This course provides a foundational, regulatory-focused deep dive. It is ideal for professionals who need to understand the core principles, legal obligations, and governance structures mandated by MAS.

Portfolio/Fund/Investment Managers; Execution Trader; and Financial Planners.

Upon completing this course, you will be able to:

• Define outsourcing and materiality in the context of the Singapore financial sector.
• Identify the key MAS Notices and Guidelines governing outsourcing and their legal weight.
• Explain the non-delegable responsibilities of the Board and Senior Management.
• Describe the mandatory requirements for due diligence, ongoing monitoring, and independent audits.
• Articulate the specific rules for safeguarding customer information, especially in sub-contracting arrangements.

Module 1: Introduction to Outsourcing in Singapore's Financial Sector

• What Constitutes an "Outsourced Relevant Service".
• The Concept of "Materiality" and its Impact.
• Key Definitions: Service Provider, Sub-Contractor, Customer Information.
• The "Why": Understanding MAS's Focus on Systemic and Reputational Risk.

Module 2: The MAS Regulatory Landscape

• The Shift from Guidelines to Legally Binding Notices (repeal of 634/1108, introduction of 658/1121).
• Scope of Application: Banks, Merchant Banks, and Other Financial Institutions.
• Interplay with Other Key Regulations: TRM Guidelines, Notice on Cyber Hygiene, Banking Act (Section 47).
• Overview of the Outsourcing Register Requirement.

Module 3: Governance and Accountability: The Buck Stops Here

• The Role of the Board and Senior Management in Oversight.
• Establishing a Group-Wide Outsourcing Risk Management Framework.
• Defining Risk Appetite and Approval Authorities.
• Proving Accountability: Why You Can Outsource the Function, But Not the Risk.

Module 4: Core Lifecycle Requirements: Due Diligence and Audits

• Initial Due Diligence: Assessing a Vendor's Risk Framework, Reputation, and Financial Strength.
• Ongoing Monitoring: Frequency and Scope (Within 24 Months and Ongoing).
• Independent Audits: The "At Least Once Every Three Years" Rule for Material Arrangements.
• Understanding and Leveraging "Pooled Audits" (e.g., OSPAR Reports).

Module 5: Safeguarding Customer Information: The Critical Mandate

• MAS's Stance on Confidentiality and Data Protection.
• The Critical Consent Requirement for Sub-Contracting Arrangements Involving Customer Data.
• Measures for Protecting Data in Cross-Border and Cloud Arrangements.
• Requirements for Data Destruction or Rendering Data Unusable Upon Termination.

Assessment – MCQ