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Firm Risk Assessment Template
Need a Firm Risk Assessment Template for our Singapore-based fintech startup that specifically addresses cybersecurity risks and regulatory compliance with MAS guidelines, to be implemented by March 2025.
1. 1. Introduction and Scope: Purpose of risk assessment and scope of application, including regulatory compliance requirements under Singapore law
2. 2. Risk Assessment Methodology: Systematic approach to identifying and evaluating risks in accordance with Workplace Safety and Health (Risk Management) Regulations
3. 3. Risk Categories: Classification and assessment of different risk types including operational, financial, strategic, compliance, and regulatory risks
4. 4. Risk Evaluation Criteria: Metrics and parameters for risk evaluation, aligned with MAS Guidelines and industry standards
5. 5. Control Measures: Existing and proposed risk mitigation strategies, including compliance with relevant Singapore legislation
1. Industry-Specific Risk Factors: Additional risks specific to the company's industry and relevant regulatory requirements
2. Environmental Risk Assessment: Environmental impact considerations under the Environmental Protection and Management Act
3. Technology Risk Assessment: IT and cybersecurity risks assessment in compliance with the Cybersecurity Act and MAS Technology Risk Management Guidelines
4. Data Protection Risk Assessment: Assessment of data protection risks and compliance measures under PDPA
1. Schedule 1: Risk Assessment Matrix: Template for risk likelihood and impact evaluation as per WSH Risk Management Guidelines
2. Schedule 2: Control Measure Checklist: Detailed list of control measures and their implementation status
3. Schedule 3: Incident Report Template: Standard format for reporting risk incidents and regulatory breaches
4. Schedule 4: Review Schedule: Timeline for periodic risk assessment reviews and updates
5. Appendix A: Regulatory Framework Reference: List of applicable Singapore laws, regulations, and guidelines relevant to risk assessment
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