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Cross-Industry Guidance on Outsourcing

T: +353 (0)1 224 6000 E: Cross-Industry Guidance on Outsourcing December 2021 Cross-Industry Guidance on Outsourcing December 2021 Central Bank of Ireland Page 2 Contents Part A - Introduction .. 4 1. Background .. 4 2. Context .. 6 3. Purpose & Scope .. 8 4. Application of the Guidance and 10 5. Status .. 10 Part B - .. 11 Cross-Industry Guidance on Outsourcing Risk .. 11 1. Assessment of Criticality or Importance of activity/service to be outsourced .. 11 2. Intragroup Arrangements .. 13 3. Outsourcing & Delegation .. 14 4. Governance .. 15 The role of the board and senior management.

Ongoing outsourcing related supervisory engagements, including risk assessments, inspections and thematic reviews. During the conduct of this programme of work, the European Banking Authority (‘the EBA’) updated the 2006 guidelines on outsourcing that were issued by the Committee of European Banking Supervisors (CEBS).

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www.centralbank.ie

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