A DAY after becoming president of Singapore's leading women's group, Ms Josie Lau found herself in hot water at work.
DBS Bank, where she is a vice-president, is conducting an internal review over how she disregarded its advice against taking on the top post at the Association of Women for Action and Research (Aware).
On Wednesday night, shortly after Ms Lau, 48, announced that she was the new president, the bank issued a statement making clear that it had told her not to take that position.
OCBC backs DBS stand
OCBC Bank backs the position taken by DBS Bank on the need for staff to seek approval before holding office in other organisations.
A key concern for financial institutions is possible conflict of interest, especially when someone senior takes on a role in an outside organisation, said OCBC spokesman Koh Ching Ching.
'It is important that financial institutions know of potential conflict of interest for their bank employees as we are required to regularly report to the regulators and our respective boards on any credit facilities to entities where our employees are directors, executive officers, guarantors or sureties,' she said. 'Financial institutions also need to know of potential conflicts for any possible supplier-buyer situations, even for accounts held by non-profit organisations or charities with us.'
