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By Shamial Afzal, Head of Strategic Supplier Oversight, Legal & General Investment Management (LGIM)
How different will outsourcing and third-party risk management look for institutions after PRA SS2/21?
Given the sheer amount of effort and focus on outsourcing we should now see a strengthened environment when it comes to firms outsourcing. These will include robust controls in the appointment of outsourcers, developed exit plans in both stressed and non-stressed scenarios as well as heightened oversight across the firm with accountability clearly defined.