OCBC Bank has appointed Donald MacDonald as its first Head of Group Data Office with effect from 1 June 2022, a newly created role to drive the Bank’s data strategy and establish OCBC as a leading data-driven organisation in the region.
MacDonald, who has been appointed the acting Head of Group Data Office since June 2021, will be reporting directly to the Group Chief Operating Officer (COO), Lim Khiang Tong.
With close to 30 years of experience in the data and analytics field in various global and tech companies including PwC Consulting and IBM, MacDonald is recognised as one of the most experienced analytics practitioners in the world.
He joined OCBC Bank in 2004 as the lead of a customer analytics team in the Consumer Financial Services division, before rising up the ranks over the years, eventually taking over as the Head of Group Customer Analytics & Decisioning in 2010.
One of MacDonald’s achievements was to successfully create and build a dedicated Artificial Intelligence (AI) unit in 2018, with OCBC becoming the first bank in the region to do so.
Today, the AI Lab team is one of the largest data science teams in Singapore, driving key initiatives like using machine learning to create greater value for customers through personalisation and lowering compliance risks through transforming processes such as detecting and prioritising accurate anti-money laundering alerts.
On top of establishing teams, MacDonald also played a major role in developing much of the data infrastructure used in the Bank, including developing a platform for opening an account with the bank that achieved the highest customer rating at launch.
Group COO Lim Khiang Tong said: “Since joining OCBC Bank 18 years ago, Donald has transformed the scope of the analytics function from a smaller-scale division team to a group-wide capability that supports all divisions and entities across the region. Donald is synonymous with data and analytics, and I have confidence in his stewardship in guiding and accelerating our data strategy, as we continue our transformation efforts to provide a superior customer experience and create greater value for our customers.”
Recent OCBC tech initiatives
In March 2022, OCBC Bank announced that it plans to identify and hire 1,500 tech talents to fill in-demand positions over the next three years, with roles in areas such as application development, cyber security, data science and artificial intelligence. Most of these roles will be based in Singapore, with the rest in overseas entities in China, Hong Kong, Malaysia and Indonesia.
A number of programmes have been rolled out to develop OCBC Bank’s workforce in the area of digital proficiency over the years.
In 2018, the OCBC Future Smart Programme was launched and till date a total of $50 million have been committed to train and transform the Bank’s workforce. It was the largest-scale and most ambitious transformation initiative by a Singapore bank. As of end 2021, more than 10,000 programmes have been developed, with more than 516,000 completions.
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