What should we do once the outsourcing arrangement is in place?

Financial Institutions are required to:<br/><br/>

- continuously monitor the performance of the service providers using a risk based approach;<br/><br/>

- regularly update their risk analyses;<br/><br/>

- ensure, that their outsourcing arrangements continuously meet appropriate performance and quality standards based on their policies;<br/><br/>

and,<br/><br/>

- take appropriate action if they identify failures in the provision of the outsourced service.