In tandem with the publication of a number of policy documents relating to Operational Resilience, the PRA released its Policy Statement (PS 7 21 and Supervisory Statement (SS 2 21 for Outsourcing Third-Party Risk Management (O&TPRM) on March 29 2021.
Giving PRA regulated firms a one year implementation period to 31 March 2022 the PRA set out expectations across a number of areas, ranging from the pre-outsourcing phase to ensuring firms maintain an appropriate exit strategy for material outsourcing arrangements O&TPRM.
FourthLine has designed a Workshop specifically for in-scope Insurance firms to work through the new requirements relating to Outsourcing & Third-Party Risk Management, how the new policy statement will impact their business and how to go about planning the implementation of the new requirements.
Learning Outcomes
This 90-minute session will be tailored to your company's specific requirements and focus on dual-regulated Insurance firms. One of our Outsourcing & Third-Party Risk Management subject matter experts will cover the following areas:
Who Should Attend?
We suggest 6 to 8 staff members attend this workshop.
This workshop will be of benefit to anyone who is likely to be affected by the challenges in managing Outsourcing & Third-Party Risks, including Board members, senior management, legal, compliance and those employees at the coalface.
Board Briefing and Style
Bespoke workshops are participative and interactive. The presentation will combine key formal presentations, case studies and syndicate discussion sessions. There will be an opportunity for attendees to benchmark experiences with their colleagues and raise issues of most concern to their organisation, either confidentially or in open session.
