OOI Chooi Ting
Fairlen is currently the Group Head of AML/CFT for OCBC Bank with oversight responsibilities for the OCBC Group, comprising OCBC Banking Subsidiaries, OCBC Non-Banking Subsidiaries and all OCBC overseas branches. The OCBC Group has entities operating in 17 countries. In addition to managing the Head Office AML/CFT and Sanctions teams, she also has oversight responsibilities on the OCBC Singapore’s Business Division Compliance Officers, including the AML Compliance Officers from the respective OCBC Banking Subsidiaries, Non-Banking Subsidiaries and Overseas Branches.
In her functional group role, Fairlen sets the strategic direction to ensure the OCBC Group maintains a robust AML/CFT & Sanctions framework that meets regulatory requirements and expectations. She is also responsible for ensuring the Group AML/CFT framework and programs are consistently rolled out to all the OCBC entities. At OCBC, she has introduced the deployment of data mining and data analytics capabilities to further strengthen the Group’s AML/CFT & Sanctions Framework. The new capability has resulted in positive outcome that contributed to additional filing of suspicious transaction activities.
Prior to joining OCBC, Fairlen held a similar functional role as Group Head of AML/CFT in UOB for approximately 11 years. She had oversight responsibilities of all UOB entities including the Banking Subsidiaries, Non-Banking Subsidiaries and overseas branches. She has been instrumental in establishing a comprehensive AML/CFT & Sanctions Framework in the Banks she had worked for as she continuously built robustness into the framework to keep up with the evolving AML/CFT & Sanctions regulatory requirements, expectations and landscape. In addition to fulfilling her functional specialist role in the banks she worked in, she is also instrumental in assisting the industry Compliance professionals continuously upkeep their AML/CFT competency and knowledge by participating in the development of training topics for both the ABS and the ACAMS Singapore Chapter. In addition, Fairlen has been an active participant in the Wolfsberg Forum where senior AML/CFT specialists from the financial industry worldwide congregate to discuss emerging money laundering, terrorist financing or sanctions threats and risks as well as enhanced programs to combat money laundering and terrorist financing threats.