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ReportFinanceSingaporeReported

MAS publishes good practices for AI model risk management at banks

See how this story connects

Source: Allen & GledhillAlso reported by K&L Gates

The Monetary Authority of Singapore published an information paper on AI model risk management on 5 December 2024, drawn from a mid-2024 review of selected banks. It covers generative AI and sets out good practice on oversight and governance, AI inventories and risk materiality ratings, and data, validation and monitoring standards. MAS said it was considering supervisory guidance for all financial institutions in 2025.

Why it matters

Singapore banks got a list of good practices MAS observed and encourages, and MAS said it was weighing guidance for all financial institutions on the same lines.

When
5 Dec 2024
ID
WTA-N-2024-0151
Who
Monetary Authority of Singapore
Rules involved

Summary by wheresthe.ai, from Allen & Gledhill and the reporting credited above. We could not open the primary document, so it is marked Reported. Checked against the source on 9 Oct 2026.

Read the original at Allen & Gledhill

Source copy: download the page as saved on 18 Oct 2026 (PDF). Document the source offers: document 1 (PDF). Also held by the Internet Archive.

Next stop on this Storyline: What happened nextMAS consults on AI risk management guidelines for all financial institutions

Cite this story

WTA-N-2024-0151: “MAS publishes good practices for AI model risk management at banks.” wheresthe.ai, 5 Dec 2024. https://wheresthe.ai/d/sg-mas-ai-model-risk-management-paper-2024-12/ (source: Allen & Gledhill).

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