Change - Announcement of Cessation::Cessation of Chief Risk Officer

Issuer & Securities

Issuer/ Manager
YANGZIJIANG FINANCIAL HOLDING LTD.
Securities
YANGZIJIANG FINANCIAL HOLDING LTD. - SGXE77102635 - YF8
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
15-Mar-2024 18:28:16
Status
New
Announcement Sub Title
Cessation of Chief Risk Officer
Announcement Reference
SG240315OTHRBZW5
Submitted By (Co./ Ind. Name)
Toe Teow Heng
Designation
Executive Director and CEO
Description (Please provide a detailed description of the event in the box below)
Cessation of Chief Risk Officer

Additional Details

Name Of Person
Chiang Kheng Hong
Age
56
Is effective date of cessation known?
Yes
If yes, please provide the date
01/04/2024
Detailed Reason (s) for cessation
As part of the reorganization, the Group will remove the position of Chief Risk Officer ("CRO"). Current CRO, Mr Chiang Kheng Hong, will be reassigned to run the Group's Cash Management operations and will join the Group's respective Investment Committees to strengthen oversight over the Group's treasury and liquidity risk management.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
16/06/2022
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
3
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Chief Risk Officer
Role and responsibilities
Overseeing the strategic operations of the Group and managing corporate risk functions in Singapore, which encompass the investment management, fund and wealth management, and cash management sectors. Mr Chiang is responsible for establishing a comprehensive risk framework that addresses investment risk, market risk, credit risk, and operational risk across the firm's portfolio. Under the direction of the Audit and Risk Committee, he will provide effective and independent oversight of both financial and non-financial risk of the Group. Specifically, his duties include assisting the CEO and Board in formulating group risk policies, assessing the firm's risk tolerance, and creating strategic plans to mitigate risk.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
N.A.
Shareholding interest in the listed issuer and its subsidiaries?
No
Past (for the last 5 years)
N.A.
Present
N.A.