Elliot Yeo is a MAS Undergraduate Scholar. He holds a Master of Science in Law and Accounting from The London School of Economics and Political Science, and a Bachelor of Laws from the National University of Singapore. Elliot is currently an Assistant Director in the Payments Department at MAS.
The Monetary Authority of Singapore (MAS) serves as the central bank and integrated financial regulator; it also plays a key role in driving Singapore’s growth as a financial hub. MAS offers a unique career proposition– exciting and purposeful work that serves Singapore’s economy by promoting financial stability, ensuring well-functioning financial markets, and facilitating the development of infrastructure, technology and skills in the financial industry.
Elliot Yeo, an Assistant Director in the Payments Department, exemplifies the motivated and excellent officers that MAS seeks. Having taken up the MAS Scholarship in 2014, Elliot is now part of a team that formulates regulatory frameworks and policies for Singapore’s payments sector.
Regulatory Work and Beyond
Elliot’s team focuses on facilitating responsible innovation and robust risk controls in a fast-growing digital payments sector. They are dedicated to maintaining public confidence in the security of digital banking and payments.
“As we build trust in the safety and soundness of Singapore’s financial sector, this in turn ensures the proper functioning of the real economy,” Elliot said.
Elliot finds his job fulfilling and intellectually stimulating. “The financial landscape is quickly evolving, and MAS is often at the forefront of regulatory efforts to address emerging risks. There is no lack of excitement and learning opportunities are aplenty,” he shared.
New and evolving challenges are part and parcel of MAS’ work. During the COVID-19 pandemic, Elliot was in MAS’ Banking Department, closely supervising banks to ensure their resilience, and implementing relief measures to support businesses and consumers facing cash flow pressures. Now in the Payments Department, Elliot is involved in combating scams on digital payment platforms. As scammers develop increasingly sophisticated schemes, Elliot’s team continuously reviews and augments anti-scam measures to better protect consumers’ monies. Despite the challenges faced, Elliot shared, “We are encouraged to press on because we know that our efforts have a tangible impact on people’s livelihood.”
Elliot Yeo
Building a Fair and Resilient Finacial Sector for Singapore
Elliot had an interest in public policy-related work from young. “The 2008 Global Financial Crisis left a deep impression on me, especially as many people in Singapore were impacted by the economic recession,” he reflected. “This was one reason why I was keen to be involved in building stronger safety nets for people, so that they are better protected in times of economic crisis.”
Subsequently, Elliot took up the MAS Scholarship to read law at the National University of Singapore. Having worked for about five years at MAS, he values how legal training sharpened his attention to detail and clarity of thought when tackling complex issues.
Elliot’s internships at MAS during his university days reinforced his career decision. “The internships helped me better appreciate MAS’ role in building a fair, resilient and progressive financial sector, and I eagerly anticipated a career with MAS,” he reflected
A People-Centric Organisation
Elliot believes that MAS cares deeply for the well-being and development of all staff. “One thing that has stood out to me about MAS is its people-centredness,” he mused. “I’m thankful for managers who have shown genuine concern for staff’s well-being and are open to diverse views. My teammates and I actively look out for one another. Moreover, I have greatly benefitted from mentors here who have been intentional in journeying with me, some of them since my university days. Their outlook on work and life have helped to shape my view on the kind of public servant I would like to be.”
Explore, Learn, Grow
Elliot appreciates the time and space MAS provides for personal growth. During his four years in banking supervision, he acquired an understanding of banks’ functions and how they implemented MAS’ policies. Now in the Payments Department, he is gaining more exposure to policymaking honing his ability to design creative, forward-looking and robust solutions to address issues. “My time in banking supervision has raised my awareness of how impactful our policies can be to the man-in-the-street. This perspective has been helpful for my current role, especially when it involves the implementation of public policies,” he commented.
MAS’ diverse functions provide many development opportunities for individuals. “Staff are given opportunities to engage in different areas of work, broadening our perspectives,” Elliot noted. MAS also encourages continuous learning with a robust programme to equip new officers, as well as training programmes and sponsorships to encourage staff to upskill and reskill.
Build Your Career With Mas
For those considering a career with MAS, Elliot advised, “MAS is like a large family where you can find purpose and value through your work and build meaningful, lasting friendships. It is a place where people with the right mindset and values will be able to develop a long-term career.”
