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Case Study

Third-party risk management compliance under MAS regulation

Healthcare Provider · IT Strategy & Compliance

IT Strategy & Compliance

Third-party risk management compliance under MAS regulation

A healthcare organisation based outside the EU was preparing to launch services in the European market. Their technology infrastructure had been built without European data protection requirements in mind, creating significant legal exposure and threatening to delay the launch by several months.

Situation

A major international bank's Singapore entity needed to significantly strengthen its outsourcing governance framework to meet both MAS regulatory requirements and internal Group/CIB/APAC TPRM standards. The organisation required a dedicated Outsourcing Coordinator to own this process end to end — deploying the framework, managing the 360 Arrangement register, coordinating across business lines and ensuring the entity's full compliance posture at both local and Group level.

Task

Act as Outsourcing Coordinator for the Singapore entity: deploy a compliant local outsourcing framework aligned with MAS regulations and Group TPRM guidelines, manage the full lifecycle of outsourcing arrangements, and serve as the primary point of contact for all outsourcing-related regulatory matters.

Action

As appointed Outsourcing Coordinator, we are responsible for deploying the local outsourcing risk management governance framework primarily following Group/CIB/APAC TPRM guidelines, adapting local policy to meet MAS-specific regulatory requirements and operational needs. We manage the 360 Arrangement register — including new arrangement creation, data quality maintenance and annual certification — coordinate TPRM compliance across all business lines, facilitate stakeholder engagement across the outsourcing governance process, and ensure standardised documentation and appropriate representation at all relevant governance bodies. We also serve as the entity's primary contact on all outsourcing-related matters with local regulatory bodies.

Result

A structured, fully documented outsourcing governance framework is in place, aligned with both MAS outsourcing regulations and Group-level TPRM requirements. All outsourcing arrangements are actively managed within the 360 register, with clear ownership, data quality controls and annual certification processes established. The entity now has a defined, audit-ready compliance posture for all third-party risk matters.

Key outcomes

MASOutsourcing regulation aligned
TPRMFull risk governance deployed
360°Arrangement register active
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