Singapore Monetary Authority after one year consultation released a Technology Risk Management Guideline. It is a major overhaul of the last version which was published in 2008. For sure, the banking industry and banking technology changed a lot with the omnipresence of 3G network and mobile devices.
As part of my job is to implement TRM in FI, I will write out my comments and observations in the coming posts. But first let us take a 3000 feet view of this document. A few text analysis tool and visualization graphic will do the job.
The first graph is a word cloud which shows high frequency keywords. FI means Financial Institutions. Most of the words are general IT terms like data and systems. But should notice that “ensure” appears in a relative big size !!
The left graph show the three selected keywords: Ensure, Access and Recovery. The peaks of access and recovery show that although they are used often, this keyword mainly used in one particular chapter.