2024-10-11

Gen S 10.10 Outsourcing Standard Final 2024

The regulatory authority issued the Gen S 10.10 Outsourcing Standard Final 2024 to mandate comprehensive governance frameworks for financial institutions managing third-party service providers. The standard requires rigorous risk assessments, continuous monitoring, and explicit contractual safeguards for all material outsourcing arrangements. It further obligates institutions to implement structured reporting protocols and conduct periodic compliance audits to mitigate operational and strategic outsourcing risks.

Namibia

Namibia Financial Institutions Supervisory Authority

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Create Date October 11, 2024

Last Updated October 22, 2024

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