Transcription of Deloitte Note: EBA Guidelines on outsourcing arrangements …
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Deloitte Note: EBA Guidelines on outsourcing arrangements …
00 Deloitte Note: EBA Guidelines on outsourcing arrangements (EBA/GL/2019/02) EBA Guidelines on outsourcing arrangements 01 Table of Contents 1 High-Level summary of the issued Guidelines 3 Executive summary 3 Background 4 Compliance and reporting obligations 5 Timings 5 2 Guidelines on outsourcing 6 Guidelines 1&2 - Proportionality: groups and institutional protection schemes 6 Assessment of outsourcing arrangements 6 Guideline 3 - outsourcing 6 Guideline 4 - Critical or important functions 7 Governance framework 7 Guideline 5 - Sound governance arrangements and third-party risk 7 Guideline 6 - Sound governance arrangements and outsourcing 8 Guideline 7 - outsourcing policy 8 Guideline 8 - Conflicts of interests 8 Guideline 9 - Business continuity plans 9 Guideline 10 - Internal audit function 9 Guideline 11 Documentation requirements 9 outsourcing process 10 Guideline 12 - Pre- outsourcing analysis 10 Guideline 13 - Contractual phase 12 Guideline 14 - Oversight of outsourced functions 14 Guideline 15 - Exit strategies 15 Guidelines on outsourcing addressed to competent authorities 15 02 outsourcing is a way to get relatively easy access to new technologies and to achieve economies of scale.
existing outsourcing arrangement, but by no later than 31 December 2021. The Committee of European Banking Supervisors (CEBS) guidelines on outsourcing of 14 December 2006 and the EBA recommendations on outsourcing to cloud service providers are repealed with effect from 30 September 2019.
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