Definition ∞ Outsourcing Governance refers to the framework of policies, processes, and controls an organization establishes to manage its relationships with external service providers. This governance ensures that outsourced activities meet performance standards, comply with regulatory requirements, and align with strategic objectives. Effective governance mitigates risks associated with third-party dependencies. It is essential for maintaining operational control.
Context ∞ Outsourcing governance is a critical area for financial institutions, including those operating in the digital asset space, as they increasingly rely on external vendors for technology and operational support. Regulators are emphasizing the need for robust governance frameworks to address risks such as data security, business continuity, and regulatory compliance in outsourced arrangements. The complexity of managing multiple vendors presents ongoing challenges.
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