ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403)
Guideline 5: Exit strategies – ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403)

ESMA Guidelines on Outsourcing to Cloud Service Providers (ESMA50-157-2403) 32: Build the exit strategy around objectives, triggers, impact analysis, roles, testing and success criteria

What does 32 require?

When developing its exit plans and solutions the firm defines the objectives of the exit strategy; defines the trigger events that could activate it, covering at minimum termination by either side and the CSP's failure or any other serious interruption of its business; performs a business impact analysis commensurate with the function to identify the human and other resources the exit would require; assigns roles and responsibilities for managing the exit; tests the strategy's appropriateness on a risk basis, for example by analysing the costs, impact, resources and timing of moving the service to an alternative provider; and defines success criteria for the transition.

Maintained by Gerard Blokdyk

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