Provides financial services, in Guyana

Bank of Guyana Supervision Guideline No. 15, Technology Risk Management, paras. 6 to 8, 17, 24, 25, 76, 102, 107 to 110 and 116 · Read the law's page

• This binds licensed financial institutions (LFIs) under the Financial Institutions Act 1995, to the extent that is commensurate with each institution's size, risk profile and business model (paragraphs 6 and 7), and is reached by declaring that you provide financial services.
• Explain any deviation from the Guideline in a separate document made promptly available to the Bank (paragraph 8).
• Have your Board comprehensively understand the potential risks that technology presents to the institution (paragraph 17).
• Establish a technology risk management framework to manage technology risks (paragraph 24), able to identify the information system assets that need protection and the direct and indirect IT threats (paragraph 25).
• Implement an appropriate access controls policy for the identification, authentication and authorization of internal and external users, covering logical and physical access (paragraph 76).
• Ensure that the scope, frequency and intensity of technology audits are commensurate with the complexity, sophistication and criticality of technology systems and applications (paragraph 102).
• Notify the Bank before conducting e-banking or any other internet services for the first time, or before introducing new technology or enhancements for them, with the risk, security and independent external assurance information paragraphs 108 to 110 list (paragraph 107).