Vialex welcomes Senior Consultant with extensive banking sector experience to Legal Counsel Service team

Colin McKay joins an expanding bench of consultants supporting our Legal Counsel Service. We look forward to working with him and to our clients benefitting from his advice and the vast experience he brings with him.

Of particular focus for Colin is the impact of cloud outsourcing, which is now a well-established trend in the financial services sector generally, banks included.  Regulators are working hard to ensure the regulatory framework supports this trend whilst at the same time requiring appropriate governance and controls. All banks see regulatory compliance as one of their key challenges in this area.

We will shortly be launching a new initiative aimed at helping banks and building societies with these challenges, with particular focus on ensuring that the software licence or other contract which sets out the terms of the cloud outsourcing, is fully compliant with the regulatory framework, and Colin will play an important part in delivering that service.

Colin McKay commented: “The market for this sort of initiative is clear and Vialex feels like the ideal platform for it, so I’m delighted to be involved.”

Keith Anderson (CEO) said “I have enjoyed working with Colin these last few months developing this initiative; like myself, his journey in the legal world has taken various interesting turns and it is that versatility, and enthusiasm that will benefit clients of our Legal Counsel Service, and in particular, of this initiative.”