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Part II
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Operational Risk
Operational Risk
Medium
Pemberton Bank outsources its core payment processing to FinServe Technologies. Under regulatory expectations for third-party risk management, which statement is most accurate?
A
Pemberton remains fully accountable for payment processing performance and compliance, despite outsourcing the activity to FinServe
B
FinServe assumes regulatory accountability for payment processing once the outsourcing agreement is executed
C
Regulatory liability is shared equally between Pemberton and FinServe under the outsourcing arrangement
D
The bank's regulator cannot examine FinServe because it is not a regulated financial institution
Select an answer to continue
Tags
#third-party-risk
#outsourcing
#regulatory-accountability
#vendor-management
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