As digital transformation accelerates, business teams—not just IT—must play a central role in managing technology risk. This course empowers 1st Line, Business Control Officers (BCOs), and other non-IT professionals to understand and address technology risk, cyber threats, and operational vulnerabilities in their day-to-day roles.
Overview
This course breaks down key digital risks in a business context, from cyber threats and system failures to third-party vendor risks. Participants will learn how to spot early warning signs, understand their role in tech change management, and evaluate digital initiatives with a risk-aware mindset.
On completion of the course, you will be able to:
- Identify and manage technology risks relevant to business functions
- Understand MAS TRM Guidelines and apply them in your role
- Monitor risks in digital transformation and third-party arrangements
- Make smarter delivery and sourcing decisions as non-IT stakeholders
Who should attend
Ideal for business professionals, BCOs, and risk owners who support or oversee technology-enabled processes:
- Relationship managers, sales, and front-office staff
- Operations and Product Managers
- 1st Line Risk and Control Functions
- Project and Change Managers
- Frontline business teams in digital-enabled roles
Methodology
The training blends real-world case studies (e.g., Novopay, FormSG), MAS expectations, and practical frameworks for decision-making. Participants will engage in simulated tech risk scenarios and apply group problem-solving methods to develop treatment strategies.
Trainer
This course is led by a risk and technology advisor with cross-sector experience in implementing digital risk frameworks and aligning non-IT business teams with TRM guidelines. The trainer bridges the gap between risk, compliance, and operational execution in digital environments.
Module – 1
Understanding Technology Risk in the Business Context.
- What is technology risk and why it matters
- MAS Technology Risk Management (TRM) Guidelines: Overview
- Categories of tech risk: system failures, data loss, cyber breaches
- How digital risk affects customer trust, operations, and compliance
Module – 2
Cyber Threats Every Business Team Should Know.
- Phishing, malware, ransomware, social engineering
- Access control risks: password misuse, privilege escalation
- Secure use of mobile and remote working technologies
- Role of non-IT staff in preventing cyber attacks
Module – 3
Risks in Digital Transformation and Legacy Systems.
- Digital transformation: opportunities vs. risks
- Value creation vs. operational disruption risks
- Reputational and regulatory risks of failed IT projects
- Case study: Novopay (New Zealand’s failed payroll system)
- Risks of doing nothing: outdated legacy systems and poor integration
Module – 4
The Role of BCOs and 1st Line in Managing Tech Change.
- What BCOs must oversee during tech implementations
- 1st Line responsibilities in system testing, UAT, and change management
- Escalating issues and reviewing control failures in digital rollouts
- Embedding digital risk into existing risk and control assessments
Module – 5
Monitoring Outsourced Technology and Third-Party Risk.
- MAS expectations on third-party and cloud vendor management
- Risks of outsourced IT support, cloud computing, and data handling
- Key controls: SLAs, performance monitoring, data ownership
- Incident response and accountability with external
Providers
Module – 6
Smarter Technology and Delivery Decisions for Non-IT Teams.
- Build vs. Buy: Bespoke vs. Off-the-shelf solutions
- Proprietary vs. Open Source software
- In-house vs. Outsourced vs. Hybrid models
- Case examples: FormSG (Singapore), Notify (UK)
- Avoiding “tech for the sake of tech” decisions
Module – 7
Practical Risk Management Mindset in Digital Projects.
- Start small, test early, fail safely
- Don’t automate broken processes
- Managing vendor risk without losing control
- Leadership and culture impact in digital change
- Avoiding hype and focusing on long-term value
Module – 8
Assessing and Solving a Technology Risk Scenario.
- Analyze a simulated case of system failure, cyber breach, or third-party lapse
- Identify risk root causes and impacted business functions
- Develop a mitigation and escalation plan
- Group presentations and feedback discussions
