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MAS AI MRM

MAS Artificial Intelligence Model Risk Management information paper

MAS published Artificial Intelligence Model Risk Management: Observations from a Thematic Review in December 2024 after reviewing selected banks. The paper focuses on AI and generative-AI model controls across governance, identification, inventory, materiality, development, validation, deployment, monitoring, and third-party use. MAS later consulted on broader AI risk-management guidelines and supported an industry toolkit. This page covers the 2024 information paper and clearly separates observed good practices from binding requirements or later consultation proposals.

Published: Last updated: Last reviewed by: Model Risk Directory editorial team
Quick answer

The MAS AI MRM paper reports good practices observed in a thematic review of selected banks. It covers AI governance, inventories, materiality assessment, data, development, independent validation, deployment, monitoring, change, generative-AI risks, and third-party models. It is supervisory guidance and observed practice, not a general statutory MRM rule.

Jurisdiction
Singapore
MRM relevance
Model-specific prudential guidance
Effective date
Information paper published 5 December 2024
Issuing body
Monetary Authority of Singapore
Official reference
www.mas.gov.sg/publications/monographs-or-information-paper/

What it covers

  • Cross-functional oversight with accountable forums, updated policies, and staff capability.
  • Identification, inventory, and materiality assessment for AI models and use cases.
  • Data-quality, algorithm-selection, explainability, robustness, fairness, and stability controls.
  • Independent and proportionate validation before deployment, with monitoring after release.
  • Specific consideration of generative-AI behavior, security, and rapidly changing model characteristics.
  • Due diligence, compensating controls, monitoring, and contingency planning for third-party AI.

Adoption status

The 2024 paper communicates supervisory observations and good practices from a thematic review. It should not be described as a final, sector-wide statutory rule. MAS consulted on proposed AI risk-management guidelines in late 2025 and released an industry AI Risk Management Toolkit in March 2026; teams should check the status of those later materials before treating them as final requirements.

Reference only. This page explains what MAS AI MRM covers; it is not a claim that Model Risk Directory or any listed vendor satisfies it. Verify alignment directly against the issuing body's own current text before relying on it.

Sources. source 1 · source 2 · source 3. Data as of 2026-07-29. See methodology.

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