Third-Party and Outsourcing Risk in Central Banking Training Course

Introduction
As central banks increasingly rely on external vendors for IT infrastructure, data services, payment systems, and facility management, managing third-party and outsourcing risk has become a strategic imperative. The Third-Party and Outsourcing Risk in Central Banking Training Course is designed to help institutions develop comprehensive risk management frameworks that ensure resilience, regulatory compliance, and the integrity of core functions. This course focuses on identifying, assessing, monitoring, and mitigating the wide-ranging risks associated with outsourced services and third-party dependencies in a central banking context.

Delivered over five intensive days, this training equips participants with practical tools and international best practices for managing vendor risk across the lifecycle of third-party relationships. Participants will explore governance models, due diligence processes, performance and compliance monitoring, exit strategies, and regulatory expectations. Through real-world case studies, policy frameworks, and practical exercises, central bank professionals will build the capacity to safeguard critical operations, data security, and institutional reputation in outsourced environments.

Duration: 5 days

Target Audience:

  • Central bank procurement and vendor management teams
  • Operational risk and compliance officers
  • IT and cybersecurity managers
  • Legal, audit, and governance professionals
  • Departmental heads with outsourced or third-party services

Course Objectives:

  • Understand the full scope of third-party and outsourcing risks for central banks
  • Design and implement risk management frameworks for vendor relationships
  • Conduct effective due diligence and contract risk assessments
  • Monitor third-party performance and regulatory compliance
  • Develop robust contingency and exit strategies for critical outsourced services

Course Modules

  1. Introduction to Third-Party and Outsourcing Risk
  • Defining third-party and outsourcing arrangements in central banks
  • Common risk categories: operational, legal, reputational, and financial
  • The strategic and regulatory relevance of outsourcing risk
  • Key lessons from global central banking experiences
  • Evolving supervisory expectations and resilience imperatives
  1. Governance and Policy Frameworks for Outsourcing
  • Building internal outsourcing risk management policies
  • Establishing roles, responsibilities, and oversight structures
  • Board and senior management accountability
  • Policy alignment with strategic, legal, and risk mandates
  • Integrating outsourcing risk into enterprise risk management (ERM)
  1. Risk Identification and Due Diligence Techniques
  • Assessing vendor risk profiles and service criticality
  • Pre-contract risk evaluation and screening tools
  • Legal and compliance checks, financial health reviews
  • Site visits, audits, and risk-based selection criteria
  • Documentation and approval processes for new relationships
  1. Contract Structuring and Risk Allocation
  • Key contractual clauses for risk mitigation
  • Defining service levels, KPIs, and risk-sharing provisions
  • Data privacy, cybersecurity, and confidentiality terms
  • Dispute resolution, penalties, and liability management
  • Regulatory reporting and audit rights inclusion
  1. Ongoing Risk Monitoring and Relationship Management
  • Setting up performance tracking and reporting mechanisms
  • Using Key Risk Indicators (KRIs) and service dashboards
  • Conducting regular audits, reviews, and assurance checks
  • Issue escalation and incident response protocols
  • Maintaining accountability in multi-vendor environments
  1. Regulatory Compliance and Supervisory Expectations
  • International standards: BIS, FSB, CPMI-IOSCO guidance
  • Alignment with national outsourcing regulations
  • Disclosure, notification, and documentation requirements
  • Regulator-auditor engagement and stress-testing expectations
  • Meeting continuity and operational resilience standards
  1. Cybersecurity and Data Risk in Outsourced Environments
  • Identifying IT and data-related outsourcing risks
  • Integrating cybersecurity assessments into vendor evaluations
  • Managing risks related to cloud, fintech, and shared services
  • Ensuring secure data transfer and storage protocols
  • Incident detection, reporting, and response readiness
  1. Exit Strategies and Contingency Planning
  • Planning for service termination, transition, or migration
  • Maintaining continuity of critical operations
  • Managing reputational risk during exit execution
  • Backup service providers and contract re-negotiation
  • Lessons learned and post-exit performance analysis

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

 

Third-party And Outsourcing Risk In Central Banking Training Course in Qatar
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