Source: Joint Forum: Outsourcing principles
The Joint Forum report examines trends in outsourcing in the financial sector and presents a set of principles for firms to follow when outsourcing.
The principles focus on establishing coherent policy and risk management programmes for outsourcing activities and recognising that a firm's senior management remains responsible for activities that are outsourced. Issues for consideration in drawing up contracts and contingency planning are also discussed. Finally, the report contains some broad principles to help supervisors take outsourcing into account in their regular risk reviews of firms.
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