Regulatory Alerts2019-06-24
Technology Risk Management Guidelines
The Central Bank of The Bahamas mandates that all licensed banks and trust companies establish a comprehensive technology risk management framework to safeguard data confidentiality, integrity, and availability. Licensees must ensure Board and Senior Management oversight, implement continuous risk identification and assessment processes, and enforce stringent security controls over IT outsourcing and system development life cycles. The guidelines further require regular monitoring, executive reporting of key risk metrics, and the integration of security measures throughout technology investments to mitigate operational and reputational exposures.
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