The Monetary Authority of Singapore (MAS) has operational autonomy. Under the MAS Act, the Board of Directors of MAS is appointed by the President. The Chairman of the Board is appointed by the President on the recommendation of the Cabinet.
The Board of Directors is responsible for the policy and general administration of the affairs and business of MAS and informs the Government of the regulatory, supervisory and monetary policies of the MAS. The Board is ultimately accountable to the Parliament of Singapore through the Minister-in-charge of MAS.
Mr Lawrence Wong
Mr Gan Kim Yong
Mr Heng Swee Keat
Coordinating Minister for Economic Policies
Mr Alvin Tan
Ministry of Culture, Community and Youth
Mr Peter Ong Boon Kwee
Board Member (Chairman of Risk Committee)
Mr Chaly Mah
Board Member (Chairman of Audit Committee)
Mr Lim Hng Kiang
Professor Tan Chorh Chuan
Permanent Secretary (Public Sector Science and Technology Policy and Plans Office), Prime Minister's Office
Chairman, Agency for Science, Technology and Research
Mr Lucien Wong
Mrs Deborah Ong
Mr Ng Wai King
Mr Chia Der Jiun
The Chairman's Meeting makes decisions on major changes to the regulatory framework and supervisory policies. The Meeting also approves major changes to policies and strategies relating to financial centre development, international and regional relations, and payment and settlement systems operated by MAS.
The Monetary and Investment Policy Meeting deliberates and decides on issues relating to the formulation and implementation of monetary policy with the objective of maintaining price stability for sustainable economic growth. The Meeting also oversees the investment of MAS' reserves.
The Audit Committee provides an independent assessment of MAS' internal controls and financial reporting process. The Committee also reviews the efforts of MAS' internal and external auditors. The Audit Committee comprises Mr Chaly Mah (Chairman), Mrs Deborah Ong and Mr Ng Wai King.
The Risk Committee provides oversight and guidance on the management of risks faced by MAS. The Committee oversees the MAS-wide risk management framework, and reviews MAS' risk management policies and the processes for reporting of risks. The Risk Committee comprises Mr Peter Ong (Chairman), Professor Tan Chorh Chuan, Mrs Deborah Ong, Mr Ng Wai King, Mr Chia Der Jiun and Mr Quek Gim Pew (non-Board member).
The Staff Committee approves the appointment, promotion and compensation of senior management staff. The Committee also approves key personnel policies, including overall pay policy.