- Senior Associate, Ingenia Consultants Pte. Ltd. (2020 – present)
- Financial Consultant, Professional Investment Advisory Services (PIAS) (2017 – 2018)
- Singapore College of Insurance, Capital Markets and Financial Advisory Services (CMFAS)
- Certified Internal Auditor – Candidate
- University College Dublin, Bachelor of Business Studies in Finance (Second Upper-Class Honours)
- Singapore Polytechnic, Diploma in Banking & Finance (Major in Financial Trading)
Cheryl Hay
Cheryl Hay is a Senior Associate with Ingenia. Her key areas of practice include regulatory compliance for fund management, financial advisory, trust companies, and payment services. Cheryl is currently in the process of obtaining her certification as a Certified Internal Auditor.
Cheryl regularly assists in providing regulatory compliance advice to various organisations in the financial space, which particularly includes Securities and Futures Act 2001, Financial Advisers Act 2001, Trust Companies Act 2005, Payment Services Act 2019, and related regulations and guidelines issued by the Monetary Authority of Singapore.
Through advising on regulatory aspects of securities regulations and other related regulatory and compliance matters, Cheryl has assisted in licensing and due diligence requirements for fund managers, by establishing and remediating their risk management controls.
In conjunction with regulatory compliance advisory, Cheryl is actively involved in conducting internal audits for financial institutions and engaging in appropriate remediations of identified issues through follow-up to ensure the company meets its financial, operational, and compliance objectives.
Experience
Confidential financial institution:
Advised a foreign insurer in financial adviser regulations for their commencement of insurance business in Singapore and setting up policies and procedures to comply with Singapore insurance and financial advisory laws and regulations.
Various fund management companies:
Assisting in advising various fund managers on regulatory and business conduct considerations, under regulations, notices, guidelines, circulars, and practice notes issued by the Monetary Authority of Singapore relevant to various aspects of financial activity, application of transaction monitoring, reporting requirements, anti-money laundering, due diligence, and outsourcing requirements, etc.
Numerous fund management companies:
Conduct internal audits on fund management companies by objectively reviewing the organisation’s business processes, evaluating the efficacy of risk management procedures that are currently in place, and measuring them against relevant regulations.
Various trust companies:
Conduct internal audits of trust companies’ processes such as marketing, customer onboarding & ongoing review, business operations, governance, risk management, and more.
Various payment services institutions:
Conduct internal audits on payment institutions licensed under Payment Service Act 2019 by reviewing the institution’s internal control design and efficiency relating to anti-money laundering processes such as customer due diligence and transaction monitoring.