Contents
Article 5Ex-ante risk assessment#
1.The policy shall require that the business needs of the financial entity are defined before a contractual arrangement is concluded.
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.
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.