Thought Leadership

Collaboration on complex and important topics is essential to meeting the challenges faced today by financial institutions. The Josefa Group is dedicated to playing a role in the solutions to these challenges. With our Thought Leadership articles we will publish current information on key topics bringing an alternate perspective to a subject.

To provide the broadest base of ideas and to promote their sharing and distribution, we welcome our readers to submit articles for presentation on our Thought Leadership page. If you would like to submit an article of interest to the financial community, please contact Sal Cangialosi at sal@josefagroup.com

Current Articles  

To receive a complete free copy of an article, click on any of the links below and request the article of interest.

Perspectives On Compliance Process Outsourcing – What Your Service Provider May Not be Telling You

Critical, risky, significant liabilities, complex, new, and costly, are attributes that can describe the implementation of an outsourced compliance function. Nevertheless, Compliance Process Outsourcing (CPO) holds the promise of risk mitigation through the access of best practices that have been tested by regulators on other clients. Evaluating whether or not CPO is appropriate for a particular organization requires a comprehensive business case. This article provides an introduction to the issues that must be addressed in the business case.

Compliance Process Outsourcing – A Service Level Primer for the Chief Compliance Officer

Once a business case is made for outsourcing the compliance function, many steps are necessary to successfully implement the arrangement. The Chief Compliance Officer (CCO) will address board and management responsibilities, governance, policy, risk assessment and mitigation, service provider selection, and contract negotiation among many other tasks. The deliverables from the Compliance Service Provider (CSP) should be fully documented in a contract through a Compliance Service Level Agreement.

Depending on the nature of the outsourcing arrangement, the CCO must also work with his information technology (IT) group or consultant to address software, system and technical issues. The specification of a Technology Service Level Agreement (SLA) is essential and is often assigned to the IT group. While the IT group will have the skills necessary to craft the Technical SLA, it is important for the CCO to monitor its development assuring conformity with the overall goals outlined in the business case. This article will provide a primer for the CCO on the topics that should be addressed in the Technical SLA.