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Singapore’s banking regulator takes a pragmatic approach, taking control of the transformation program of DBS bank, following at least 6 major disruptions to services in 2023. The regulator imposed additional regulatory capital of $1.6 billion regulator in May, marked up operational risk against risk weighted assets, suspended new acquisitions and prevented the bank from reducing its physical banking infrastructure.
The steps taken by the regulator are a strong indicator of the challenges that DBS faces, a reflection on the ability of the bank to manage it own affairs and the deficiencies in the banks resilience management processes and risk management.
One wonders the effects of cybersecurity risks at a time of heightened cyber threat and the organizations ability to manage cyber risk?
(https://lnkd.in/e-iSuzym.)
Ted Dziekanowski Brian D. McCarthy Bob Dix Rachel V. Rose, JD, MBA
#theagustagroup #cybersecurity #resilience #cyberriskmanagement
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