What are MAS' Technology Risk Management (TRM) Guidelines and does it apply to my fund?
According to MAS (Guidelines)
last revised on 18 January 2021
The aim of the MAS Technology Risk Management Guidelines is to promote the adoption of sound and robust practices for the management of technology risk. The FI ("financial institution") should establish a risk management framework to manage technology risks. Appropriate governance structures and processes should be established, with welldefined roles, responsibilities, and clear reporting lines across the various organisational functions.
"The TRM guidelines apply to all FIs that MAS regulates, ranging from large ones like banks, insurers and exchanges to small ones like venture capital managers and payments services firms."
Source: Kroll LLC, last revised on 05 April 2021