- The policy shall require that the business needs of the financial entity are defined before a contractual arrangement is concluded.
- The policy shall require that a risk assessment is conducted at financial entity level and, where applicable, at consolidated and sub-consolidated level before a contractual arrangement is concluded.
The risk assessment shall take into account all the relevant requirements laid down in Regulation (EU) 2022/2554 and applicable sectoral Union legislation. It shall consider, in particular, the impact of the provision of ICT services supporting critical or important functions by ICT third-party service providers on the financial entity and all the risks posed by the provision of those ICT services supporting critical or important functions by ICT third-party service providers, including the following:
- operational risks;
- legal risks;
- ICT risks;
- reputational risks;
- risks linked to the protection of confidential or personal data;
- risks linked to the availability of data;
- risks linked to the location where the data is processed and stored;
- risks linked to the location of the ICT third-party service provider;
- ICT concentration risks at entity level.
Article 5 – Ex-ante risk assessment
