Multilayered flexible subsea pipelines may experience significant lateral movements due to manmade and environmental geohazards. These pipelines incorporate several structural and protective layers to resist different loads, and may require additional protection such as trenching, rock placement, or burial. In practice, simplifications are considered due to the complexities and uncertainties involved in the multi-layer pipe structure and the surrounding soil, compromising the pipe structure or the soil behavior. These simplifications are applied either on the pipe by assuming a rigid section or on the soil by representing it as elastic springs, which may result in inaccuracies. This study proposes a decoupled methodology combining the Coupled Eulerian–Lagrangian (CEL) model for soil displacement with a small-strain finite element analysis of the flexible pipe. This approach aims to accurately capture cross-sectional deformations and local stresses due to soil movement while maintaining reasonable computational effort. A parametric analysis was conducted to assess the impact of several variables on failure risk. The deformed cross-section was then used for a collapse analysis to determine critical loads at maximum operational depth. The study showed that modeling parameters such as soil strength and internal diameter might significantly influence pipe failure and the risk of collapse.