A sound, comprehensive and well-documented ICT risk management framework is in place. Which as goal to address all ICT risks properly and ensure a high level of digital resilience. The reponsibility for risk management is properly assigned to a control function. 

The ICT risk management framework shall be documented and reviewed at least annually, or periodically for microenterprises, with immediate reviews triggered by major ICT-related incidents or supervisory feedback. Continuous improvement will be ensured by incorporating lessons learned from implementation, monitoring, and audits. The report of the review will be prepared according to the requirements as stated in chapter 5 (Article 27) of the RTS RM and will be made available for submission to the competent authority upon request. 

Assess new standards and relevant technology developments in the field of information security, cybersecurity and resilience on a continuous basis and make proposals on how they can strengthen the information security and cybersecurity control measures of the institution.

The effectiveness of the risk management framework is monitored based on the risk exposure over time to critical or important business functions. Implement a reviewing and auditing process, with a minimum yearly review of the framework, triggered by major ICT incidents, regulator instructions, or major audit findings. 

The tasks of verifying compliance with ICT risk management requirements may be outsourced to intra-group or external undertakings. In case of such outsourcing, the financial entity remains fully responsible for the verification of compliance with the ICT risk management requirements.

Maintain a comprehensive third-party risk management program which includes:

• A register of information related to the use of thirdparty service providers, especially those supporting critical or important functions (see also control 17.3).
• Put in place a policy on the management of ICT third-parties, including the criteria for determining the criticality of service providers and the internal responsibilities for managing third-parties.
• Ensuring that senior management reviews the policy and designate a member to monitor relations with the third-parties and the contractual arrangements.
• A (holistic) multi-vendor strategy, if deemed relevant,  showing key dependencies on ICT third-party service providers and explaining the rationale behind the procurement mix of ICT third-party service providers.  

Use and maintain ICT systems, protocols, and tools that are up to date and:

• Tailored to the magnitude of ICT operations
• Reliable
• Equipped with sufficient capacity to accurately process data and to deal with peak orders, message or transaction volumes as needed
• Technologically resilient to deal with additional processing needs under stressed market conditions or other adverse market conditions

Keep an inventory of (ICT) assets, monitor their life-cycle and update it periodically and upon every major change in the network, the IT infrastructure, and processes and procedures supporting business functions. Keep records of the following for each ICT asset: unique identifier, location (physical or logical), asset classification, identity of asset owner, information for specific risk assessment on legacy systems, business functions or services supported, business continuity requirements (e.g., RTO, RPO), exposure to external networks, including the internet, links and interdependencies among assets and business functions using each asset, and the end dates of the ICT third-party service provider’s regular, extended and custom support services after which it is no longer supported by its supplier or by an ICT third-party service provider.

Ideally, inventory management is perfomed in an automated and continuous fashion.

Identify, classify and document all ICT-supported business functions, including the assets supporting them, and detail the roles and dependencies of these assets in relation to ICT risk. Additionally, identify and document all ICT-supported business functions dependent on ICT third-party service providers, and identify the services provided by third-party providers that support critical or important business functions. Make a mapping of critical (ICT) assets based on a criticality assessment, which must include network resources, hardware equipment, and resources on remote sites. This mapping should also incorporate the configuration of assets and their links and interdependencies with other assets. The criticality assessment should follow clear criteria to evaluate the ICT risk related to business functions, taking into account the potential impact of confidentiality, integrity, and availability losses. Review the adequacy of this classification and documentation at least on a yearly basis, ensuring it meets the requirements for maintaining accurate and up-to-date asset records.

Implement policies and procedures to protect all information, ICT assets, and relevant physical ICT components and infrastructures. At least the following policies shall be established and maintained.

• Security policy
• Human resources policy
• Encryption and cryptographic control policy
• Identity and access management (IAM) policy
• Change management policy
• Network security policy
• ICT operating policies and procedures
• (Crisis) Communication policy
• Vulnerability and patch management policy
• Back up policy
• Project management policy
• Physical and environmental security policy
• Business continuity policy with response and recovery plans (including testing plans), see control1.4 *
• ICT third-party service providers management policy, see control 1.1. *
• Operations of ICT assets (ensuring network security, protect against intrusions and data misuse and defining how the entity operates, monitors, controls, and restores ICT assets, including the documentation of ICT operations).

* must be approved by the Management body