SINGAPORE: The Monetary Authority of Singapore (MAS) is setting up a new Data Analytics Group (DAG) from Mar 15. The move is part of MAS’ broader efforts to help position itself and the financial sector for the digital economy of the future, it said in a news release on Monday (Feb 13).
Heading the DAG is Dr David Roi Hardoon, who will be MAS' chief data officer. 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, MAS said.
The DAG will be made of three units:
The Data Governance and Architecture Office will formulate data management policies, manage data collection and quality, maintain MAS’ data catalogue, and publish MAS’ official statistics
The Specialist Analytics & Visualisation Office will help departments improve their data capabilities through reusable tools and code libraries, and partner MAS Academy to deliver data analytics training programmes.
The Supervisory Technology (SupTech) Office 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.
Said MAS managing director Ravi Menon: “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.”