TRM in FinTech: Governance
Take out the T from TRM, and what do you get? Risk Management. That's what all this jazz is about: identifying, evaluating and putting together a framework of guidelines to mitigate those risks.
When it comes to risk management, regulators are a big fan of the Risk-Based approach. This means that risks are to be identified, assessed and treated.
Here’s your starting point. Curate a dedicated Risk Committee, who can go on to establish a Risk Management Policy, composed of the following directives:
- The Board authorizes the formation of the Management Committee and the Risk Committee;
- Everyone is responsible for identifying risks;
- The Risk Committee is responsible for assessing and communicating risks;
- The Board is accountable for deciding on how to treat the risks;
- The Management Committee will collectively implement risk controls.
Read more as our Chief Technology Officer, Samuel Bourque details the journey of how TRM is implemented to mitigate any possible risks in the business. 🙌
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