RT Compliance Risk Management Process in Singapore – Framework & Implementation
Key Steps in the Risk Management Framework by RT Compliance
- Identify risks risks and vulnerabilities (aligned with MAS guidelines)
- Assess risks impact and likelihood for regulatory compliance
- Develop and implement plans for mitigating enterprise and operational risks
- Control risks through regulatory risk assessment and response measures
- Monitor, review, and report risks in accordance with MAS compliance risk management standards
The RT Compliance risk management process helps financial institutions and regulated businesses in Singapore effectively identify, assess, manage, and monitor risks. This process aligns with MAS risk management expectations, including requirements under MAS TRM (Technology Risk Management) and MAS Notice N21. Our approach covers compliance, operational, regulatory, and cyber risk management to help clients build resilience and meet ongoing MAS compliance obligations.
Risk management involves identifying potential threats and taking steps to address them before they can cause harm. It also involves identifying any vulnerabilities that could be exploited by malicious actors, as well as understanding how these vulnerabilities could affect the organization. This knowledge allows companies to create plans for dealing with the different risks they face.
The goal of risk management is to ensure that an organization can continue operations in the event of negative outcomes from threats or vulnerabilities
Risk management processes typically include:
Identifying potential risks and vulnerabilities
Assessing potential consequences of those risks and vulnerabilities
Creating plans for responding to identified threats
Implementing these plans when necessary
Why Choose RT Compliance for Enterprise Risk Management in Singapore
RT Compliance provides financial institutions in Singapore with trusted frameworks that help them meet their MAS requirements. We provide assistance to clients in rolling out plans that manage the wide range of potential issues, including those from cyber risk to operating safely, selection of trustworthy partners and complying with the law. MAS expects banks, fintechs, insurance providers and fund managers to follow the newest regulations. Our consultants guide clients to do just that. Regardless of if you hope to implement a full risk governance structure or a single compliance program, RT Compliance can achieve your future goals with scalable solutions.
Benefits of Partnering with RT Compliance
A partnership with RT Compliance helps Singapore’s financial and regulated organizations get quick access to comprehensive risk management services aligned with the rules set by MAS. Our services help organisations overcome challenges from regulations, so they can stay strong, well governed and continue their activities.
In Singapore, we have experience in providing enterprise risk management consulting, proved in asset management, fintech, insurance and banking areas. Our strategies for MAS TRM, MAS Notice N21 and regulatory risk assessment are both compliant and can meet your firm’s needs at any stage.
Our team of consultants has in-depth knowledge of dealing with compliance, operational risks, risk due to cyber events, overseeing third-party risks and handling data protection rules. RT Compliance will assist with both making solid risk management plans and implementing a wholesome compliance program that address the needs of regulators.
Handing your risk and compliance tasks over to RT Compliance will help you save resources, avoid unnecessary expenses and direct your firm efficiently—while enjoying rest when handling issues following Singapore’s rules. RT Compliance offers the perfect solutions to manage your risks for future growth and profitability.
