Yen Ling Foo

In 2020, following 3M's completed acquisition of Acelity, I transitioned to the 3M Ethics and Compliance team. My primary responsibility in this role is to collaborate with team members from around the globe to assess and report on the effectiveness of internal compliance programs at 3M and its third-party business partners.

Key responsibilities include:

• Conducting and leading compliance audits of moderate to high-risk third-party business partners, focusing on APAC and Europe.
• Interviewing management and other team members of third-party business partners and 3M subsidiaries to identify potential gaps in compliance awareness and key internal controls that ensure compliance with global and local anti-bribery and anti-corruption laws, as well as alignment with 3M's Code of Conduct.
• Analyzing books and records to ensure transparency and identify any questionable or inappropriate transfers of value to external parties from 3M subsidiaries and/or our third-party business partners.
• Identifying any other compliance risks or indications of corrupt practices through analyses of information obtained through interviews, observations, and auditees' books and records.
• Participating in internal compliance evaluations to gauge effectiveness of 3M's compliance program globally.

Additionally, experiences include subsequent follow-up on investigation results

Achievements:

• Successfully identified and mitigated critical compliance risks, ensuring protection of 3M's interests.
• Designed and launched a new audit program that significantly enhanced efficiency of compliance audits.
• Contributed to the improvement of the organization's compliance training program, leading to increased compliance awareness among employees.
• Conducted over 30 compliance audits, achieving a 95% success rate in identifying and resolving compliance issues.

Responsibilities:

• Provide organization with objective assessments of compliance and regulatory risks through evaluation of compliance-sensitive transactions, internal controls, and processes.
• Verify compliance requirements primarily associated with applicable anti-bribery laws and acts governing interactions with healthcare professionals.
• Address other compliance areas including contract and pricing compliance, privacy laws, trade compliance, and investigative support.

Duties:

• Plan, develop work programs, and execute compliance-related audits and projects as assigned, reporting findings and recommendations to management.
• Conduct assigned testing on transactional activity and relevant internal controls governing overall effectiveness of Acelity’s global compliance policies and related standard operating procedures.
• Maintain comprehensive records of audit activities in accordance with industry standards and departmental guidelines.
• Follow up to ensure appropriate actions have been taken in accordance with audit or compliance recommendations and management directives.
• Develop and maintain good working relationships with auditees and management groups, without creating opportunities for bias or conflict of interest.
• Maintain technical competence and professional proficiency through attendance at regular continuing education programs and meetings.

Achievements:

• Successfully identified and mitigated significant compliance risks, resulting in protecting Acelity’s interest.
• Developed and implemented new audit program that improved efficiency of compliance audits.
• Played key role in enhancing organization's compliance training program, resulting in increase in compliance awareness among employees.
• Conducted over 50 compliance audits in identifying and addressing compliance issues.

Responsibilities undertaken include:

• Develops, initiates, maintains, and revises policies and procedures for general operations to prevent illegal, unethical, or improper conduct and ensure compliance with SOX requirements.
• Provides compliance guidance to management and employees.
• Consults with legal counsel as needed to resolve complex legal compliance issues.
• Acts as an independent review and evaluation body to ensure that compliance issues and concerns within the organization are appropriately evaluated, investigated, and resolved.
• Collaborates with cross-functional teams to establish clear compliance guidelines and expectations for all departments.
• Manages investigations into potential violations of laws or regulations, ensuring swift resolution and implementation of corrective actions when necessary.
• Reviews documents, files, transcripts, and other records to assess compliance and identify potential risks.
• Streamlines compliance processes by implementing efficient monitoring systems and tools.

EXPERIENCES GAINED

• Evaluated internal controls in areas of Sales, Procurement and Project Management, for respective business divisions.
• Established and implemented relevant policies and procedures.
• Assist in contract review to ensure company's objectives are achieved.

Hollysys International serves as the holding company for Concord Corporation Pte Ltd, with its ultimate parent company, Hollysys Automation Technology, Ltd, being listed on NASDAQ since 2008.

Responsibilities undertaken include:

• Cooperate with internal auditors from parent company (Listed in NASDAQ) to perform risk assessment, technical and business process/application control reviews, to ensure company’s internal control is compliance to Sarbanes-Oxley Act’s requirement.
• Coordinate all departments to implement internal controls throughout the organization, which include overseas subsidiaries in Malaysia, Dubai and Saudi Arabia.
• Responsible for the follow-up audit of previous action plan committed by Management so as to ensure defects and drawbacks of system have been addressed.
• Work closely with Group Cost Controller to ensure the accuracy and completeness of monthly cost accrued and revenue accrued by project.

