Good Conduct and Effective Conduct Surveillance: A Singapore Perspective

January 21, 1:00 pm EST

In recent years, a key focus of the Monetary Authority of Singapore (MAS) supervisory agenda has been on elevating financial institutions' (FIs) standards on culture and conduct. This has been exemplified by the issuance of the final Guidelines on Individual Accountability and Conduct in September 2020, giving banks and other financial institutions one year for implementation.

FIs in Singapore have likewise been working to elevate organisational standards for ethical behaviour, including by enhancing performance management, risk governance, and incentive structures. Notably, some banks have also taken steps towards establishing real-time behavioural monitoring tools to help them assess conduct risk levels within their organizations.

In this webinar, NICE Actimize and Regulation Asia, our expert panelists discussed the legal, regulatory, and business costs of complacency, as well as the new capabilities Singapore FIs are looking to achieve. Our speakers will also cover the technology and data challenges involved with developing the tools needed to monitor behaviour, measure conduct risk and evaluate success.

  • The cost of complacency: risk, reputation, reprimand, remediation
  • Defining success: What does good culture and conduct look like?
  • Developing methodologies, validating models, and achieving explainability
  • Monitoring and measuring behaviour: What tools do you need?
  • Data governance: What data is needed and how to ensure quality
  • Technology and infrastructure options: on-premise, cloud, outsourced?

During the webinar, we also surveyed attendees about their views on drivers of misconduct and how they monitor for conduct issues. You can view the survey results here.

Moderator :

Manesh Samtani
Moderator & Editor
Regulation Asia

Panelists :

Paul Cottee
Subject-Matter Expert Director,
Financial Market Compliance, 
NICE Actimize

Kok Seong Chan
Group Chief Risk Officer
United Overseas Bank

Nizam Ismail
Founder & CEO
Stephen Scott
Founder & CEO

About NICE Actimize
NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators. Consistently ranked as number one in the space, NICE Actimize experts apply innovative technology to protect institutions and safeguard consumer and investor assets by identifying financial crime, preventing fraud and providing regulatory compliance. The company provides real-time, cross-channel fraud prevention, anti-money laundering detection, and trading surveillance solutions that address such concerns as payment fraud, cybercrime, sanctions monitoring, market abuse, customer due diligence and insider trading.
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