TRM in FinTech: Tech or Compliance
The big question that is surely set to ruffle some feathers: Technology Risk Management (TRM) in FinTech, is it Tech or Compliance?
TRM is Tech:
TRM is mostly a policy-making exercise — why would you expect the tech experts to be the ones drafting legalese sounding policy documents? Especially when the technology talent is usually offshore and is on contract.
TRM is Compliance:
It’s a simple proposition: Compliance’s raison d’être is to ensure regulations are adhered to. At the same time, as much as both the Tech and Compliance members can generally not be expected to interpret the TRM regulations, its rules apply to the Technology’s procedures.
So who does the responsibility ultimately lie with?
Read our Chief Technology Officer Samuel Bourque's follow-up article on the importance of TRM and who this responsibility ultimately lies with.
You can check out the article here: