HSBC hires Singapore head of resilience risk as job function becomes even more critical for banks

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HSBC hires Singapore head of resilience risk as job function becomes even more critical for banks

Dominic Boh has joined HSBC as head of resilience risk for Singapore as the bank steps up its hiring in risk and security-focused functions in the midst of Covid-19. He previously spent two years as head of governance and assurance, in the group technology information security office (TISO) at OCBC, according to his LinkedIn profile.

An HSBC spokesperson confirmed Boh’s move, adding that his Singapore-head role is newly created. He reports functionally into the Asia Pacific head of resilience risk, and from a Singapore business perspective into the head of operational and resilience risk for Singapore.

In the UK, HSBC appointed a head of resilience risk in May last year when Cameron ‘Buck’ Rogers joined its London office from the Bank of England, where he had been chief information security officer.

Rogers’ appointment followed a string of high-profile IT service outages among UK banks, while Boh joins HSBC as usage of its digital platforms surges during the pandemic, making it more vulnerable to cyber attacks. For example, HSBC announced last week that users of its PayMe app, Hong Kong’s most popular e-wallet, have increased 25% year-on-year to reach 2m.

Covid-19 has increased the importance of banks’ resilience risk teams, which focus on non-financial risks and are typically also tasked with planning for and responding to crisis situations. Ensuring the safety of offices as employees return to work is also likely to be on their agenda.

Boh is not the only person HSBC has hired in the broader risk and security space in Asia recently. As we were the first to report in April, the bank took on Jonathan Scott-Lee from Standard Chartered’s virtual bank Mox as its chief information security officer for Asia Pacific.

Boh was at Standard Chartered in Singapore from 2015 to 2018, working in digital banking technology audit, before he moved to OCBC in June 2018. Prior to Stan Chart, he spent just under three years as a vice president at Deutsche Bank, focused on investment banking technology audit.

Image: unsplash

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