+Article 5 Ex-ante risk assessment
---+Article 5 1
---+Article 5 2

Article 5 Ex-ante risk assessment

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1. Overview

,
Summary Regulation
Article 5 1

1.   The policy shall require that the business needs of the financial entity are defined before a contractual arrangement is concluded.

Article 5 2

2.   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:

(a)

operational risks;

(b)

legal risks;

(c)

ICT risks;

(d)

reputational risks;

(e)

risks linked to the protection of confidential or personal data;

(f)

risks linked to the availability of data;

(g)

risks linked to the location where the data is processed and stored;

(h)

risks linked to the location of the ICT third-party service provider;

(i)

ICT concentration risks at entity level.

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements
Source Requirement

3. Related Standards

Standards
Source Requirement
  • Builddate: 25.06.2024 00:00:00 -Doknr: CELEX:32024R1773
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