MAS technology risk management GuidelinesTechnology riskRisk management FrameworkPwC technology risk managementTechnology risk Management FrameworkMAS Revises Technology Risk Management Guidelines
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The Monetary Authority of Singapore (MAS) has recently revised its Technology Risk Management Guidelines 2021 (“TRM Guidelines”) after ... Back Forward Save&file Vieworiginal Forward Print ShareFacebookTwitterLinkedIn Follow Pleaselogintofollowcontent. Like Instruct addtofolder: Mysaved(default) Readlater Folderssharedwithyou Registernowforyourfree,tailored,dailylegalnewsfeedservice. Questions?Pleasecontact[email protected] Register Singapore-MASRevisesTechnologyRiskManagementGuidelines BakerMcKenzie Singapore May62021 Clickheretolistentotheaudio. TheMonetaryAuthorityofSingapore(MAS)hasrecentlyreviseditsTechnologyRiskManagementGuidelines2021(“TRMGuidelines”)afterfeedbackfroma2019publicconsultationandengagingwithcybersecurityexperts. WhilethereissomeoverlapbetweentheTRMGuidelinesandtheprevious2013editionoftheTRMGuidelines(2013edition),theTRMGuidelineshavebeendevelopedprimarilytokeeppacewiththecurrenttrendsintechnologydevelopmentanddeployment. Fintechisincreasinglyplayingaverycentralroletothebusinessoperationsandplansoffinancialinstitutions.Giventhis,risksarealsoincreasingandbecomingmorecomplexascompaniesmaketechnologyacentralpartoftheirdailybusiness.Asthesectorrises,businessesandhowtechnologyisbeingusedarealsoevolving. EachFIwillhaveitsownrisksandthereforetheseriskmanagementguidelinesneedtobeappliedaccordingly,butitisalsonota“onetimefitsall.”It’snotstatic,FIscan’tdoitjustonce.Theyneedtoconstantlyevaluatetheirrisksandriskmanagementprinciplestoberelevant,giventheconstantlyevolvinglandscape. Contentisprovidedforeducationalandinformationalpurposesonlyandisnotintendedandshouldnotbeconstruedaslegaladvice.Thismayqualifyas"AttorneyAdvertising"requiringnoticeinsomejurisdictions.Priorresultsdonotguaranteesimilaroutcomes.Formoreinformation,pleasevisit:www.bakermckenzie.com/en/disclaimers. Back Forward Save&file Vieworiginal Forward Print ShareFacebookTwitterLinkedIn Follow Pleaselogintofollowcontent. Like Instruct addtofolder: Mysaved(default) Readlater Folderssharedwithyou Filedunder Singapore Banking IT&DataProtection BakerMcKenzie Topics Fintech Cybersecurity Populararticlesfromthisfirm Singapore:CourtofAppealsetsasidearbitralawardforbreachofnaturaljustice * Inreview:theproductliabilityframeworkinSingapore * Singapore-pharmaceutical&healthcarenewsletter,August2015 * Singapore:IMDAtodevelopnewSingaporeSMSSenderIDRegistry * ASEANSingleWindowandtheElectronicTransmissionofFormDamongIndonesia,Malaysia,Singapore,ThailandandVietnam * IfyouwouldliketolearnhowLexologycandriveyourcontentmarketingstrategyforward,pleaseemail[email protected]. RelatedpracticalresourcesPRO How-toguide How-toguide:HowtodealwithaGDPRdatabreach(UK) How-toguide How-toguide:HowtoreducetheriskofaGDPRdatabreach(UK) Checklist PandemicResponse–CybersecurityRemoteWorkingChecklist Relatedresearchhubs Fintech Singapore Banking IT&DataProtection
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