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.
Financial entities must immediately integrate CTPP oversight into their ICT risk frameworks, as DORA shifts regulatory focus to supply chain resilience.
We use cookies to personalize content and marketing, and to analyze our traffic. This helps us maintain the quality of our free resources. manage your preferences below.
Detailed Cookie Preferences
This helps support our free resources through personalized marketing efforts and promotions.
Analytics cookies help us understand how visitors interact with our website, improving user experience and website performance.
Personalization cookies enable us to customize the content and features of our site based on your interactions, offering a more tailored experience.
