MaRisk (=minimum requirements for risk management) specifies the requirements for risk management in the German financial and insurance sector. In August 2021, the 6th MaRisk amendment was published; a new edition with higher quality requirements. The German Federal Financial Supervisory Authority (BaFin) specifies the regulations for a proper and secure business organization.
MaRisk is divided into a general part (AT) and another special part (BT). The general part contains basic regulations for the design of risk management, whereas the special part places specific requirements on the sector and its processes. The topics of counterparty default risks, market price risks, liquidity risks and operational risks as well as the audit are laid out.
BAFIN'S DEFINITION OF OUTSOURCING MANAGEMENT
BaFin uses the term outsourcing management to regulate activities that have been outsourced by banks or financial companies instead of performing them themselves. If companies outsource services, they must comply with the predefined rules (MaRisk).
MARISK – A BRIEF OVERVIEW OF THE AUDIT OF OUTSOURCING MANAGEMENT
BaFin published the sixth amendment to MaRisk in August 2021. With the publication, the new version already came into action. An essential aspect of the innovation is the revision of the general part of MaRisk. The changes to the minimum requirements for risk management also affect the entire outsourcing process. For companies, this means that they have to adapt their existing outsourcing contracts to MaRisk.
And since the interpretation of the 6th amendment to MaRisk creates uncertainties regarding its implementation in the financial sector, Rhenus Archiv Services would like to provide clarity on the topic and present possible solutions through the MaRisk information event.
RHENUS ARCHIV SERVICES – YOUR STRONG PARTNER WHEN IT COMES TO OUTSOURCING MANAGEMENT IN ACCORDANCE WITH MARISK
The implementation of the MaRisk requirements is complex, demanding and therefore very time-consuming. In addition to the above-mentioned contents of MaRisk, there are a large number of other changes that are coming to the banking and insurance sector. Service provider Rhenus Office Systems has many years of experience in the financial sector and the corresponding know-how. Internal processes and procedures in banks or financial companies are familiar from day-to-day business with customers. In this way, Rhenus has also recognized the challenge of MaRisk for financial companies. That is why we offer solutions for companies in the financial sector to support you while preparing for BaFin exams.
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- Compliance with data protection regulations
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- Highest safety standards
- State-of-the-art security archives
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