ANNUAL REPORT 2002 / 2003


ORGANISATIONAL INITIATIVES

STRATEGIC PLANNING OFFICE

A Better Integrated and More Focused Organisation

The Strategic Planning Office (SPO) was created in 2002 to give better focus to MASí longer term strategic planning capabilities. Shaped out of the former Planning, Policy and Communications Department, the Office takes the lead in setting corporate priorities, strategies and initiatives that best serve MASí objectives.

Key events organised by SPO which are significant in shaping MASí priorities and strategies include:

Apart from serving as the secretariat to the Board and management fora, SPO is committed to building a culture that will make MAS a more cohesive and integrated organisation. To this end, the SPO manages organisational development and innovation initiatives such as:

One key development last year was the organisational restructuring to closely align MASí resources with its objectives. In September 2002, new departments were formed and existing departments reconstituted. The aims were to:

The global financial industry continues to consolidate and converge. Institutions are becoming larger and more complex. Traditional divides between banks, insurers and securities firms are blurring. In a 1998 restructuring, MASí supervisory departments were pulled together under the Financial Supervision Group. Last yearís organisation changes took this effort a step further by integrating MASí prudential and market conduct policy functions across banking, securities, and insurance. This gives us a more comprehensive view of risks posed by complex institutions.

In pursing macroeconomic stability, a sound financial system, and the development of Singapore as an international financial centre, MAS has to continuously sharpen its focus and better align resources with objectives. The new organisational structure will bring together departments and divisions with synergies, and make responsibilities and accountabilities clearer.

Shaping and implementing policy will become more challenging given the rapidly changing economic and financial landscape. MAS will need leadership at all levels with the right experience, technical expertise, analytical rigour, and sound judgement. The new organisation structure will allow young and aspiring officers to assume larger and more challenging responsibilities.

In the year ahead, SPO will continue to play a pivotal role in enhancing MASí corporate systems and structure. This includes enhancing MASí performance measurement framework. SPO will also conduct MASí second Organisational Climate Survey to gather staff ís views on organisational issues. This feedback will be used in setting next yearís organisational priorities.

 

Strategic Planning Office Currency Department Human Resources Department Corporate Services Department
Finance Department Information Technology Department Internal Audit Department Partnering the International Financial Community

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