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Case Study: Assessing Outsourcing Risk at Erste Bank

Source: Mash Risk Television

Erste Bank
Markus Rossmiller, Head of Group Op Risk Control

Runtime: 4:34

Key Takeaways:

  1. Erste Bank has a strong retail banking presence in Central Europe. It is listed on the stock exchanges of Vienna, Prague and Bucharest and has more than 52,000 employees.
  2. The Op Risk function views the outsourcing risk assessment process in four distinct steps:
    • Business Plan (Op Risk Review is provided)
    • Invitation to Tender (Op Risk Review is provided)
    • Vendor Selection & Negotiation (Op Risk is actively involved in the selection process)
    • Monitoring (Op Risk helps define key risk indicators)
  3. Key outsourcing lessons learned:
    • Keep the entire outsourcing risk assessment simple. Just having Op Risk involved can be a big step forward.
    • Ensure that the outsourcing process owner brings Op Risk into the process as early as possible.

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