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Achieving effective oversight where third parties are outsourcing to ‘fourth parties’ in the supply chain

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  • Bwanya, Tendai

Abstract

The concept of oversight of third parties is becoming established in the financial services industry. However, with an increasing number of third-party service providers further outsourcing their services, it remains unclear how much further down the chain a firm’s oversight has to stretch in order to be considered effective. This paper will cover a practical way firms can adopt to assess the extent to which such oversight can be provided with a sufficient basis for the approach taken by the firm.

Suggested Citation

  • Bwanya, Tendai, 2018. "Achieving effective oversight where third parties are outsourcing to ‘fourth parties’ in the supply chain," Journal of Securities Operations & Custody, Henry Stewart Publications, vol. 10(2), pages 137-144, March.
    • Handle: RePEc:aza:jsoc00:y:2018:v:10:i:2:p:137-144
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    More about this item

    Keywords

    outsourcing; oversight; risk appetite; third party; fourth party; risk assessment; assurance reports; MiFID II; Outsourcing Working Group (OWG);
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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