Apart from the responsibility stated above, due to change of management, I had temporary undertaken the post of Assistant Finance Manager. The responsibilities undertaken include:

• Review monthly management accounts to ensure accuracy and completeness of month-end entry.
• Prepare variance analysis for management decision.
• Prepare projected cash flow.
• Work closely with HQ Finance Team on SEC Reporting.
• Mentored junior staff members in their professional development by offering guidance/support in their assigned roles.
• Collaborated with the management team to develop strategic plans for business growth and improvement.
• Oversaw daily cash reconciliations, ensuring accurate financial reporting and minimizing discrepancies.
• Assisted in recruiting, interviewing, hiring, and onboarding of new employees to maintain adequate staffing levels.

Responsibilities undertaken for Internal Audit include:

• Perform risk assessments, technical and general computer control reviews, business process/application controls reviews, IT security reviews, and other controls and assurance related work, both for Sarbanes-Oxley related projects and supporting to financial audit teams.
• Involved in non-audit advisory, technology and performance improvement assignments.
• Supervising audit teams and train team members on audit executions;
• Prepare internal audit reports for the presentation to the Management, Board and Audit Committee; and
• Responsible for the follow-up audit of previous action plan committed by Management so as to ensure defects and drawbacks of system have been addressed.

Other consulting engagements involved including:

• Internal Control Review for purposes of listing on the Hong Kong Stock Exchange;
• Conducted in Foreign Corruption Practice Act (“FCPA”) review for a US based pharmaceutical company and a US based information technology company.

EXPERIENCES GAINED:

• Served several public listed companies operating in a range of industries, which include hospitality, manufacturing, wholesale and distribution, mining, oil and gas extraction and project management.
• Experienced in auditing SAP System.
• Experienced in conducting audit in Kazakhstan and other second tier cities in China.

Responsibilities undertaken for Internal Audit include:

• Plan, organize and execute internal audits.
• Design and execute tests to evaluate control processes.
• Supervising audit teams and train team members on audit executions.
• Prepare internal audit reports for the presentation to the Board and Audit Committee; and
• Responsible for the follow-up audit of previous action plan committed by Management so as to ensure defects and drawbacks of system have been addressed.

Other consulting engagements involved including:

• Internal Control Review for purposes of listing on the Bursa Malaysia (specifically on the ACE market).
• Financial Internal Control Practice review (simple version of JSOX) for Japanese owned insurance company.
• Investigative audit.
• Financial Due Diligence; and
• Investment reviews on potential business acquisition for Commerce Assets Ventures.

EXPERIENCES GAINED:

• Served several public listed companies operating in a range of industries, which include hotel and golf resort, restaurants, manufacturing, wholesale and distribution, construction and property development, healthcare, insurance, information technology, education, logistic and coal mining.
• Conducting internal auditing for Non-Profit Organization.
• Participated in Financial Internal Control Practice (simple version of JSOX) for Japanese owned insurance company.
• Experienced in using SAP System, Hospitality Operating System and Fidelio System.
• Experienced in conducting audit in Singapore, China, Taiwan, Hong Kong, Vietnam, Cambodia and Solomon Islands.

Responsibilities:

• Collected information on Singapore's listed companies, including the latest releases of Annual Reports, Interim Reports, and other shareholder-related information.
• Entered related data into the company system, ensuring accuracy and maintaining error-free data.
• Wrote company profiles.
• Provided basic training to newcomers.
• Composed research reports relating to various sectors and economic zones.

Experiences Gained:

• Demonstrated strong teamwork and multitasking capabilities.
• Showed initiative and the ability to work with minimal supervision.
• Developed skills in searching, collecting, and gathering data.
• Gained proficiency in using Microsoft Office.
• Consistently met deadlines.
• Acquired knowledge in report writing and a basic understanding of related sectors and economic zones.

Research Reports:

1. Oil and Gas - Indonesia, Malaysia, Vietnam

2. Shipping and Ports - Malaysia

3. Telecommunication - Indonesia

4. Tourism - China

5. Shenzhen Special Economic Zone – China