Arendt We Live #6 - Outsourcing: necessary evil or opportunity for growth?

In an increasingly complex environment, financial sector players regularly ask themselves whether they should outsource non-business critical activities. Why outsource and how to do it? These simple questions involve a number of considerations. There are many reasons for players to evolve their operational models by relying on external partners: managing the increasing complexity of regulation, lack of qualified personnel, risk management, performance improvement, cost reduction... However, entrusting a third party with the management of a function or process underpinning the business is not a trivial matter. It implies taking into consideration issues of responsibility and governance, defining a clear outsourcing model, supporting the change by developing the teams... In this sixth episode of Arendt We Live, Christian Heinen, CEO of Arendt Services, Julien Ganter, Partner Arendt Regulatory & Consulting and Stéphane Joly-Meunier, Counsel at Arendt & Medernach, explore the opportunities linked to outsourcing, discuss the models and best practices implemented as well as the risks linked to such operations.