MAS operational risk expectations should be read with outsourcing, technology risk, BCM, cyber hygiene, and sector-specific MAS materials. This page is a practical category, not one single MAS rule named operational risk.
Official sources
- MAS Guidelines library
- MAS Guidelines on Business Continuity Management
- MAS Technology Risk Management Guidelines
What MAS is trying to do
Operational risk is the risk of loss or disruption from people, process, systems, or external events. MAS materials expect financial institutions to identify those risks, maintain controls, handle incidents, manage outsourcing and technology dependencies, and improve after failures.
What teams need to do
- Maintain an operational risk and control view.
- Connect incidents, issues, losses, technology failures, and outsourcing failures.
- Map critical services, systems, providers, and business owners.
- Track remediation and management reporting.
Evidence to maintain
- Risk and control assessments.
- Incident, issue, loss-event, and remediation records.
- Outsourcing, technology, and BCM dependency evidence.
- Management and committee reporting.
Common gaps
- Operational risk events are not connected to provider records.
- Root-cause analysis does not update controls.
- Technology and outsourcing failures are reported separately from operational risk.
How Halbarad helps
Halbarad helps connect providers, systems, incidents, issues, root cause, remediation, and reporting into one operating record.
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.