MAS sets up Technology Group, makes management changes

Image courtesy of MAS

The Monetary Authority of Singapore (MAS) has announced new senior management appointments and changes to its organisational structure. The senior management appointments are part of an ongoing process to renew and strengthen MAS’ leadership bench. The organisational changes will help strengthen synergies across key capabilities or functions in MAS. All the appointments and organisational changes below will take effect from 1 May 2019 unless otherwise stated.

As part of the changes, MAS will form a new Technology Group (TG). The TG will comprise the Data Analytics Group, Information Technology Department as well as the Technology & Cyber Risk Supervision Department. The formation of TG will concentrate MAS’ technology capabilities under a single group, to drive MAS’ digital transformation, enable a more integrated approach to providing technology solutions and systems, and strengthen supervision of continually evolving technology risks in the financial sector. Mr Vincent Loy will be appointed Assistant Managing Director (Technology).  Mr Loy will be joining MAS from Accenture Singapore, where he was the Managing Director and Financial Services Leader.  Prior to that, he led PricewaterhouseCoopers UK’s Financial Services Technology Risk practice.  Mr Loy will report to Mr Ong Chong Tee, Deputy Managing Director (Financial Supervision) and Mr Chia Der Jiun, Deputy Managing Director (Corporate Development) as TG supports financial sector supervision as well as MAS’ digital transformation. 

Mr Lawrence Ang, currently Executive Director (Information Technology), will be re-designated as Chief Information Officer to better reflect the functions he has been performing as Head of Information Technology department.