The Monetary Authority of Singapore (MAS) announced the formation of a new Data Analytics Group (DAG) with effect from 15 March 2017. This move is part of MAS’ broader efforts to help position itself and the financial sector in Singapore for the digital economy of the future.
DAG will lead MAS’ efforts to harness the power of data analytics to unlock insights, enhance the supervision of financial institutions, make regulatory compliance more efficient for financial institutions, and improve work efficiency across the organisation.
The Data Analytics Group (DAG) hence formed will comprise of three units namely:
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Ravi Menon, MAS Managing Director, said, “The digitisation of information and the harnessing of data from multiple platforms have created the opportunity to use data analytics to understand the economy and the financial system with a depth that was not possible before. MAS is committed to building strong capabilities in data analytics to seize this opportunity. Our new Data Analytics Group will work with the financial industry to sharpen the surveillance of risks, and with the various departments within MAS to transform the way we do our work.”
MAS has appointed Dr David Roi Hardoon as its Chief Data Officer and Head of DAG. Dr Hardoon joins MAS from Azendian Solutions, where he was the co-founder and Executive Director, Chief of Analytics. He has a PhD in machine learning, as well as a deep research background and extensive experience in developing and applying analytical models. He will report to Mr Ong Chong Tee, Deputy Managing Director (Financial Supervision).
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