What is the MAS-TRM ?
The Monetary Authority of Singapore-Technology Risk Management guidelines (MAS-TRM) are guidelines established by the Monetary Authority of Singapore (MAS), which is the central bank and financial regulatory authority of Singapore.
The MAS-TRM guidelines set out risk management principles and best practices to guide financial institutions to establish sound and robust technology risk governance and oversight, as well as maintain IT and cybersecurity and cyber resilience. The MAS-TRM applies to financial institutions.
The guidelines contain 12 sections and several appendices that review critical areas, including Board and Senior Management, Management of third parties and System and software development.
This solution will facilitate the implementation of MAS-TRM.