Mr Ong Chong Tee was appointed MAS’ Deputy Managing Director overseeing Financial Supervision from September 2013. He is responsible for the integrated supervision of the banking, insurance and securities industries. Prior to this, Mr Ong was Deputy Managing Director overseeing the central banking functions of monetary policy, markets and investments, as well as the development functions.
The Financial Supervision cluster comprises:
(a) Banking & Insurance Group that oversees the Banking and Insurance supervision departments, as well as the Anti-Money Laundering Department;
(b) Capital Markets Group that oversees the supervisory functions of the Capital Markets licensees, Markets Policy and Infrastructure, Corporate Finance and Consumer departments. This Group also includes MAS’ Enforcement Department;
(c) Policy, Risk & Surveillance Group that oversees the Macroeconomic Surveillance, Prudential Policy and Specialist Risk departments, including cyber-security and market risks.
(d) Data Analytics Group that supports the development of digital and analytical capabilities.
Mr Ong joined MAS in 1986. He was Representative of MAS New York Office from 1991 – 1994.
Mr Ong was awarded the Public Administration (Gold) Medal in August 2007 by the President of Singapore