KUALA LUMPUR: Bank Negara Malaysia's assistant governor, Jessica Chew Cheng Lian, has been appointed deputy governor for a three-year term effective Jan 1, 2018.
The central bank said on Tuesday the Minister of Finance has approved Chew's appointment.
She assumes the position of deputy governor following the retirement of Dr Sukudhew (Sukhdave) Singh as deputy governor on Dec 31, 2017.
As deputy governor, Chew will be responsible for 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.
Chew is a member of Bank Negara Malaysia’s Monetary Policy Committee and the Financial Stability Committee.
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 Bhd, a member of the International Association of Insurance Supervisors’ (IAIS) Technical Committee and is also an advisor to the Malaysian Accounting Standards Board (MASB).
In line with the appointment of Chew as deputy governor on Jan 1, 2018, effective on the same date, deputy governor Abdul Rasheed Ghaffour will oversee the monetary and economics sector, supervision sector, investment and operations sector as well as LINK and BNM Offices, Finance and Legal departments.