Singapore's OCBC Bank has announced the appointment of Goh Chin Yee, currently the head of group audit, as the group chief financial officer to succeed Darren Tan who has opted for early retirement. 

The new appointment takes effect from 1 November 2022. 

Chin Yee, who is already a member of the management committee, will also be appointed a member of the management executive committee, the bank said in a statement on Monday.

Chin Yee joined OCBC Bank as a management trainee, rising through the ranks across many divisions, including corporate planning, investment research, asset management, finance, risk management and global treasury. 

She was responsible for the successful Basel II implementation for credit risk-weighted assets solution, credit economic capital model and pillar 2 internal capital adequacy assessment process across the OCBC Group. 

Chin Yee also led the global management information services project to provide risk-adjusted performance measurements across business and customer segments, products and geographies to enhance decision-making for performance and capital management.

She was appointed head of group audit in 2013. Under her leadership, the audit function has been transformed in the way it is conducted across the group, using data analytics, machine learning technology and robotic process automation for enhanced risk insights, audit effectiveness and efficiency.

 “Chin Yee’s appointment reflects OCBC’s strong internal talent base for succession planning. Chin Yee is highly regarded as a strong leader with an innovative and forward-looking mind. Throughout her different roles in OCBC, Chin Yee has always pushed for greater heights in achieving excellence and differentiation. The management executive committee will undoubtedly benefit from Chin Yee’s deep institutional knowledge and broad exposure across many disciplines,” said Helen Wong, group CEO of OCBC Bank, welcoming Goh to the management executive committee 

“We want to thank Darren for his contribution to the group over the past 11 years as the CFO. He led several successful strategic acquisitions which have added both scope and scale to the OCBC franchise,” Wong added. 

Tan was appointed chief financial officer of OCBC Bank in 2011. In 2014, he led the successful acquisition of Wing Hang Bank in Hong Kong, a significant milestone for the Bank’s expansion strategy into Greater China.