The Outsourcing Lifecycle – RFSP Obligations under the CBI’s Cross Industry Guidance on Outsourcing
The Outsourcing Lifecycle –
RFSP Obligations under the CBI’s Cross Industry Guidance on Outsourcing
Tuesday, 13 September
13:00 - 14:00
1 hour LCI, FCI (Compliance), Professional Banker, Chartered Banker Certified Bank Director, Certified Investment Fund Director, Personal Insolvency Practitioner,
€25 for members, €35 for non-members
In its “Cross-Industry Guidance on Outsourcing” (Guidance) published December 2021 , the Central Bank notes that it is strongly focused on Outsourcing due to its increasing prevalence across the financial services sector and its potential, if not effectively managed, to threaten the operational resilience of Regulated Financial Service Providers (RFSPs).
The Central Bank has undertaken a significant programme of activity on outsourcing over the last number of years to ensure that Boards of RFSPs do not seek to rely on either third-party providers or group companies to the point where they are inadvertently delegating accountability to those entities. On this basis, the Central Bank seeks to ensure that accountability and responsibility ultimately remains with the Board and that certain processes and principles are followed to mitigate outsourcing risks. Compliance professionals will be required to help the Board understand and implement the Guidance.
The Webinar will provide an overview of what firm’s need to do to comply with the expectations of the CBI as set out under 10 headings within the Guidance, addressing each stage of the outsourcing lifecycle. We will also be discussing recent lessons learned and the level of regulatory scrutiny which firms can expect.
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Partner, EisnerAmper Ireland and member of Compliance Institute's Funds Working Group
As Partner in EisnerAmper Ireland’s Governance, Risk & Compliance Group, Carina advises financial services providers on risk, regulatory and compliance-related matters.?Carina supports clients throughout the regulatory engagement lifecycle and specialises in the design and implementation of risk and compliance frameworks. Carina provides outsourced solutions to operationalise risk and compliance functions thereby providing both insight and bandwidth to PCF role holders. Carina leads the EisnerAmper ESG solutions and has recently been a key note speaker at the Insurance Ireland INED Council Forum on the topic of ESG. Carina has?over 20 years’?experience of designing and developing?risk,?compliance and?control?frameworks; leading regulatory?change?programs such as AIFMD and GDPR; and leading large scale business transformation programs across EMEA & India.
Partner | Financial Services | LK Shields
David specialises in financial services law. He primarily advises on the authorisation, launch and ongoing operation of all types of investment funds across the liquidity spectrum. David regularly advises asset managers on the laws and regulations applicable to both UCITS and AIF investment funds domiciled in Ireland, with a particular focus on the application of AIFMD, the use of the Irish Collective Asset-management Vehicle (ICAV) and the regulation of fund management companies in Ireland. He also provides general investment management support and advice on the regulatory obligations that asset managers contend with. His notable achievements include the delivery of the first ICAV authorised by the Central Bank of Ireland as both an alternative investment fund and as an internally-managed alternative investment fund manager.