Guidelines
 Published Date: 01 March 2013

​​Guidelines on Risk Management Practices – Board and Senior Management

Guidelines on the role that a financial institution's Board of Directors and senior management play in risk management.
Applies to: Full Bank (Locally Incorporated) , Full Bank (Branch) , Wholesale Bank (Branch) , Wholesale Bank (Locally Incorporated) , Finance Company , Merchant Bank (Locally Incorporated) , Merchant Bank (Branch) , Direct Insurer (Life) , Direct Insurer (General) , Direct Insurer (Composite) , Reinsurer (Life) , Reinsurer (General) , Reinsurer (Composite) , Captive Insurer , Lloyd's Asia Scheme , Financial Holding Company (Insurance) , Dealing in Capital Markets Products , Product Financing , Licensed Fund Management Company , Corporate Finance Advisory , REIT Management , Registered Fund Management Company , Credit Rating Agency , Securities Crowdfunding , Venture Capital Fund Management Company , Exempt Futures Broker , Exempt OTC Derivatives Broker , Providing Custodial Services , Exempt Corporate Finance Adviser Serving Accredited Investors , Approved CIS Trustee , Exempt Trust Company , Licensed Trust Company , Exempt Person Providing Trust Services , Markets and Exchanges , Clearing House , Benchmark Administrator/Submitter , Holding Company of Exchange or Clearing House , Central Securities Depository , Trade Repository , Credit/Charge Card Issuer , Major Payment Institution , Standard Payment Institution , Money-changing Licensee
View Document ​​Guidelines on Risk Management Practices – Board and Senior Management (348.7 KB)

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.