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
worlds leading financial experts to advise MAS on
financial sector strategies.
Corporate planning retreats
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
Enhancing Risk-focused Supervisory Approach
Box 1 Fostering a Sound and Progressive
Financial Services Sector