Regulatory Alerts2023-06-30
Guidance Note Outsourcing Register Template Insurance
The Central Bank of Ireland mandates that regulated financial service providers with an impact rating of M/L or above submit a completed Outsourcing Register template via the Central Bank Portal. The submission requires data as of 31 December 2022, with a deadline set for Q4 2023, and must adhere to strict formatting and validation rules to ensure successful upload. The register details all outsourcing arrangements, including critical or important functions, intragroup services, and sub-contracting, to enable the regulator to assess interconnectedness and concentration risk within the financial sector.
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