1 Real Estate Investment Manager
Risk Identification and Service Level Agreement

Context

Our client was embarking on a new strategic offering within the Real Estate Investment sector. As a leading Real Estate Investment Manager, Developer and Operator – their strategy was to enter into the Build to Rent market in Australia. This involved outsourcing the operations of the day to day management of the properties to outsource providers.  Given this was a new strategy and the first of its kind within this company, the Chief Legal and Risk officer sought to provide comfort to the Senior Leadership team and Board that the requisite risks were identified and managed.

Objectives

Green Door Risk Partners was engaged to support the Chief Legal and Risk officer in reviewing work undertaken to date by the internal and external teams to map out roles and responsibilities and importantly how the Manager would monitor the outsource provider. The aim was to ensure there was a clear and documented understanding between the two entities of roles and responsibilities to ensure that on Day 1 of operation of the new building that each team within the organisations knew the information flow required.

How we helped

Given the client was experiencing a period of time with resource constraints, we were engaged to provide short term support on this initiative. To achieve the objectives set out, we: 

• Reviewed legal agreements and documented commitments made by each party as to responsibilities for undertaking operational activities

• Mapped out activities which required regular monitoring and worked with stakeholders to agree appropriate measurements of performance

• Documented a Service Level Agreement between the parties to facilitate ongoing active monitoring of services provided by the sub-manager.

Outcomes

A practical SLA was provided for use by the client. Ultimately, working through the process of assessing the legal agreements and documenting an SLA between the parties gave comfort that any material risks were identified and managed.

Positive feedback was received from the Chief Legal and Risk Officer. 

Testimonial

The outsourced activity was new to the firm, so it was important to identify the key risks and activities that required oversight. Rebecca captured the relevant information via stakeholder interviews and interrogation of legal agreements, building the relevant monitoring activities into a Service Level Agreement which could be implemented into our BAU processes. 

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Rebecca engaged with business area stakeholders in a clear, concise and collaborative manner. Her ability to work through detail and present it back in a format which was understood as well as project managing the activity ensured that our goals were met in line with expectations both in terms of quality and timeframes.

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We enjoyed working with Rebecca on this engagement and look forward to seeking further opportunities with Green Door Risk Partners in the future.

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...if you want to send anyone my way for a chat before they engage you guys – also feel free to do so. I’m a happy customer