Communiqué related to the notification template for outsourcing a critical or important business process (BPO)
The CSSF has published a notification template (the template) to be used as of 1 July 2022 by In-Scope Entities when outsourcing a critical or important business process (Business Process Outsourcing or BPO) in accordance with points 59 and 60 of the Circular CSSF 22/806 on outsourcing arrangements. Significant credit institutions shall also use this template to notify the ECB to the extent that no ECB specific notification template is available yet.
A BPO is an outsourcing whose outcome is primarily of a business nature, even in the case where the outsourced service is delivered by the service provider on IT systems used or managed by the same service provider. This is by opposition to a “pure” ICT outsourcing where the outcome is exclusively of an ICT nature (e.g. data storage, hosting services, system administration, etc.).
This template shall not be used to notify the following outsourcing arrangements:
- critical or important outsourcing of operational tasks of UCI administration; and
- critical or important ICT outsourcing.
For such critical or important outsourcing arrangements, dedicated templates will be made available on the CSSF website or updated soon. In the meantime, In-Scope Entities shall use the existing templates which are available on the CSSF website:
In-Scope Entities shall not introduce prior notifications to the CSSF for existing material BPO arrangements that have already been approved under the previous prior authorisation regime. Where material BPO arrangements have previously been submitted to, and are currently being assessed by, the CSSF, In-Scope Entities may not implement these arrangements before receiving the prior authorisation from the CSSF.
For any questions, please liaise with your usual contact person within the CSSF.