Governance
TRMF (Technology Risk Management Framework)
Board‑approved framework for managing technology risk.
Definition
A formal, board‑approved Technology Risk Management Framework that sets out an FI’s technology risk appetite, governance arrangements, roles and responsibilities, control standards and reporting requirements; the PD mandates embedding the TRMF into enterprise risk management and maintaining governance oversight and documentation.
Related Terms
technology risk
Risks arising from use of information technology and systems....
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Lifecycle controls for development, validation and use of models....
AI TRiSM
Trust, Risk, and Security Management program for AI systems....
critical systems
Systems whose failure would materially impair essential services....
AI RMF (Artificial Intelligence Risk Management Framework)
Voluntary NIST guidance for identifying and managing AI risks....