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On March 6, 2026, the Monetary Authority of Singapore (MAS) launched a consultation on its proposed Updated Guidelines on Operational Risk Management. The consultation sets out MAS' supervisory expectations on effective operational risk management practices by financial institutions. The updated guidelines elaborate on MAS' expectations for how financial institutions should manage operational risks. Operational risk encompasses the potential for loss resulting from inadequate or failed internal processes, people, systems, or external events. The guidelines are designed to ensure that financial institutions operating in Singapore maintain robust frameworks to identify, assess, monitor, and mitigate operational risks across their operations. This includes addressing risks related to internal processes, human resources, technology systems, and external factors that could impact institutional stability and customer protection. The consultation (P003-2026) runs from March 6, 2026, to April 20, 2026, closing at 11:59 PM on the final date. Financial institutions and other stakeholders are invited to submit responses during this period. The consultation document is available for download on the MAS website. REFERENCES: Monetary Authority of Singapore. (2026). Consultation Paper on Updated Guidelines on Operational Risk Management. Retrieved from https://www.mas.gov.sg/