Bank Negara Malaysia has appointed Jessica Chew as Deputy Governor for a three-year term effective 1 January 2018. She will be replacing Dr. Sukudhew (Sukhdave) Singh, overseeing financial sector regulation and development including payment systems, organisational development sector and centralised shared services.
Chew is currently the Assistant Governor responsible for the development of regulations and policies in the banking and insurance sectors focusing on efficiency, innovation, market institutions and structures, development finance and talent development. She is also responsible for payment systems development and regulation and oversight of the money services business.
She is the Chairman of the Finance Accreditation Agency (FAA), a member of the Board of Directors of the Credit Counselling and Debt Management Agency (AKPK) and Credit Guarantee Corporation Malaysia Berhad, a member of the International Association of Insurance Supervisors’ (IAIS) Technical Committee and is also an advisor to the Malaysian Accounting Standards Board (MASB).
Chew has over 20 years of experience in financial sector regulation and supervision in which she was involved in the development of the Financial Sector Master Plan (FSMP) (2001-2010) and subsequently the Financial Sector Blueprint (2011-2020).
She was also involved in the formulation of the financial sector liberalisation strategy as part of the World Trade Organisation (WTO) and Free Trade negotiations. Puan Jessica was also directly involved in the development of various human capital development strategies for the Malaysian financial sector which had led to the establishment of several initiatives including the Financial Sector Talent Enrichment Programme (FSTEP) and the Financial Institutions Directors’ Education Programme (FIDE) as well as directly contributed towards the enactment of the Financial Services Act (FSA) 2013.
Chew joined the Bank in 1993 and holds a Bachelor Degree in Commerce majoring in accounting and finance from University of Melbourne, Australia.
In line with her appointment, Deputy Governor Encik Abdul Rasheed Ghaffour has also been selected to oversee the monetary and economics sector, supervision sector, investment and operations sector as well as LINK and BNM Offices, Finance and Legal departments.