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Title:

What Contingency Planning should you demand as part of Outsourcing Contracts?

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demand as part of Outsourcing Contracts? Nick Simms Director, Cornwood Risk Management 3 TYPES OF DISRUPTION Supply Supplier Our own 4 TYPES OF CONTINGENCY Prevention ... – PowerPoint PPT presentation

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Title: What Contingency Planning should you demand as part of Outsourcing Contracts?


1
What Contingency Planning should youdemand as
part of Outsourcing Contracts?
Nick SimmsDirector, Cornwood Risk Management

2
3 TYPES OF DISRUPTION
  • Supply
  • Supplier
  • Our own

3
4 TYPES OF CONTINGENCY
  • Prevention
  • Detection
  • Escalation
  • Correction

4
SUPPLY DISRUPTION - CAUSES
  • Disaster
  • System failure
  • Security breach
  • Data corruption
  • Transmission failure
  • People
  • 3rd party failure

5
CONTINGENCY
  • Remove Force majeure clauses
  • Agree Service Levels and responsibilities
  • Require supplier to assess and manage risk
  • Audit its own suppliers
  • Succession planning
  • Tested back-ups
  • Tested recovery plans
  • Agree Triage plan
  • Understand where you fit in their priorities
  • Document and test internal workarounds
  • Data reformatting
  • Agree escalation plan

6
SUPPLIER DISRUPTION - CAUSES
  • Bankruptcy
  • Closed by courts
  • Withdrawal from market

7
CONTINGENCY
  • Conduct credit checking
  • Take up references
  • Review supplier news regularly
  • Ensure constant dialogue
  • Develop plans for bringing service in-house
  • Identify alternative supplier (s)

8
OUR DISRUPTION - CAUSES
  • Disaster
  • System failure
  • Security breach
  • Receipt failure

9
CONTINGENCY
  • Ensure supplier can redirect service
  • Test suppliers ability to provide additional
    services
  • Include on-site supplier staff in evacuation plan
  • Agree Communication plan
  • Outsourcers management
  • Outsourcing staff working on-site

10
SUMMARY
  • Outsourcers are an integral part of your business
  • Ensure you are managing your risk and ensure that
    your suppliers are managing it too.

11
CORNWOOD CONSULTING
  • Provides Business Continuity and Operational Risk
    consultancy and training services primarily to
    Investment Banks and their support community

12
CONTACT DETAILS
  • Nick Simms
  • Cornwood Risk Management Ltd
  • 14 Greenhalgh Walk
  • London N2 0DJ
  • Tel 020 8731 6510
  • Fax 020 8731 6511
  • E-mail nicksimms_at_cornwood.co.uk
  • Internet www.cornwood.co.uk

13
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