and operate it. In many situations, outsourcing offers the institution a cost effective alternative to in-house capabilities. Outsourcing, however, does not reduce the fundamental risks associated with information technology or the business lines that use it.
Financial institutions should have a comprehensive outsourcing risk management process to govern their technology service provider (TSP) relationships. The process should include risk assessment, selection of service providers, contract review, and monitoring of service providers. Outsourced relationships should be subject to the same risk management, security, privacy, and other policies that would be expected if the financial institution were conducting the activities in-house.
The Knowledge Group is producing a LIVE webcast that will explore the issues and concerns surrounding this topic. Advanced registration is recommended as enrolment is limited for this course.
This is a must-attend event for anyone interested in Vendor Management
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A
Mayer Brown partner Rebecca Eisner will be a featured speaker for the program.
Registration - Click here for additional information or to register for this program.