The future of Outsourcing Arrangements
FCG recently launched FCG Oasys, a brand new system for active management of service providers, contracts and outsourcing arrangements, specifically designed for regulated entities in the financial sector. FCG is now adding its regulatory expertise offering a complete solution for outsourcing management.
Co-sourcing
A solution where the company delegates tasks regarding outsourcing to FCG. Through co-sourcing FCG supports the company in managing and controlling risks related to outsourcing activities and reviewing outsourcing arrangements documentation.
Implementation and GAP-analysis
- GAP-analysis and implementation of governance framework on outsourcing.
- Initial review and classification of outsourcing arrangements and service provider contracts.
- Oasys system technical set up, e.g:
o User access and user rights
o Single Sign On
o Customization
o Software-as-a-Service
The Oasys system
A system specifically designed for regulated entities within the financial sector, e.g. fully compliant with the EBA Guidelines on outsourcing arrangements. All details of each outsourcing arrangement are readily available to key stakeholders, such as business owners, compliance, risk functions and auditors, to ensure well informed decisions.
FCC Outsourcing Management
CO-SOURCING
- Control activities
- Monitoring and overseeing risks related to
- Continuous regulatory support and advice
- Annual report to the outsourcing function
OASYS SYSTEM
- On-going technical administration and system development - Service and support
