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GUIDELINES ON OUTSOURCING - Monetary …

Monetary Authority of Singapore GUIDELINES ON. OUTSOURCING . 27 JUL 2016. Table of Contents 1 INTRODUCTION .. 1. 2 APPLICATION OF GUIDELINES .. 1. 3 DEFINITIONS .. 3. 4 ENGAGEMENT WITH MAS ON OUTSOURCING .. 8. Observance of the GUIDELINES .. 8. Notification of Adverse Developments .. 9. 5 RISK MANAGEMENT 9. Overview .. 9. Responsibility of the Board and Senior Management .. 9. Evaluation of Risks .. 11. Assessment of Service 12. OUTSOURCING Agreement .. 14. Confidentiality and Security .. 16. Business Continuity Management .. 17. Monitoring and Control of OUTSOURCING 19. Audit and Inspection .. 21. OUTSOURCING Outside Singapore.

GUIDELINES ON OUTSOURCING 3 3 DEFINITIONS 3.1 In these Guidelines on Outsourcing, unless the context otherwise requires: “board” or “board of directors” means –

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