Address- Provide input and aid in the development of policies focused on the managing risks involved with third party business processes including Outsourcing arrangements
- Review and maintain the Outsourcing Governance Guide to ensure that outsourcing governance frameworks and requirements are relevant, current and effective
- Perform outsourcing risk reviews to evaluate risks associated with outsourcing arrangements and assess service providers' ability to employ high standard of care in performing the outsourced services
- Conduct third party risk assessments (including Outsourcing arrangements) in alignment with Banks policies, Industry standards and Regulatory Requirements
- Perform on site / off site assessments (Thematic Reviews) of vendors to identify opportunities for improvement
- Liaison with stakeholders (owner units of outsourcing activities) and key SMEs (Financial Crime & Security Services, Information Security Services, Group Business Continuity Management, Risk Management Group, Compliance) on risk and control matters including ad-hoc projects
- Work with service delivery managers to ensure compliance to outsourcing governance requirements
- Prioritise and implement system enhancements to support new outsourcing governance requirements and continuously improve existing system functions/ controls.
- Review and Challenge control monitoring plans, performing monitor activities and analysis of evidence to determine controls are operating effectively
- Monitor and report bank-wide outsourcing risks in periodic outsourcing risk forums
- Responsible for regulatory submissions and periodic updates to Board and Senior Management
