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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
Authors
Risk Assessment
Risk Management
Control Measures
Hazard
Likelihood
Impact
Risk Rating
Residual Risk
Risk Appetite
Risk Tolerance
Risk Owner
Risk Register
Critical Risk
Material Risk
Inherent Risk
Risk Mitigation
Risk Treatment
Control Environment
Key Risk Indicator (KRI)
Risk Matrix
Risk Profile
Business Unit
Responsible Person
Stakeholder
Compliance
Due Diligence
Internal Control
Monitoring
Review Period
Risk Assessment Team
Safety Management System
Workplace
Near Miss
Incident
Risk Assessment Process
Roles and Responsibilities
Risk Identification
Risk Analysis
Risk Evaluation
Control Measures
Monitoring and Review
Documentation Requirements
Reporting Procedures
Emergency Response
Compliance Requirements
Confidentiality
Record Keeping
Training Requirements
Audit Procedures
Review and Updates
Risk Communication
Escalation Procedures
Business Continuity
Data Protection
Governance Structure
Resource Allocation
Performance Measurement
Incident Management
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