Live discussion: Cut through the complexities of PRA outsourcing rules
Join this webinar to help you comply with the new PRA outsourcing and third-party risk guidelines, from managing the process effectively to future-proofing against potential changes.
UK banks, financial institutions and PRA-designated investment firms have been battling to implement new guidelines set by the European Banking Authority (EBA) around reviewing and updating outsourcing contracts. In the UK, the Prudential Regulation Authority (PRA) has applied its own supervisory statement, yet many procurement teams are still struggling with a lack of clarity over the guidelines.
It is vital to be well equipped to implement contingency or continuity plans and to be clear on what arrangements you need to include in your outsourcing contracts to achieve compliance.
Join this webinar, produced in partnership with Ivalua, for advice and guidance and to learn more about:
what the new PRA guidelines are, how they differ from the EBA regulations, how they might evolve and what they mean for procurement professionals
how procurement teams can ensure they meet the new requirements and manage the process effectively
how technology can help overcome the complexities and future-proof your organisation against future changes
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Yvonne leads Pinsent Masons’ Financial services technology practice. She specialises in advising on technology contracts, including outsourcing and IT procurement. Yvonne also leads the firm’s FinTech practice and is recognised by the market as a leading individual advising established financial services companies and fintech start-ups on projects which combine technology and the regulatory environment in which our financial services clients operate. She leads several of the firm’s TMT and outsourcing relationships with major banking and insurance clients and regularly speaks and writes on TMT and outsourcing issues specific to the financial services sector, including regulatory outsourcing issues. Yvonne is also on the board of Fintech Scotland, contributing to the strategy and future direction of that organisation.
Priscilla is a Managing Associate in Addleshaw Goddard’s Commercial, Technology & Outsourcing team and described as a "stand out associate" in Legal 500 2021. She specialises in advising on outsourcing, technology and commercial contracts, including large scale IT and outsourcing arrangements, SaaS contracts and software development and licensing agreements. Priscilla has particular experience of advising clients on outsourcing and third party contracts in the financial services sector, advising a range of banks and building societies on their business critical third party arrangements, including a top 10 building society on their remediation project for compliance with the EBA Guidelines on outsourcing arrangements and PRA SS2/21 for over 18 months. Priscilla has also developed products such as Addleshaw Goddard’s 'EBA Ready', a tech-enabled tool, to assist financial services firms with complying with the EBA Guidelines on outsourcing arrangements and PRA supervisory statement on outsourcing and third party risk management
Lizzie Gilbert is a Senior Associate in the Bank of England’s Prudential Policy Directorate. Over the past two years, she has worked on the PRA’s policy on outsourcing and third-party risk management, with a focus on technologies such as cloud. She co-authored the final policy on outsourcing and third-party risk management and represents the PRA at the IAIS task force on operational resilience.