Assess material IT outsourcing risk before the award

Before a material IT service is awarded, compare its criticality, data flows, subcontractors, controls and exit plan with the outsourcing policy and RBI requirements. Vendor Risk can bring security, supplier and legal exceptions to the business owner for an accountable award decision.

What this SOP does

Before a material IT service is awarded, the bank compares the service's criticality, data flows, subcontractors, controls and proposed exit plan with its outsourcing policy and RBI requirements, and brings security, business and legal exceptions to an accountable award decision.

People in the process

VVendor RiskProcess Owner
BBusiness OwnerParticipating Team
TTechnologyParticipating Team
PProcurementParticipating Team
LLegalParticipating Team

The process is a starting point. The standards are yours.

Configure for the bank or lender’s category, permissions and applicable RBI directions. Outsourcing, customer conduct, recovery and reporting controls use the institution’s approved interpretation and delegated authority.

Keep the work connected.

Vendor Risk

Exit a critical supplier only once every dependency is handed over

When replacing a critical supplier, trace data return, access removal, contract obligations and the substitute provider's readiness against the contract and continuity plan. Vendor Risk and Technology can complete the switchover and remove supplier access only when every dependency has a named owner.

TSL

Legal Recoveries

Choose SARFAESI, DRT or IBC from one enforcement file

When a loan defaults, bring the loan history, executed documents, security, certified statement of account, valuations and disputes into one account file. Legal Recoveries can confirm enforceability and limitation, and the recovery committee can choose the route before any notice issues.

CCRR

Legal Disputes

Defend borrower lawsuits from one approved fact record

When a borrower sues or escalates, reconcile signed terms, account statements, complaint history, notices and staff accounts into one approved fact record. Legal Disputes can track every filing deadline and counsel can plead consistent positions across consumer, civil and DRT forums.

OCE

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Order for the work. Room for the people.