What It Is

ISO 30301:2019 (Information and documentation — Management systems for records — Requirements) is an international certifiable standard specifying requirements for a Management System for Records (MSR). It applies to any organization to ensure reliable evidence of business activities supports mandate, strategy, and goals. Adopts High-Level Structure (HLS) with risk-based PDCA approach via Clauses 4–10, plus records-specific operations in Clause 8 and Annex A (normative).

Key Components

• Governance pillars: context, leadership, planning, support, operation, evaluation, improvement (Clauses 4–10).
• Operational controls: records creation, processes, systems (Clause 8, Annex A).
• Core principles: authenticity, reliability, integrity, usability.
• Conformity models: self-declaration, external confirmation, third-party certification.

Why Organizations Use It

Enhances compliance, auditability, risk mitigation (loss, alteration), efficiency in retrieval/disposition. Builds stakeholder trust, integrates with ISO 9001/27001. Strategic for regulated sectors (finance, healthcare, public).

Implementation Overview

Phased: gap analysis, policy/roles design, operational controls, training, audits. Scalable for any size/industry; 9–18 months typical. Certification optional via accredited bodies.

What It Is

MAS Technology Risk Management (TRM) Guidelines (revised January 2021) are supervisory guidelines issued by the Monetary Authority of Singapore (MAS) for financial institutions. They provide a principles-based framework for managing technology and cyber risks, emphasizing governance, resilience, and proportional implementation based on risk profile and complexity to protect confidentiality, integrity, and availability (CIA).

Key Components

• 15 main sections covering governance, risk frameworks, secure development, IT operations, resilience, access controls, cryptography, cyber defense, testing, and audit.
• Synthesised into 12 core principles like board accountability, asset management, third-party oversight.
• No fixed control count; focuses on outcomes with continuous improvement.
• Compliance via supervisory review, no formal certification.

Why Organizations Use It

• Meets MAS supervisory expectations for licensed FIs, avoiding enforcement.
• Enhances cyber resilience, operational stability, and customer trust.
• Supports digital transformation with secure-by-design practices.
• Builds competitive edge through robust risk metrics and assurance.

Implementation Overview

• Risk-based rollout: asset inventory, governance setup, control mapping, testing.
• Applies to all MAS-supervised FIs; scalable by size/complexity.
• Involves board approval, training, audits; 12-24 months typical.