Guide / Toolkit

RTS Risk Management Guide

Combining technical and operational mechanisms to mitigate security breach in value chain
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This document discusses the ‘'Risk Management System' of the '‘Remote Transaction System (RTS) Solution'. The document describes the combination of technical and operational mechanisms put in place across the RTS value chain to mitigate security breaches that could result in a loss for any of the parties in the value chain - clients, agents or the MFI.It is primarily intended for the executive management team of a financial institution and for regulatory bodies. It:

  • Assumes that financial institutions use independent third parties as agents;
  • Aims to demonstrate that the risks to MFIs introduced by the ‘RTS Solution can be effectively mitigated and monitored.

Identifying various kinds of risks, the paper:

  • Describes the main aspects of risk management - prevention, detection and remediation;
  • Describes the ‘transaction process flow;
  • Explains the risk management system;
  • Highlights the importance of an MFIs management information system (MIS).

The paper concludes by listing best practices and providing a summary of RTS risk management.

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