Avoiding The Regulator's Red Flag On Outsourcing
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Overview: The subject of outsourcing is a key focus for the financial industry. When implemented properly, outsourcing has proven its potential for lower costs and increased flexibility. Outsourcing can be an extremely effective means of reducing costs while at the same time maintaining - or even improving - standards of service. Regulators are increasingly recognizing the risks of outsourcing and will take action to protect customers. The primary requirement from a regulatory and corporate governance perspective is a strong risk control framework throughout the lifecycle of the outsourcing.