Axiom for Third-Party Oversight

Ensure clear lines of accountability

Axiom for Third-Party Oversight is a solution designed to improve your governance of activities carried out by third-party service providers.

As financial institutions become ever more competitive, organisations often find it essential to outsource some operational functions to third-party service providers, such as transfer agents. The FCA’s Senior Management Arrangements, Systems and Controls sourcebook states that when firms “…rely on a third party for the performance of operational functions which are critical to the performance of regulated activities…” they must take reasonable steps to ensure that any undue operational risks are avoided.

Firms remain wholly responsible for all their regulatory responsibilities even if the activities are outsourced and performed by a third party. It is therefore essential to have methods and procedures in place to ensure the effective supervision and risk management of the third-party service provider.

Axiom for Third-Party Oversight is a software solution designed to improve your governance of activities carried out by third-party firms. Its rules-mapping functionality makes oversight and escalation processes straightforward and visual. Its powerful MI system supports effective review and governance.

Key features of the solution

Ensure clear lines of accountability with Axiom for Third-Party Oversight solution

Map all third-party activities

Combine third-party information with your own for audit

Allocate clear responsibilities while maintaining oversight

Automated reporting

Real time updates and notifications

Repository for all regulatory compliance information for reference and record keeping

Visibility of processes and controls performed by Third-Party service providers

Simplified control testing and evidencing for internal and external audit

Why use the Axiom platform?

The industry-leading integrated risk management platform

Simplify Audit Preparations

Enhance Oversight

Minimise risk

Monitor in Real Time

Open to Integration

Simple to Use Analytics

Stable and user friendly interface

It is relatively low-cost with the user interface stable and user-friendly. The backup team from Axiom are easy to contact and within that team, there are CASS specialists who are recognised throughout the industry which gives us confidence in the advice and the solution that we are using.

Ticks all the boxes

Axiom ticked the boxes we really wanted to cover. The centralisation, the attestation and the resolution pack. It ticks all the boxes that we wanted to sign off.

Axiom openly committed to enhancing its product

It is refreshing to see a software provider that is so openly committed to enhancing its product.

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Industry-leading regulatory compliance solutions

Axiom HQ provides regulatory compliance solutions designed to help you demonstrate and evidence compliance using Axiom platform’s comprehensive rules-mapping, risk and control tools, automated reporting features and powerful dashboards.

Axiom HQ is a trusted partner of the top financial services companies