Enterprise risk management (ERM) requirements and guidelines for licensed insurers.
Guidelines on Risk Management Practices – Board and Senior Management
These guidelines apply to all financial institutions (FIs) in Singapore. They highlight the corporate governance roles of the FI’s Board of Directors and senior management in ensuring a sound risk management culture and environment.
The guidelines cover:
- Board and senior management’s roles and responsibilities pertaining to risk management.
- Risk culture and risk appetite.
- Risk management systems and framework.
- Reporting to MAS.