Client Assets

Third Party Oversight and Best Practices - Online Workshop

Course Information

  • Location: Online
  • Led By: Zakir Karim
  • Type: Online Workshop
  • Level: Practitioner

About this Online Workshop

Regardless of any delegation of CASS functions to third parties (offshored or outsourced), the firm remains absolutely responsible for their continued compliance with the rules. In order to mitigate any risk of non-compliance by the firm due to some action/inaction of the third party to whom functions have been delegated, the firm must have in place an effective oversight framework which enables the firm to assess and monitor the third party. This training aims to provide participants with a practical guide to oversight of third parties best practice through worked examples, templates, break-out sessions and case studies.

This workshop will be delivered online via Zoom.

Learning outcomes:

  • Highlight to participants that whilst regulatory functions can be delegated to third parties; responsibility for them cannot be abdicated
  • Practical guidance on
    • Ensuring CASS Compliance where operational functionality offshored / outsourced and firm has no real visibility
    • Choosing a 3rd party and the importance of CASS due diligence
    • 3rd party oversight best practice
    • Managing 3rd parties – enforcing Service Level Agreements
    • Developing Key Performance Indicators

Agenda:

  • Oversight and Governance - how it relates back to FCA business plan 2019/20 - Reiteration of the FCA's reminder that "regulated activities can be delegated but not abdicated".
  • Where firms delegate CASS-related functions via outsourcing / offshoring, they continue to be fully responsible for the firm's compliance with the CASS rules
  • The difference between offshoring and outsourcing
  • Consider how well "offshore" - many of the third parties to whom a firm may delegate their CASS related functions will not be regulated for the purposes of CASS
  • Initial and repeat periodic CASS due diligence that assesses the third party's knowledge, capability and skillset around CASS, as well as its systems and controls
  • Need for detail Service Level Agreements (SLAs) which take into account how service would, if at all, continue to be provided in a liquidation situation.
  • Enforceability of SLAs
  • Development and monitoring of Key Performance Indicators (KPIs)
  • Weekly / monthly management information dashboard
  • CASS Resolution Pack - build in as a requirement of SLA - availability / accessibility of information at third party
  • Participation / co-operation of third parties in annual CASS audit
  • Aviva £8.2 million fine - Case Study

Who should attend:

  • Professionals involved with TPA oversight
  • Heads of CASS Oversight
  • Heads of Compliance
  • CASS related functions:
    • Operations (Settlements, Reconciliations)
    • Treasury
    • Client On-Boarding
    • Legal
    • Finance 

Benefits of attending:

  • Understand the various risk involved with third parties
  • Make critical decisions around when to use third parties
  • Learn how to embed an effective oversight framework 
  • Navigate market complexity
  • Improve CASS compliance 
  • Acquire new tools, techniques, methods
  • Improve confidence through peer networking 

Choose this course when:

  • Considering third party outsourcing
  • Improving processes, systems and technology
  • Developing learnt responses to critical situations
  • Wanting to improve knowledge & awareness around third party oversight
  • Developing desired behaviours within culture
  • Looking to develop Key Performance Indicators (KPIs)


Third Party Oversight and Best Practice


Specific learning requirement?

Request a course

About the instructor

Zakir Karim

After qualifying as a Chartered Accountant, Zak moved into the space of CASS advisory, with his most prominent engagement being a CASS s166 at a Tier-1 bank. Having refined his skillset and experience, Zak founded Karim Consultancy, a firm specialising in CASS.

Amongst Zak’s experience and client base are two of the Big 4, Tier-1 banks and leading Asset Management firms. Beyond CASS, Zak has managed a number of advisory engagements including a SYSC8 review; an assessment of Governance & Culture; a Board Effectiveness Review; and a Bank of England Stress Testing review.

In-House Courses

Our courses can be delivered in-house and made bespoke to your company, business model, products and language. As your learning partner, we can help you every step of the way from engaging with multiple stakeholders and carrying out a learning needs analysis to confirming desired outcomes, solution design and delivery.

Learn more

Request More Information

If you’d like to receive more information about this course or discuss how it could be delivered in-house and made bespoke to your organisation's requirements, fill in your details below.

Get in touch

Kieran_Maplesden

Kieran Maplesden
Managing Director


0203 800 1099
kieran.maplesden@thefourthline.co.uk

Fahim Miah

Fahim Miah
Head of Learning Solutions


0203 854 0591
fahim.miah@thefourthline.co.uk