JOINT STANDARD REQUIREMENTS
The Joint Standard has fundamentally changed how Insurers and Financial Service Providers approach outsourcing, governance, operational resilience, and third-party oversight.
Regulators now expect organisations to demonstrate continuous oversight, defensible governance, operational resilience, and evidence-driven compliance across their third-party ecosystem.
We help Insurers and FSPs transform these requirements into practical, scalable, and operationally efficient Third-Party Risk Management capabilities.
A NEW ERA OF THIRD-PARTY ACCOUNTABILITY
Third parties now sit at the centre of modern financial operations. From cloud providers and cybersecurity partners to claims processors and data hosting platforms, external providers have become deeply embedded within critical business services.
As operational dependency increases, so does regulatory scrutiny.
The Joint Standard reinforces a critical principle:
Accountability cannot be outsourced.
Even when services are delivered by external providers, the responsibility for governance, oversight, resilience, customer protection, and compliance remains with the Insurer or Financial Service Provider.
This means organisations must move beyond fragmented spreadsheets, manual workflows, and point-in-time assessments toward a more mature and continuously monitored approach to third-party risk management.
WHY THE JOINT STANDARD MATTERS
Third parties now play a critical role in:
Customer service delivery
Cloud and technology operations
Claims and payment processing
Data hosting and analytics
Cybersecurity operations
Business continuity
Regulatory reporting
This creates operational dependencies that can directly impact:
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Accountability cannot be outsourced.
Even when services are provided by external providers, the Insurer or Financial Service Provider remains accountable for it.
HOW WE HELP
We help organisations operationalise Joint Standard requirements through a structured combination of technology, governance, continuous monitoring, and risk management expertise.
Our approach is designed to simplify complex regulatory obligations while improving operational visibility, resilience, and oversight maturity.
Instead of treating compliance as a checkbox exercise, we focus on helping organisations build sustainable and defensible third-party risk capabilities that support long-term operational stability.
Ready to Strengthen Your Third-Party Risk Management Capability?
Speak to our team to explore how we can support your regulatory and operational resilience objectives.
WHY THE JOINT STANDARD MATTERS
1. GOVERNANCE & ACCOUNTABILITY
The Joint Standard requires organisations to establish clear governance structures, accountability, and oversight across outsourcing and third-party relationships.
We help organisations centralise governance activities, improve executive visibility, and create defensible oversight processes through structured workflows, reporting, and audit-ready controls.
2. RISK-BASED DUE DILIGENCE
Organisations are expected to perform appropriate due diligence before onboarding third parties, including evaluating cybersecurity, operational capability, resilience, and compliance posture.
Our platform streamlines this process through automated assessments, evidence collection, configurable questionnaires, and risk-based evaluation workflows.
3. ONGOING MONITORING & OVERSIGHT
Third-party risk evolves continuously. The Joint Standard therefore expects organisations to maintain ongoing oversight throughout the supplier lifecycle.
We enable continuous monitoring, reassessments, incident tracking, and risk visibility that help organisations identify emerging risks earlier and respond proactively.
4. CRITICAL & MATERIAL OUTSOURCING OVERSIGHT
Critical suppliers require enhanced oversight due to their impact on essential business services and operational resilience.
We help organisations identify critical suppliers, map dependencies, assess concentration risk, and strengthen resilience oversight across high-impact relationships.
5. BUSINESS CONTINUITY & OPERATIONAL RESILIENCE
The Joint Standard expects organisations to ensure outsourced services remain resilient during disruptions and operational incidents.
Our platform supports resilience management through dependency mapping, continuity assessments, incident workflows, and recovery visibility.
6. DATA PROTECTION & CYBERSECURITY OVERSIGHT
Third parties increasingly process sensitive data and support critical systems, making cybersecurity oversight essential.
We provide structured security assessments, cyber risk scoring, compliance mapping, and continuous monitoring capabilities that improve third-party cyber visibility.
7. CONTRACTUAL & LEGAL OVERSIGHT
Outsourcing agreements must clearly define responsibilities, obligations, audit rights, and continuity expectations.
We support stronger contract governance through obligation tracking, compliance visibility, and workflow-driven oversight.
8. EXIT PLANNING & SUPPLIER TERMINATION READINESS
Organisations must prepare for supplier exits, disruptions, and transition scenarios before they occur.
Our approach improves exit readiness through dependency visibility, transition coordination, and structured exit planning workflows.
WHY THE JOINT STANDARD MATTERS
Practical Regulatory Alignment
The Joint Standard requires organisations to establish clear governance structures, accountability, and oversight across outsourcing and third-party relationships.
We help organisations centralise governance activities, improve executive visibility, and create defensible oversight processes through structured workflows, reporting, and audit-ready controls.
Reduced Operational Burden
Many organisations still rely on spreadsheets, email-driven workflows, and manual reporting processes to manage third-party risk.
Our approach simplifies and automates these activities, improving efficiency while reducing administrative overhead.
Improved Executive Visibility
We provide centralised dashboards, risk analytics, reporting insights, trend visibility, and escalation transparency that support stronger executive and board-level decision-making.
Stronger Operational Resilience
Our platform improves visibility into critical suppliers, operational dependencies, concentration exposure, and recovery capability across the third-party ecosystem.
Scalable TPRM Maturity
Whether building a TPRM capability from the ground up or enhancing an existing programme, we help organisations mature progressively while maintaining operational efficiency.
