While the Monetary Authority of Singapore (MAS) has issued risk management guidelines for banks and FIs for many years, the Technology Risk Management (TRM) guidelines expand the breadth of impact and scope for these institutions:
- The TRM guidelines affect all systems within the IT environment
- FIs other than banks fall within the scope of TRM
- TRM has legal implications due to reporting notices
In short, TRM affects a broad set of firms, and a broad set of systems within those firms. Reporting requirements, both internally and to MAS, will drive significantly more powerful monitoring capabilities. While FIs have deployed multiple security and risk management solutions in recent years, many of those are unable to detect the modern threats that affect risk related to data security and protection.
Read the white paper and learn how leading financial services firms use user and entity behavior analytics capabilities to monitor their IT environments for risks.