Outsourcing Risk and Compliance Solutions

Outsourcing is a key component of financial services firms’ operating models to leverage latest technology, innovations, delivery models, scalability, efficiencies and just to remain relevant and competitive.

However, managing the inherent outsourcing risks and meeting stringent outsourcing regulatory requirements are an essential part of good governance and sustainability.

The Risk Remains Internal

A data breach or software attack, whoever’s fault, has a catastrophic impact on customer trust and could be existential for the firm.

Firms rely on a plethora of 3rd parties from cloud providers to software vendors and from payment providers to Fin Tech's; all with degrees of inter connectivity, data sharing and dependency. But the risk remains internal.

Navigating the Complexity

The risk aside, outsourcing regulation alone is complex so getting the balance right, between the desire for “proportionate" risk management and the need to meet regulations is difficult.  Regulators have an increased focus on outsourcing arrangements and expect you to demonstrably meet their detailed requirements. 

Our Expert Design & Execution

We have brought together industry experts in InfoSec, Banking Operations, Open Banking, Resilience and Regulations to design and build a set of tools that help you accelerate your outsourcing risk management program and your regulatory audit preparedness.

Our Solution

We have specific solutions to accelerate our clients outsourcing governance regime to improve the management of risk and compliance.  We assess and where there is a need we bring solutions to enhance your maturity and enable you to operate in a more regulatory compliant way.

Outcome Driven Operations

What if you bought services based on the outcomes they deliver, rather than for the underlying machinery that makes them work? For starters, you would be able to focus more on what matters: results. That’s where “as-a-service” capabilities shine. It’s also where our analytics capabilities can make a big difference

Does this resonate?

Are you confident you are minimizing your exposure to outsourced risk?

Are you in control and managing your suppliers in a robust and compliant why?

Can you demonstrate you operate compliantly to your auditor and regulator?

If this is resonating with you, we would be pleased to have a conversation. For more information on these and other solutions:

Financial Services Team Contact: brian.taylor@envorso.com  Or info@envorso.com