Oversea-Chinese Banking Corporation (OCBC) has appointed Noel Gerald DCruz as its new group chief risk officer on Nov 16.
DCruz will succeed outgoing group chief risk officer, Vincent Choo, who will stay on as an advisor.
Choo joined OCBC Bank in 2014 as group chief risk officer. During his tenure, he helped the bank through the plunge in oil prices from 2014 to 2016, says OCBC. Choo also led the bank’s transition to hybrid work arrangements through “strong operational risk controls”. He also “safeguarded its asset quality with robust risk monitoring and active customer engagement” during the Covid-19 pandemic.
DCruz, who will assume his expanded role on Jan 1, 2023, is an OCBC veteran, having been with the bank for 33 years since he first joined in 1989.
He currently heads both the group risk portfolio management department as well as the bank’s group data management office.
According to OCBC, DCruz has been closely involved in the reorganisation of the bank’s credit risk management structure, the set-up of the credit risk management committee and various specialised risk management units. In addition, he has been covering for Choo in his absence as acting chief risk officer over the years.
See also: OCBC China appoints Seth Tan new head of corporate banking
Following the appointment, DCruz will be made a member of OCBC’s management committee and its management executive committee.
“Our talent management planning ensures that our businesses continue to run smoothly and without interruption even as our senior executives retire or move on to new opportunities in their career or in life,” says Helen Wong, group CEO of OCBC Bank.
“I am glad to expand Noel’s role. He has built and strengthened the group’s portfolio risk oversight and management, and we are assured that he will continue to ably assess and mitigate a panoply of risks facing the bank amid today’s increasingly uncertain environment.”
See also: Frasers Property and ThaiBev make key leadership movements
Wong also thanked Choo for his “invaluable contributions” to the bank as its group chief risk officer.
“He has skillfully navigated the bank through several challenges during his tenure. Vincent has brought to the senior management team deep analytical insights and acumen which have helped shape several key decisions and strategic directions. I am glad that we will continue to benefit from Vincent’s extensive knowledge and experience as he stays on as an adviser.”
