Building and Managing Client's Technology Risk Function
About the client
The client, MO is an established solutions vendor for risk and regulatory reporting.
Over the last few years, its solutions have expanded to provide Software-as-a-Service (SaaS) and Platform-as-a-Service (PaaS) in addition to its traditional on-premise product.
As its service grows, the Client required expertise to manage Technology Risk for its cloud services. MO must meet different regulatory and control requirements for its on-premise and cloud environments.
Managing technology risks for both platforms requires the involvement of experienced senior risk management professionals. The client did not have enough resources and capabilities in-house to manage its technology risks in the cloud. As such, they decided to outsource this to Pragma's Risk and Compliance Consultant to support the technology risk management process for their cloud solution.
Pragma's Risk and Compliance Consultant provided expertise as and when required, from day-to-day risk management tasks to driving risk management strategy. Our activities include:
- Conduct risk reviews, maintain the risk register, assess new risks, and facilitate quarterly risk management meetings
- Led a special project to establish policies and provide training related to sensitive data segregation
- Assess use of tools to enhance automation on managing risks
MO also entrusted Pragma to support its other business functions, such as:
- Coordinate MO’s business continuity and disaster recovery activities for its cloud business
- Support the CSO function for security initiatives and requirements, such as creating cyber incident plans
- Coordinate audit activities
Outsourced risk has yielded significant time and cost savings for MO as they can tap onto a pool of experienced resources as and when required. MO also demonstrated compliance to relevant regulatory and industry standard requirements pertaining to risk management.
By outsourcing risk to Pragma and relying on our expertise, MO gained significant cost and time savings.
Pragma helped MO achieve compliance to regulatory and industry standards regarding risk management.
Pragma's expertise helped MO with their risk management tasks and improved their risk management strategy.
Case Study: Technical Review on Third-party Risks For Insurer
Case Study: Establishing Compliance with SOC 2 Security Implementation
Trusted Cybersecurity Partner
Pragma is a CREST approved global provider of cybersecurity solutions. We help organisations strengthen cyber resilience and safeguard valuable information assets with a pragmatic approach.
Currently, Pragma is the trusted partner of some of the world's most successful organisations across a wide range of industries, including 4 of Forbes Most Valuable Brands, 3 of Singapore's Hottest Fintechs, the Best Global Crypto Exchange and 10 of the Top 100 Insurance Companies.
Headquartered in Asia and Europe, and with regional offices around the world, we provide Cyber and Regulatory Consultancy, Incident Response, Cloud Security and Security Testing services.
What Our Clients Say
“The service, the clarity of understanding of the regulation and recommendations improved our platform.”
No-Surprise Competitive Fees
We get our cost structure right so that the fees proposed to you are transparent and competitively priced without impairing our objectivity and quality.
A Solution For You
We understand that no one business is identical. Our solutions are bespoke and aim to empower your business with the right tools and technology to grow.
This means having a collaborative approach while working with your team and listening to you.
The team dedicated to you has deep cybersecurity knowledge and experience across financial services, technology, media, telecommunication and government agencies.
“Choosing a cybersecurity solution partner is like going to a tailor. There’s no one size that fits all. At Pragma, solutions are tailored for your organisation.”
- Geoff and Manish, co-founders of Pragma