Regulatory Alerts2026-01-01
Decision on Managing Outsourcing and Outsourcing-Related Risks
The Central Bank of Montenegro issued this Decision to prescribe the management of outsourcing and related risks for credit institutions, defining eligible service providers and excluding specific non-outsourcing services. It mandates that credit institutions maintain control over outsourced functions, conduct detailed pre-outsourcing assessments, and implement robust risk management and data protection measures. The regulation further requires the establishment of outsourcing management policies, written agreements with service providers, timely notifications to the regulator, and comprehensive exit strategies for critical functions.
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