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Singapore's MAS sets up Data Analytics Group

First Published 14th February 2017

Monetary Authority of Singapore's Data Analytics Group to unlock insights, enhance the supervision of financial institutions, make regulatory compliance more efficient, and improve efficiency.

Ravi Menon, MAS

Ravi Menon, MAS

Singapore - The Monetary Authority of Singapore (MAS) has announced the formation of a new Data Analytics Group (DAG) effective 15 March 2017. The move is part of MAS' broader efforts to ready itself and the financial sector for the digital economy of the future.

MAS has appointed Dr David Roi Hardoon as its Chief Data Officer and Head of DAG. Dr Hardoon, who has a PhD in machine learning, joins MAS from Azendian Solutions.

DAG will comprise three units.

  • Data Governance & Architecture Office (DGA) will formulate data management policies, manage data collection and quality, maintain MAS' data catalogue, and publish MAS' official statistics.
  • Specialist Analytics & Visualisation Office (SAV) will conduct data analyses in partnership with MAS departments. It will help departments improve their data capabilities through reusable tools and code libraries, and partner MAS Academy to deliver data analytics training programmes. Together with MAS' IT Department, the team will design and implement the technical infrastructure needed to support data analytics work in MAS.
  • Supervisory Technology Office (SupTech) will conduct data analyses on supervisory and financial sector data in partnership with MAS departments. It will work with the Fintech and Innovation Group to promote data analytics capabilities within the financial industry and foster innovations to make regulatory compliance more efficient and effective.

Ravi Menon, MAS Managing Director, said, "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."