AI Risk Management and Governance for Risk and Control Functions


OPERATIONALISING AI GOVERNANCE IN FINANCIAL INSTITUTIONS

AI Risk Management and Governance for Risk and Control Functions

MAS proposed AI Risk Management Guidelines (Nov 2025) place explicit, non-delegable accountability on the board, senior management, and AI governance committees — even for AI procured from vendors or cloud providers.

Source: MAS Consultation Paper on AI Risk Management, 2025; MAS Project MindForge Operationalisation Handbook, 2026

AI sits at the intersection of data science, business units, and IT — creating ownership ambiguity that traditional governance models were not built to resolve. MindForge’s response: formalised accountability at board, senior-management, and AI-governance-committee level.

Source: MAS Project MindForge Toolkit, 2026

Designed for professionals in the 2nd and 3rd lines of defence in Financial Institutions — risk, compliance, legal and audit personnel, collectively the “Custodians” per the MindForge Handbook.

The course explains what AI governance and AI risk management are, and develop participants’ ability to operationalise them within a real financial institution— by integrating AI-specific risks into the frameworks, controls and governance forums the institution already runs, rather than building a parallel structure.

Format

Hybrid

Programme Start Date

TBC

Duration

11.5 hours

Who is this programme for?

This programme is ideal for:

    • Compliance, legal, and governance professionals responsible for applying AI policies and ensuring ethical AI use

    • Risk and internal audit professionals in the second and third lines of defence overseeing GenAI and Agentic AI adoption

This programme is also relevant for:

    • Senior managers and team leads accountable for compliant and risk-aware AI adoption within their functions

Programme Learning Outcomes

ethical-ai

Illustrate the fundamentals of AI risks and Ethical AI frameworks in the context of financial services governance

leadership

Adopt organisational-level risk management frameworks to incorporate AI-specific risks and controls

detection

Examine the role of custodians in identifying, escalating, and managing AI-specific risks within their areas of accountability

blockchain

Apply case-level risk management framework to address AI-specific risks across the end-to-end AI lifecycle

Programme Fees

Course Code: TGS-2026066594

ELIGIBLE INDIVIDUALS Singapore Citizens &
Permanent Residents aged 21 and above
Singapore Citizens aged 40 years and above
COURSE FEE SGD 776.60¹ SGD 491.60²

¹50% capped at S$3,000 per participant per course
²70% capped at S$3,000 per participant per course

This course has been accredited under the IBF Standards: Future-Enabled Skills and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met.

Participants are advised to assess the suitability of the course and its relevance to his/her business activities or job roles. The IBF-STS is available to eligible entities and individuals based on the prevalent funding eligibility, quantum and caps. IBF-STS provides up to 70% course fee subsidy support for direct training costs subject to a cap of S$3,000 per candidate per course subject to all eligibility criteria being met.

Find out more on www.ibf.org.sg

About IBF Certification

This course addresses the following Technical Skills and Competencies (TSCs) and proficiency level:
Basic – Generative AI Regulatory, Legal, and Risk Mat Compliance (SFW-BAS-0010-0.0)

Participants are encouraged to access the IBF MySkills Portfolio (https://www.ibf.org.sg/home/for-individuals/resource-tools/myskills-portfolio) to track their training progress and skills acquisition against the Skills Framework for Financial Services. You can apply for IBF Certification after fulfilling the required number of Technical Skills and Competencies (TSCs) for the selected job role.

Find out more about IBF certification and the application process on https://www.ibf.org.sg/home/for-individuals/ibf-certification/why-be-ibf-certified

Programme Details

E-learning (Asynchronous)

Physical Workshop (Synchronous)

* The curriculum is subject to changes to reflect the evolving advancements in AI and the needs of financial services industry.

Programme Director

Chia-Tek-Yew

Prof. Tek Yew Chia  LinkedIn

Senior Advisor, Boston Consulting Group

Prof. Tek Yew Chia is a leading voice in financial services and digital innovation, with over 30 years of experience spanning strategy, technology, and regulation across Asia and the Middle East. He is Adjunct Professor and Advisor at the NUS Asian Institute of Digital Finance, and formerly Vice Chairman of Oliver Wyman Singapore and Head of Financial Services Advisory in KPMG Singapore.

Prof. Chia is concurrently a Senior Advisor in Boston Consulting Group (BCG) and also serves as an advisor to the ASEAN Bankers Association (ABA) and the Global Finance and Technology Network (GFTN – a spin-off from the Monetary Authority of Singapore). A sought-after speaker, he brings sharp insights on the future of finance at the intersection of policy, technology, and business.

READY TO EMBARK ON YOUR JOURNEY?