The Monetary Authority of Singapore (MAS) has created a new position in senior management which will play an important role in strengthening the cyber resiliency of the central bank and the financial sector.
Mr Tan Yeow Seng was named chief cyber security officer. His responsibilities will include setting cyber resiliency standards and overseeing their implementation. Mr Tan will hold this appointment concurrently with his role as executive director (technology risk and payments department).
This and other senior management changes take effect on Dec 1.
Ms Ho Hern Shin, the executive director (insurance department), will be appointed as assistant managing director (banking & insurance).
She will take over the position from Mr Chua Kim Leng, who is relinquishing the role to take up an advisory position. Mr Chua will be appointed as special advisor (financial supervision group).
Ms Loo Siew Yee, the executive director (banking department I), will be appointed as assistant managing director (policy, risk & surveillance). She will take over from Mr Wong Nai Seng, who will leave the MAS early next year to pursue other interests.
MAS managing director Ravi Menon said: "Nai Seng has given 22 years of outstanding service to MAS. 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."