PRE-CONTRACT AND RENEWAL DUE DILIGENCE
MAS Outsourcing Due-Diligence Questionnaire for Singapore Financial Institutions
A practical assessment and remediation service
Global ITN helps financial institutions structure third-party technology reviews, collect supporting evidence and identify technical remediation work. The workflow can be delivered through KPOData without requiring the client to adopt a self-service platform.
Move beyond a static questionnaire
A due-diligence questionnaire should help the institution make a defensible decision, not simply collect a supplier’s yes-or-no responses. The review needs context about the service, the information handled, operational dependencies, subcontractors, resilience, security, incident management and exit arrangements.
KPOData can structure the questions, evidence and internal review around the institution’s methodology while Global ITN supports the technical analysis.
- Different questionnaires by provider and service type.
- Conditional questions based on data, hosting and access.
- Required documents and control evidence.
- Comments, clarifications and resubmissions.
- Internal technology, risk, legal and business review.
- Approval, exception or remediation decision.
What the questionnaire can cover
The exact content should be determined by the institution and its advisers. The workflow can support common technology and outsourcing review areas without presenting a generic checklist as universal regulatory advice.
- Corporate capability, financial viability and track record.
- Information security and privileged access.
- Data location, confidentiality and retention.
- Business continuity, recovery and incident response.
- Subcontracting and concentration dependencies.
- Audit, monitoring and reporting arrangements.
- Service transition, portability and exit planning.
Coordinate multiple internal reviewers
Outsourcing decisions often require contributions from the business owner, technology, information security, risk, compliance, procurement and legal teams. Each group can be assigned the relevant review stage while maintaining one consolidated record.
- Business owner defines the service and dependency.
- Technology reviews architecture and integration.
- Security reviews controls and evidence.
- Risk and compliance record findings.
- Legal or procurement handles contractual follow-up.
- Approvers record the final decision and conditions.
Use due diligence to create the remediation plan
Not every issue prevents the arrangement from proceeding. Some findings may be accepted, made subject to conditions or assigned for remediation before a deadline.
KPOData can retain the connection between the questionnaire response, supporting evidence, finding, risk decision and resulting action.
- Pre-contract remediation items.
- Conditions attached to approval.
- Evidence required before go-live.
- Post-implementation validation.
- Renewal or annual-review actions.
A reusable process for new and renewing arrangements
Once configured, the workflow can be reused for new providers, material changes, contract renewals and periodic reassessment. This creates more consistency than recreating the questionnaire and approval trail for every arrangement.
Frequently Asked Questions
Can we use our existing questionnaire?
Yes. The service starts with the institution’s existing questionnaire, control framework and approval process rather than imposing a generic template.
Can questions be tailored for cloud providers?
Yes. Question sets and evidence requests can be varied according to the type of provider, service and technology risk.
Can suppliers save and return to the questionnaire?
The configured workflow can support controlled external contribution and staged completion, subject to the agreed implementation.
Can incomplete responses be returned?
Yes. Reviewers can request clarification, replacement evidence or revised answers while retaining a record of the review history.
Does Global ITN review contracts?
Global ITN can coordinate the workflow and technical considerations. Legal interpretation and contract drafting should be performed by qualified legal advisers.
Turn your questionnaire into a review workflow
Share your current outsourcing or vendor due-diligence questionnaire. We will map the question logic, evidence, reviewers and approval stages needed.
