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Corporate Services Department
Currency Department
Finance Department
General Counsel’s Office
Human Resource Department
Information Technology Department
Internal Audit Department
Strategic Planning Office
Tapping International Expertise
Enhancing our Systems and StructuresAssessing the Control Environment in MAS
The Strategic Planning Office (SPO) is leading a comprehensive review of the MAS Act. The review, conducted in two phases, will enable MAS to meet the operational challenges ahead and to carry out its functions more effectively. The first phase amendments came into effect in January 2004. Work is underway on the second phase amendments.

Key events organised by SPO which help shape MAS’ priorities and strategies include:
MAS International Advisory Panel (IAP) meeting which brings together some of the world’s leading financial experts to advise MAS on financial sector strategies.
Corporate planning retreats for management.
Annual staff seminar where the Chairman and Managing Director communicate the
broad corporate priorities for the year ahead.
SPO conducted the Organisation Climate Survey in July 2003 to take stock of our organisational health (See Box 22).

The Frequent Flying Minds (FFM) staff suggestion scheme was enhanced to allow staff to make online redemption of points earned. SPO continued with initiatives to motivate staff to harness creative thinking in the course of their work. These include the quarterly innovation bulletin – i-News, the Innovation Speaker Series, the i-Awards and the FFM awards for outstanding staff suggestions.

In the year ahead, SPO will focus on strengthening organisational effectiveness. Key projects include enhancing MAS’ performance measurement framework and the clarity of our decision-making framework.
Enhancing Risk-focused Supervisory Approach
Box 1 – Fostering a Sound and Progressive Financial Services Sector
Enhancing MAS’ Supervisory Capabilities
Box 2 – Stress Testing of Life Insurers
Box 3 – Streamlining Inspection Function
Thematic Inspections to Improve Surveillance