The Challenges of EBA
Ultimately, the EBA regulations covering “material outsource” exist to prevent financial services firms from offloading their supply chain risk and responsibility across their own critical or important, materially outsourced business processes. The regulations are backed up by audit activities that are substantive and thorough. In the best case, this requires a high resource effort to demonstrate compliance. And for persistent audit failures, the fines can be punitive, and reputational damage can be very high.
Brooklyn Outsourcing accelerates complete EBA compliance
Our EBA Guidelines Module automates and maximises governance, control, and compliance against the new EBA regulations. With zero-preparation, you are always fit-for-audit reporting, aligned to key institutions such as the FCA and FSA.
Best-Practice
Guidance and Advice
The module comes pre-populated with defined controls and regulatory content, all lifted from the EBA guidelines. Alongside the supportive content, a lightweight workflow guides all parties in what review activities to undertake and what to add to the digital record. Render your organization as digitally fit for audit at all times.
Drive Operational Compliance and Continuous Improvement
Brooklyn guidance maps neatly into your own tailored Vendor Management Framework. You are in control, enabling your relevant EBA activities and workflow, across one quick onboarding session. Drive best-in-class governance, automation, reporting, and compliance across contracts, risk, performance, and relationships. Measure and resolve any exceptions against the EBA Guidelines, ensuring continuous compliance from your outsourcing agreements.
Save Time and Avoid High Risk
Through our pre-defined sample activities, users save time and effort learning and accommodating the legally-mandated EBA obligations. Reduce your necessary resourcing, avoid hefty penalty fees, and prevent the highest risks to the business from outsourcing.
