MAS Technology Risk Management Guidelines are a full technology risk framework. They are not only about outsourcing. They address governance, system development, IT operations, cyber resilience, access control, incident response, cloud, and third-party technology dependency.
Official source
What MAS is trying to do
MAS expects financial institutions to manage technology risk as a core business risk. Technology systems support financial services, customer data, payments, trading, reporting, and operations. The institution needs governance, controls, monitoring, resilience, and incident response that match the importance of those systems.
What teams need to do
- Map critical systems, data, providers, users, access, and recovery requirements.
- Maintain governance over technology risk, cyber security, change, and incident response.
- Review cloud and technology providers for security, resilience, data, access, and subcontractor
risk.
- Monitor incidents, outages, advisories, vulnerabilities, and provider changes.
- Preserve evidence for control testing, remediation, and management reporting.
Evidence to maintain
- Technology risk policies and control standards.
- System, application, provider, and cloud inventories.
- Access reviews, vulnerability evidence, patching, logging, backup, and recovery records.
- Provider assurance evidence, incident records, and remediation.
- Resilience and cyber testing evidence.
Common gaps
- Provider risk is not linked to system criticality.
- Cloud services are not mapped to data and recovery needs.
- Incidents do not trigger provider reassessment.
- Evidence sits in technical tools but is not usable for governance reporting.
How Halbarad helps
Halbarad helps connect technology providers to systems, data, owners, incidents, trust-center evidence, downstream providers, issues, and remediation. It supports technology risk evidence and monitoring.
Disclaimer
This guide is for general information only and is not legal advice. Review the official regulation, guidance, and supervisory materials, and consult qualified counsel or compliance advisors for your organization's specific obligations.