Notice 126 Enterprise Risk Management (“ERM”) for Insurers
Enterprise risk management (ERM) requirements and guidelines for licensed insurers.
Guidelines
Guidelines on Risk Management Practices – Technology Risk
Risk management principles and best practice standards to guide financial institutions in managing technology risk.
Applies to:
Approved CIS Trustee
,
Dealing in Capital Markets Products
,
Product Financing
,
Providing Custodial Services
,
Licensed Fund Management Company
,
Registered Fund Management Company
,
Venture Capital Fund Management Company
,
Corporate Finance Advisory
,
REIT Management
,
Credit Rating Agency
,
Securities Crowdfunding
,
Licensed Trust Company
,
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)
,
General Insurance Agents
,
Credit/Charge Card Issuer
,
Finance Company
,
Full Bank (Branch)
,
Full Bank (Locally Incorporated)
,
Merchant Bank (Branch)
,
Merchant Bank (Locally Incorporated)
,
Wholesale Bank (Branch)
,
Wholesale Bank (Locally Incorporated)
,
Financial Holding Company (Banking)
,
Markets and Exchanges
,
Clearing House
,
Trade Repository
,
Benchmark Administrator/Submitter
,
Central Securities Depository
,
Holding Company of Exchange or Clearing House
,
Designated Payment System Operator
,
Designated Payment System Settlement Institution
,
Credit and Charge Card Licensee
,
Major Payment Institution
,
Standard Payment Institution
,
Money-changing Licensee
The 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 cyber resilience.
Resources:
- Response to Public Feedback for Consultation Paper - TRM Guidelines (728.4 KB)
- Annexes to Response to Public Feedback for Consultation Paper - TRM Guidelines (1.61 MB)
- Instructions on Incident Notification and Reporting to MAS
- FAQs – Notice on TRM
- Response to Public Feedback for Consultation Paper – Notice on TRM (481.8 KB)
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