| Booklet:
Management Section: Management Considerations for Technology Service Providers Subsection: |
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Action
Summary 
Financial institutions should oversee the quality of service, financial condition, and control environment of the companies providing them with critical IT services. The IT Handbook’s, “Outsourcing Technology Services Booklet” provides detailed guidance for institutions to follow. The booklet addresses the risk management concerns from the perspective of the service recipient. TSPs include financial institutions, affiliates, and independent third parties. TSPs have an obligation to support their customers’ oversight responsibilities. Financial institutions should expect TSP support at a level consistent with the criticality of the services provided to the institution. Unlike the institutions’ risk management efforts, the TSP’s size and complexity have little impact on its risk management expectations. This section provides additional management considerations TSPs should address to support financial institutions in meeting their safety and soundness and consumer compliance obligations.