Financial Services Supplemental Terms Compliance FAQ

This document is to help SAP suppliers navigate through Financial Services requirements Download the Document

Financial Services Supplemental Terms ComplianceFAQ Document for SupplierPUBLICSupplier Management Program @ SAPFinancial Services Supplemental Terms ComplianceFAQ Document for SupplierVersion 1.0
Financial Services Supplemental Terms ComplianceFAQ Document for Supplier© 2024 SAP SE or an SAP affiliate company. All rights reserved. See Legal Notice on www.sap.com/legal-notice for use terms, disclaimers, disclosures, or restrictions related to this material. 2 / 13Document Identification:Document Owner:GPO / GFSS / CTrOVersion: Status: Date:1.0 Final 15.02.2024Change History:Version: Change date: Changed by: Main Change:0.1 30.11.2023 Züleyha Özalp Draft0.5 30.11.2023-15.02.2024RTO/CTrO/CISA/PMO/GFSS/GPO Review1.0 15.02.2024 Züleyha Özalp Final
Financial Services Supplemental Terms ComplianceFAQ Document for Supplier© 2024 SAP SE or an SAP affiliate company. All rights reserved. See Legal Notice on www.sap.com/legal-notice for use terms, disclaimers, disclosures, or restrictions related to this material. 3 / 13Table of contents1. What is Financial Services Regulatory Compliance? ........................................................................ 42. Why is this questionnaire required? ......................................................................................................... 43. What are FS Subcontractors (critical subcontractors)?................................................................... 44. What is the intent of a List of FS Subcontractors?.............................................................................. 45. Representative in the EU ............................................................................................................................... 46. Company Profile PDF ...................................................................................................................................... 57. Why are regular updates to the List of FS Subcontractors required? ....................................... 58. How to fill the FS Subcontractor Questionnaire ................................................................................. 68.1 General Subcontractor Information ........................................................................................................................................ 68.2 EU Representative Details ............................................................................................................................................................. 98.3 FS Subcontractor Level and Parent Details.................................................................................................................... 108.4 Supplier Details .................................................................................................................................................................................. 118.5 Example of a completed FS subcontractor questionnaire.................................................................................. 129. Contacts for questions ................................................................................................................................. 13
Financial Services Supplemental Terms ComplianceFAQ Document for Supplier© 2024 SAP SE or an SAP affiliate company. All rights reserved. See Legal Notice on www.sap.com/legal-notice for use terms, disclaimers, disclosures, or restrictions related to this material. 4 / 13Supplier Management Program @ SAPFinancial Services Supplemental Terms ComplianceThe purpose of this document is to provide additional information to service providers who have received arequest to complete the Financial Services (FS) Regulatory Compliance Questionnaire.1. What is Financial Services Regulatory Compliance?SAP’s FS customers are subject to strict outsourcing regulations. One example is the European BankingAuthority (EBA) Guidelines on outsourcing arrangements (EBA/GL/2019/02). These guidelines outline acomprehensive approach to the outsourcing of services, including software and cloud services, by financialinstitutions in the EU.2. Why is this questionnaire required?SAP is committed to helping FS customers follow their regulatory requirements and to do so, SAP providestransparency into FS Subcontractors in the supplier chain. The questionnaire is required to identify the List ofFS Subcontractors in the supplier chain.3. What are FS Subcontractors (critical subcontractors)?A third-party providing services to SAP (directly or indirectly as a Subcontractor) will be considered an “FSSubcontractor” under SAP’s Financial Services Supplemental Terms (“FSST”) if a service outage and/orunavailability of the sub-outsourced service provided by the third-party would adversely impact its ability toprovide the Service to SAP. To put it in a nutshell: FS Subcontractors are those suppliers that SAP uses in thedelivery of its Services to FS Customers.4. What is the intent of a List of FS Subcontractors?SAP will disclose and make available the list of FS Subcontractors to FS customers using a subscriptionprocess in the customer-facing portal SAP Support Portal.5. Representative in the EUIf the Supplier is located outside the European Union, it must name in the questionnaire a representativelocated in the EU for the purpose of receiving notifications from the FS Regulators.If the Supplier is unable to designate an EU-based Representative, SAP under certain circumstances may actas the EU representative but only for the purpose of forwarding notifications to the Supplier.
Financial Services Supplemental Terms ComplianceFAQ Document for Supplier© 2024 SAP SE or an SAP affiliate company. All rights reserved. See Legal Notice on www.sap.com/legal-notice for use terms, disclaimers, disclosures, or restrictions related to this material. 5 / 136. Company Profile PDFFS customers have due diligence obligations and oftentimes require SAP to share service providerinformation upon request. Please refer to SAP Corporate Fact Sheet as an example.7. Why are regular updates to the List of FS Subcontractors required?FS customers have an obligation under applicable financial services outsourcing requirements to conductongoing risk assessments of their IT outsourcing relationships, including all levels of the supply chain. SAP iscontractually obligated to provide FS customers with lists of FS Subcontractors and to notify FS customers ofany changes or additions to the list. As such, SAP requires its FS Subcontractors to provide updates to anyplanned new or changed subcontracting. Although completion of the FS Regulatory ComplianceQuestionnaire will be required at regular intervals, FS subcontractors are still required, per the terms of theFSST, to provide SAP of notice of any planned or new sub outsourcing at least 120 days in advance.