Fairlen Ooi

Head, Group AML/CFT
OCBC Bank

IBF Fellow (2019)

Compliance

"An effective Compliance Officer must possess a high level of integrity. A really good officer should also be forward-looking, have strong risk assessment skills, be able to think critically, have an acute eye for details, have a global perspective on issues, and work well under pressure."

Biography

​Fairlen Ooi is the Group Head of AML/CFT for the OCBC Group and has oversight responsibilities of the AML/CFT and Sanctions Compliance for the OCBC Group of entities.  She sets the strategic direction in ensuring the Group maintains a robust AML/CFT & Sanctions framework that meets regulatory requirements and expectations at International standard level.  These framework and programmes are consistently implemented at an enterprise level to all the OCBC Banking and Non-Banking Subsidiaries, including all the overseas branches.​

At OCBC, Fairlen introduced data analytics, artificial intelligence, network and transactional link analysis via the deployment of technology into the AML/CFT monitoring and investigation platform as a continuous effort to enhance crime detection and investigations. In addition, she was also instrumental in the successful launch of Project POET (Production Order Electronic Transmission), where OCBC collaborated with Commercial Affairs Department (CAD) to enable law enforcement authorities to obtain critical data electronically from the Bank for the purpose of investigation in a fraction of the time that is needed today. The digitised data also enables the Bank to make use of technology to analyse data for purpose of combating financial crime in the Bank's Anti-Money Laundering Risk Management Programme.

Fairlen joined OCBC Bank in 2017 as a Group Head of AML/CFT.  She started her banking career as an Auditor in DBS Bank before she moved on to the AML/CFT Compliance department.  Subsequently, she moved on to head the Group AML/CFT & Sanctions role in UOB where she spent her next 11 years building the AML/CFT & Sanctions Framework and Programme. In addition to her day-to-day work as an AML Compliance Officer, Fairlen is also an active participant in the Singapore industry where she co-chaired the ACIP working committee for both the Trade Based Money Laundering when she was in UOB; and ACIP Misuse of Legal Persons in OCBC. She was also actively involved in the ABS Financial Crime Seminars programme development and participated as a panellist in the Wolfsberg Forum held in Switzerland and Singapore forums organised by IBF, ACAMS, SIBOS and ABS. 

Fairlen holds a Bachelor Honours degree with double majors in Finance Law; and Information Systems & Quantitative Analysis from Portland State University, Oregon, USA.