28th December, 2013
US Federal Reserve has issued additional guidance on outsourcing business functions. These guidelines will affect the banks and financial companies. The norms comprehensively cover vendor risk management.
The new rules govern mortgage processing, valuation services and higher-value outsourcing business. It also places responsibility on directors and senior management of the US financial services firms.
New rules will affect Indian Outsourcing firms. They have to review their Risk Assessment Strategy to include updated Controls for Security. This will result in tougher Contractual and due diligence requirements by the US clients.
For complete news item please refer to http://articles.economictimes.indiatimes.com/2013-12-24/news/45540094_1_tata-consultancy-services-new-guidelines-outsourcing
Published by CMMI Consultant
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Rajendra is a qualified and certified Lead Appraiser and Instructor for the following :
Rajendra is Lead Assessor for ISO 9001 (QMS), ISO 14001 (EMS), OHSAS 18001 (OHSMS) since 1994
International Automotive Task Force (IATF) approved Lead Assessor for Automotive Standard TS 16949:2009
Lead Assessor for ISO 27001 (ISMS) and ISO 20000-1 (ITSM)
Rajendra has 25 years experience in the industry.