IT Compliance
The focus on empowering business through technology has risen and plays an important role in all businesses.
With the exponential increase in data and sharing, proper cyber hygiene is required to secure an organization’s sensitive data and prevent them from being compromised.
NEX CorporateIT has a repertoire of IT compliance services that are designed to aid business managers in ensuring their technology infrastructure and cyber security posture meets both regulatory requirements and industry best practices.
As an IT managed service provider focused on IT compliance & solutions for Financial Institutions, our synergy in such integration in business consultation on IT compliance has been unparalleled. NEX CorporateIT, as an Outsourced Service Provider Audit Report (OSPAR) accredited service provider, empowers you to focus on your business while we ensure that your internal IT processes and management are always aligned to the Monetary Authority of Singapore (MAS) Technology Risk Management (TRM) Guidelines and IT Outsourcing Guidelines.
MAS TRM Guidelines:
The Technology Risk Management (TRM) Guidelines are a set of best practices, set by the Monetary Authority of Singapore (MAS), to guide financial institutions (FIs) on how to manage technology risks, including what sort of security measures and controls they should put in place to address such technology risks.
MAS expects FIs to observe and comply with the TRM guidelines, which will be taken into account in their risk assessments of the institute.
With fast developments in the technology and cyber threat landscape, MAS has recently revised its TRM guidelines for 2021. Their enhanced expectations on FIs compliance standards include:
- Establishing sound, robust technology risk governance and oversight
- Effective cyber-surveillance
- Secure system and software development
- Adversarial attack simulation exercise
- Management of cyber risks posed by emerging technologies such as the Internet of Things (IoT)
NEX consultants will work with you to create an IT cyber security strategy and manage your Risk Controls. We help organizations to be operationally efficient, empowering their businesses and maximizing their return on technological investments.
Our IT compliance services can help organizations in:
- Developing a customised cyber strategy that aligns people, processes, and technology with enterprise business priorities and risks
- Addressing dynamic cyber security and compliance environments
vCIO & vCISO
MAS updated the TRM guidelines on 18th January 2021. The update sets out additional requirements for financial institutions to appoint a CIO (Chief Information Officer) and a CISO (Chief Information Security Officer) to be accountable for managing technology and cyber risks. As most FIs do not have sufficient expertise to manage the internal IT AND the IT compliance requirements that are expected of a CIO/ CISO, NEX CorporateIT offers the option of becoming an organisation's 'Virtual' security consultant.
NEX CorporateIT’s team of professionals can fulfil both your CIO and CISO requirements through a vCIO(Virtual CIO)/ vCISO(Virtual CISO) arrangement.
Speak to us to find out more.
Vulnerability Assessment
Vulnerability Assessment is a non-intrusive approach that identifies all the security weaknesses within a specific IT infrastructure. As part of our IT compliance solutions, NEX's security consultants and engineers will work on understanding your infrastructure, before performing a Vulnerability Assessment based on industry best practices. We will then work with you to ensure that all the vulnerabilities identified are resolved and mitigated; and thereafter, generate a report for your review.
Gap Analysis
Unsure if your organization is aligned to the TRM guidelines?
A gap analysis is critical to help an organisation understand how they are dealing with IT compliance and regulatory requirements. As achieving compliance with the TRM guidelines is a complex task for most firms as most firms do not have a dedicated IT compliance team, NEX can assist, advise and advance their IT compliance journey.
Through in-depth gap analysis, we will be able to determine the material gap between the current security practices and controls. NEX can help your organization prioritize a roadmap of actionable items to close the gap swiftly.
Adoption of IT Compliance Standard
Given the ever-changing cyber security landscape, business managers often worry about how to further harden their IT security and improve their cyber security posture.
Through the adoption of a globally recognized standard such as the NIST (National Institution of Standards and Technology) and CIS (Center for Internet Security) Benchmarks, firms can trust that their systems are aligned with industry best practices and have assurance on alignment towards relating compliance issues.
NEX’s CISA – Certified Information Systems Auditor(s) can help you choose and adopt the best-fit IT compliance standard, to perfect the balance between operational requirements and cyber security.
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7000 Ang Mo Kio Avenue 7
Singapore 569877
