MAS conducted thematic inspections on the operational risk management standards and practices of selected banks, with a focus on third party risk management. The paper sets out MAS’ supervisory expectations, good practices, improvement areas and case examples observed from the inspections.

MAS conducted a thematic review on selected financial institutions’ (FIs) implementation of Fairness Principles in their use of Artificial Intelligence / Machine Learning (AI/ML). The paper highlights observations from the review of the FIs’ policies and governance frameworks to meet the Fairness objectives under the FEAT Principles, and their implementation effectiveness in actual AI/ML use cases. It sets out MAS’ recommendations, good practices and illustrative examples observed from the review.

The information papers on environmental risk management for banks, insurers and asset managers provide an overview of the progress made in implementing the MAS Guidelines on Environmental Risk Management.