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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:
- 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.
- 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)
- 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.