Manage vendor outages from one verified incident timeline

When an outsourced service fails, link the incident facts to affected customers, the continuity plan and the vendor's contractual notices and root-cause report. Information Security and Compliance can decide any regulatory report while Customer Operations remediates affected customers on the same timeline.

What this SOP does

When an outsourced service is disrupted, the bank links the incident facts to customer impact, continuity plans and supplier contract notices, so security, business and compliance owners decide customer remediation and any regulatory report on one verified timeline.

People in the process

OOperational RiskProcess Owner
TTechnologyParticipating Team
CCustomer OperationsParticipating Team
VVendor ManagementParticipating Team
IInformation SecurityParticipating Team
CComplianceParticipating 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.

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

Recoveries

Release security only after the settlement is fully paid

Track each one-time settlement instalment against the sanctioned amount, schedule and conditions before closing the loan account. Recoveries can withdraw pending cases, release security, return original documents and issue the no-dues certificate only once every term is met.

FLC

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