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Article 3: Outsourcing Register

C 14/2021 Effective from 31/5/2021
  1. 3.1 Banks must maintain a comprehensive and updated register of all Outsourcing arrangements, including both material and non-material Outsourcing arrangements, on a solo and group wide basis.
     
  2. 3.2 This register must contain key information for each Outsourcing arrangement, and at a minimum:
     
    1. 3.2.1 Key non-risk related data, such as the details of the Outsourcing service provider, start and end date of the arrangement, and a brief description of the service delivered;
       
    2. 3.2.2 Whether the Outsourcing arrangement involves any Confidential Data; and
       
    3. 3.2.3 Whether the Outsourcing arrangement is considered material.