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System Risk Assessment Generator for Singapore

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Key Requirements PROMPT example:

System Risk Assessment Template

I need a System Risk Assessment Template for our new cloud-based financial management platform that complies with Singapore's MAS guidelines, with particular focus on third-party vendor risks and data protection requirements for implementation in January 2025.

Document background
The System Risk Assessment Template serves as a standardized framework for organizations operating in Singapore to evaluate and document technological risks in their information systems. This document is essential for compliance with Singapore's regulatory requirements, particularly the Cybersecurity Act 2018 and PDPA 2012. It enables organizations to systematically identify potential threats, assess vulnerabilities, evaluate impacts, and develop risk treatment plans. The template is designed to align with both local regulatory requirements and international risk management standards, making it particularly valuable for organizations seeking to maintain robust risk management practices while ensuring regulatory compliance.
Suggested Sections

1. System Information: Basic details of the system being assessed, including architecture and components

2. Risk Assessment Methodology: Description of the approach and criteria used for risk assessment

3. Threat Identification: Analysis of potential threats to the system

4. Vulnerability Assessment: Evaluation of system vulnerabilities and weaknesses

5. Impact Analysis: Assessment of potential business impact of identified risks

6. Risk Treatment Plan: Proposed measures to address identified risks

Optional Sections

1. Compliance Analysis: Assessment against specific regulatory requirements - use when system is subject to specific regulatory frameworks

2. Third-Party Risk Assessment: Evaluation of risks from external vendors/partners - use when system involves third-party components or services

3. Data Protection Impact Assessment: Specific assessment of data protection risks - use when system processes personal data

Suggested Schedules

1. Risk Assessment Matrix: Detailed matrix showing risk calculations and ratings

2. System Architecture Diagrams: Technical diagrams showing system components and interactions

3. Control Framework Mapping: Mapping of controls to specific risks and compliance requirements

4. Test Results: Results of security testing and vulnerability assessments

5. Action Items Register: Detailed list of required remediation actions and their status

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



































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Industries

PDPA 2012: Personal Data Protection Act - Primary legislation governing the collection, use, disclosure, and care of personal data in Singapore

Cybersecurity Act 2018: Framework for the protection of Critical Information Infrastructure (CII) and regulation of cybersecurity service providers in Singapore

Computer Misuse Act: Legislation addressing computer crimes and unauthorized access to computer material

Electronic Transactions Act: Legal framework for electronic transactions and digital signatures in Singapore

MAS TRM Guidelines: Monetary Authority of Singapore's Technology Risk Management Guidelines for financial institutions

MAS Notice on Cyber Hygiene: mandatory requirements for financial institutions to implement essential cybersecurity practices

PDPC Advisory Guidelines: Detailed guidance on interpreting and implementing PDPA requirements

DPIA Guide: PDPC's Guide to Data Protection Impact Assessments for systematic evaluation of data protection risks

ISO 27001: International standard for information security management systems

ISO 31000: International standard providing principles and guidelines for risk management

SS 584: Singapore Standard for cloud service security and management

SS 540: Singapore Standard for business continuity management systems

GDPR Compliance: European Union's General Data Protection Regulation requirements if handling EU data

Healthcare Services Act: Specific requirements for healthcare providers handling medical data and systems

CII Requirements: Specific cybersecurity requirements for Critical Information Infrastructure sectors under the Cybersecurity Act

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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