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MAS names new chief cybersecurity officer

THE Monetary Authority of Singapore (MAS) on Thursday said it has appointed Tan Yeow Seng as chief cybersecurity officer (CCSO) - a new position in the organisation - as one of three changes to its senior management team.

Mr Tan will hold this appointment concurrently with his role as executive director (technology risk and payments department).

The CCSO will help to strengthen the cyber resiliency of the MAS and the financial sector. Mr Tan's responsibilities will include setting cyber resiliency standards and overseeing their implementation, said the MAS in a media statement.

The head of the policy, risk and surveillance group Wong Nai Seng will leave the MAS in early 2018 to pursue other interests. His role as assistant managing director (policy, risk and surveillance) will be taken over by Loo Siew Yee, the current executive director (banking department I). Mr Wong oversaw prudential policy, macro-surveillance and specialist risk supervision.

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"Nai Seng has given 22 years of outstanding service to MAS," said MAS managing director Ravi Menon in a statement. "Nai Seng oversaw the implementation of the Basel III capital and liquidity reforms in Singapore. He also helped to shape the growing area of macro-prudential surveillance and supervision in MAS. We are grateful to Nai Seng for all that he has done and wish him the best in his future pursuits."

The assistant managing director (banking and insurance), Chua Kim Leng, has requested to relinquish his role to take up an advisory position. Mr Chua will be appointed as special adviser (financial supervision group). His position will be filled by Ho Hern Shin, executive director (insurance department).

The changes will take effect on Dec 1, 2017.