Outsourcing Risk
What is Outsourcing Risk?
Risks associated with using external providers for business functions, including loss of control, service quality issues, and data security concerns.
Terms that appear alongside outsourcing risk
Each of these is named in at least one of the same controls as outsourcing risk. The number is how many controls name both.
- governance 3 shared controls
- multi cloud 3 shared controls
- cybersecurity 3 shared controls
- cloud security 3 shared controls
- business continuity 3 shared controls
- zero trust 2 shared controls
- fips 2 shared controls
- generative ai 2 shared controls
Frameworks that govern outsourcing risk
What the standards actually require on outsourcing risk
Requirements naming outsourcing risk across 4 standards, quoted from the control text.
HKMA C-RAF Domain 3 PROTECTION + Domain 4 DETECTION. DOMAIN 3 PROTECTION (6 sub-areas): (1) ACCESS CONTROL - identity + access management + privileged access (PAM) + MFA + zero trust + just-in-time access + role-based access + access reviews + offboarding;
HKMA-CRAF-Domain3-4-Protection-Detection · HKMA C-RAF Domain 3 (Protection) + Domain 4 (Detection) - Access, Data, Infrastructure, Application, Monitoring, Testing, Threat Intel →HKMA SPM Operational Risk + Resilience + Recovery + Outsourcing modules. OR OPERATIONAL RISK MANAGEMENT: (1) OR-1 Operational Risk Management - sound operational risk governance + risk identification + assessment + mitigation + monitoring + reporting + RCSA +...
HKMA-SPM-OR-RR-SA-OperationalResilience · HKMA SPM Operational Risk (OR-1), Operational Resilience (OR-2), Recovery Planning (RR-1), Outsourcing (SA-2) →HKMA TM-G-1 Cyber + Audit + Outsourcing + Cloud. (1) SECURITY MONITORING AND SIEM (TM-G-1.7.1) - SIEM + SOC + 24x7 monitoring + log management + correlation + use cases + alert handling + escalation + UEBA + behavior analytics + SOAR automation + threat detect...
HKMA-TMG1-Cyber-Monitoring-Threat-Intel-IR-Audit-Outsource-Cloud · TM-G-1 Security Monitoring + SIEM + Threat Intel + Cyber IR + Audit + Outsourcing + Cloud Computing Risk →The FSA expects financial institutions to implement a comprehensive cybersecurity risk management framework + aligned with NIST CSF 2.0 + FFIEC IT Examination Handbook + ISO/IEC 27001 ISMS + integrated into Enterprise Risk Management (ERM).
JP-FSA-CYB-Risk-Management-NIST-CSF-FFIEC-Aligned-Identify-Protect-Detect-Respond-Recover-Govern-Plan-Do-Check-Act · Japan FSA Cybersecurity Risk Management Framework + NIST CSF 2.0 Aligned + FFIEC Crosswalk + Identify Protect Detect Respond Recover Govern + ISO 27001 ISMS + Plan-Do-Check-Act + Inherent vs Residual Risk + Risk Appetite + Cyber Risk in ERM →Questions people ask about outsourcing risk
What is Outsourcing Risk?
Why is Outsourcing Risk important for compliance?
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See how Outsourcing Risk applies across compliance frameworks
Our platform maps 686 frameworks with 311K cross-framework control mappings. Explore how this concept is addressed across standards.