A bank has outsourced substantial parts of its asset management value chain to a service provider. The outsourcing does not relieve the bank from its responsibility to provide these services. Regulatory provisions require measures to enable the bank to effectively monitor the activities of the service provider at any time. For this purpose, product and service descriptions were prepared and set out in SLAs.
- Previously agreed results were not achieved by our predecessor within the set time and with the agreed quality
- Extensive criticism of the current level of service descriptions by internal audit, e.g.:
- No key performance indicators (KPI) established
- No specific performance assessment reports implemented
- Insufficient definitions for formats, times, error processing, escalation etc.
- Requirements from the perspective of outsourcing controlling are unclear
- Enhancement of existing SLAs:
- Clear definition and delimitation of specific service descriptions
- List of technical interfaces und supply times
- Definition of reporting requirements and KPIs
- Definition of escalation rules for each service element
- Documentation of overall guidelines (e.g. enhancing SLAs)
- Taking into account operational risks
- Amendment of existing product & service descriptions with regard to
- Process requirements
- Support and supply obligations of customers
Creation of a SLA framework pursuant to highest market standards, providing external market capability. External requirements (e.g. auditors) and internal objectives (internal audit) with regard to service descriptions and service levels are fulfilled.