With the acceleration of digital transformation across industries including the financial industry, the reliance on technology is eminent over the spectrum of large corporations, all the way to small and medium enterprises. A series of widespread cyberattacks which headlined the media, including the trojan-style supply chain attack on SolarWinds Orion, reflected the need for higher standards of Technology Risk Management (“TRM”) from the adoption of new technology and use of existing technology within the organization.
The Technology Risk Management Guidelines (“the Guidelines”) that was last revised in 18 January 2021 by MAS, set out the expectations for FIs on risk management principles and best practices through enhanced technology risk governance and oversight, and cyber resilience. FIs must also meet the mandatory requirements set out in the Notice on Technology Risk Management and Notice on Cyber Hygiene issued by MAS.
Our experienced speaker will cover the following topics during this session:
- Overview of MAS Technology Risk Management Guidelines
- Cybersecurity Risk Trends - International case studies
- Technology Risk Management Framework - Governance, Process and Integration
- Main Takeaways
Speaker Profile:
Lim Boon Hung
Director, Tricor Axcelasia Sdn Bhd
Boon Hung is an IT security specialist with over 15 years of experience in IT (Security services & Project Management), risk and internal controls advisory services. His experience cuts across various industries and businesses including government-linked companies, financial institutions, oil & gas, technology and manufacturing industries.
Among his many achievements include leading Business Transformation Project for a government agency that manages corporate registry activities, Technology Refresh for a national oil & gas custodian and solutions company, Regional Penetration Testing for a global banking institution, Security Transformation for a national religious fund board, and assisting in the Server Audit for a government agency that administers the national deposit insurance system.
His other notable experiences include serving as the Managed Security Services (MSS) security consultant for various financial institutions including banks and insurers, and selected as a project manager for the upgrading of 30,000 Windows users as well as designated as the Technical Manager for the implementation of GPS tracking system for the national oil & gas company. His latest journey involved him providing audit and consulting services for fintech companies where he assessed the technology risks to comply to regulatory body requirements.
Ong Su Faye
Associate Director, Tricor Axcelasia (SG) Pte Ltd
Su Faye has a special focus on governance risk & compliance. She has led and completed risk management and internal audit engagements at more than 50 companies across various sectors including financial services, property and construction, natural resources and mining, oil & gas, logistics, education, healthcare, manufacturing, and other services. Her engagements extend beyond Singapore, including Malaysia, Laos, Vietnam, Cambodia, China, Norway and etc.
She has conducted numerous risk management trainings and risk awareness sessions, and facilitated multiple risk assessment, risk action planning and key risk indicator workshops. She has also conducted risk maturity assessment for an organisation’s internal risk management department, develop ERM policies and procedures, setting of risk parameter, assist to identify and assess key strategic and business risks, establishing and monitoring the implementation of risk action plans, as well as identification of key risks indicators.