Outsourcing and Third Party Risk Management Online Course
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60 Minutes -
For all staff
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UK
Regulators have tightened expectations on outsourcing, and the rules now reach further into the supply chain than many firms assume. This 60-minute course helps staff identify when an arrangement counts as outsourcing, recognise critical and important functions, establish governance with retained accountability, and get the written agreement right.
Outsourcing transfers activity, never responsibility. When a supplier fails, the regulator looks at the firm that appointed them. This course gives procurement, operations and compliance a shared vocabulary for assessing arrangements before they are signed, which is a far cheaper place to find a problem than a post-incident review, and it makes supplier oversight something the business does rather than something it documents.
What you’ll learn in
this course
- Identify when an arrangement might be considered to be outsourcing
- Identify and manage risks arising from third parties
- Recognise the regulators' high-level expectations
- Identify critical and important functions
- Establish good governance and retained accountability
- Put in place a written agreement
- Know when to notify the regulators about material outsourcing