FSP Outsourcing Governance Readiness
How effectively does your FSP govern its outsourced functions?
Assess your organisation's current outsourcing governance against the key requirements of Section 39 of the Fit and Proper Requirements for Financial Services Providers.
Start with the function being outsourced, not the size or reputation of the provider. The questions focus on functions required by law, functions integral to the financial services you provide, and materially important operational functions.
27 questions
Grouped into 7 governance domains, from scope and due diligence to continuity and client outcomes.
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- Scope & Governance
- Provider Selection & Due Diligence
- Outsourcing Contracts
- Supervision, Performance & Risk
- Continuity & Exit
- Data, Information & Access
- Client Outcomes & Accountability
This assessment is intended as a high-level readiness and governance self-assessment. It does not constitute legal advice, regulatory certification or a formal determination of compliance with applicable financial services legislation or the Fit and Proper Requirements.
Scope & Governance
Question 1 of 27 - 0% complete
Scope & Governance
Knowing which outsourced functions matter, and governing them through their full life cycle.
- 01
Have you identified the external providers that perform or support functions that are required by law, integral to the financial services you provide, or materially important to your operations?
Section 39(1) - FSP39-SG-01
- 02
Do you have a defined method for determining whether an outsourced function is integral to your financial services or represents a material important operational function?
Section 39(1)(b)-(c) - FSP39-SG-02
- 03
Do you maintain a current record of relevant outsourced functions, including the service provider and responsible internal owner?
Supports Section 39(1) and 39(2)(c) - FSP39-SG-03
- 04
Are outsourcing risks and requirements considered when an arrangement is entered into, materially changed, managed and terminated?
Section 39(1) - FSP39-SG-04