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BSP Circular 808 Compliance for Third-Party Risk Management

Automated service provider assessments, Material Outsourcing tracking, and continuous monitoring for Philippine financial institutions.

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BSP Circular 808 Compliance with ComplyScore®

The Bangko Sentral ng Pilipinas (BSP) Circular 808 establishes the Outsourcing Risk Management Framework requiring banks and quasi-banks to conduct comprehensive due diligence on service providers and maintain ongoing oversight throughout outsourcing relationships.

ComplyScore® automates service provider risk assessments aligned to BSP Circular 808 requirements, tracks Material Outsourcing arrangements triggering enhanced oversight obligations, and generates audit-ready documentation proving systematic outsourcing risk management.

How ComplyScore® Accelerates BSP Circular 808 Compliance

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Section V.A: Pre-Outsourcing Due Diligence

BSP Circular 808 requires financial institutions to conduct comprehensive due diligence before entering outsourcing arrangements, evaluating service provider capability and risk profile.

  • Automated service provider assessments evaluating operational capacity, financial stability, and security controls
  • Risk-based classification identifying Material Outsourcing per BSP criteria
  • Pre-outsourcing due diligence documentation proving systematic risk evaluation
  • Complete audit trails for BSP examinations demonstrating vendor selection rationale
BSP CIRCULAR 808 (PHILIPPINES)

Section V.D: Material Outsourcing Designation

BSP requires Board approval and enhanced oversight for Material Outsourcing arrangements that could materially impact business operations or regulatory compliance.

  • Automated Material Outsourcing designation tracking based on criticality assessment
  • Board approval workflows routing Material arrangements for governance oversight
  • Material Outsourcing register maintenance for regulatory reporting requirements
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Section VI: Ongoing Monitoring and Review

BSP Circular 808 mandates continuous monitoring of service provider performance, periodic reviews, and incident reporting throughout outsourcing relationships.

  • Real-time service provider performance tracking and incident alerts
  • Automated review scheduling ensuring periodic assessments per BSP requirements
  • Service Level Agreement (SLA) monitoring with breach notification workflows
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Audit-Ready Documentation

BSP examinations require evidence proving systematic outsourcing oversight, Board governance, and incident management.

  • Centralized evidence repository linking assessments to BSP Circular 808 requirements
  • Complete audit trails documenting due diligence, Board approvals, and monitoring activities
  • One-click compliance packs for BSP regulatory examinations and Pillar 2 reviews

Built for BSP and Regional Financial Regulations

ComplyScore® integrates with your GRC stack and supports multiple ASEAN regulatory frameworks simultaneously.

Every service provider assessment includes complete audit trails with timestamps, Board approval documentation, and Material Outsourcing designation evidence. Support for BSP Circular 808, MAS TRM Guidelines, RBI Outsourcing, and other regional standards means one platform handles multi-jurisdiction financial compliance.

Connects across your GRC and ISMS tools

 

  • GRC Platforms: ServiceNow, Archer, LogicGate

  • Risk Intelligence: SecurityScorecard, RiskRecon for service provider security monitoring

  • Banking Systems: Integration with core banking platforms for operational risk tracking

Results Organizations Achieve with ComplyScore

Project-completed

4-6X

faster ISO 27001 readiness

Project-completed

90%+

supplier coverage

Project-completed

40%

Less audit
prep

Project-completed

Continuous

compliance maintenance