Noel Lee Sun Yen

Principal Consultant

BBUS (Banking) (NTU), CISA, MSCS
ISCA Member (Business)

Noel.lee@Mckell.com.sg

Noel Lee, a business leader in accounting and finance, has built a distinguished 30-year career initially specializing in Technology and Operations (T&O) financial management at DBS and Citi, later expanding his commercial expertise across the petrochemical, oil and gas, and maritime industries. Through his own risk advisory practice, he provides strategic counsel to MNCs, SGX-listed firms, and private education institutions.

Noel is a Certified Information Systems Auditor (CISA) and ISCA Member (Business). In recognition of his professional achievements in IT Finance and Technology Auditing, Noel achieved Professional Member (MSCS) status with the Singapore Computer Society in 2022, marking his official entry into the ranks of Singapore’s technology professionals, with a primary domain in accounting information systems. He is also a PDPC-IAPP certified practitioner with a proven track record as the appointed Data Protection Officer for 15 organisations since 2020, providing expert PDPA oversight and operational guidance.

Currently the Founder of McKell Risk Assurance, a Governance, Risk and Compliance (GRC) practice firm, Noel specializes in the strategic audit of corporate governance frameworks designed to manage risk and optimize organizational excellence.

Noel holds a Bachelor of Business degree in Banking from Nanyang Business School, Nanyang Technological University, Singapore.

Noel’s professional journey spans 30 years and is anchored in three strategic pillars:

Banking Technology & Operations - IT Finance (1996–2007)

Noel began his career as Bank Officer at Tat Lee Bank and HSBC Capital Asia Pte Ltd before pivoting to DBS’s Group Technology & Operations (T&O) from 2000 to 2004. During this tenure, he was instrumental in driving financial efficiency gains by integrating back-office process transformations with robust financial controls. He provided rigorous analysis of pass-through building costs from DBS Workplace Solutions and validated the implementation of a chargeback system for DBS Corporate Real Estate (CRE) services, successfully institutionalizing cost accountability and transparency across the bank's business units.

In his subsequent role as IT Financial Analyst at Citi Technology Infrastructure Asia Pacific, Noel was a strategic finance partner to regional technology leaders. Backed by the Protiviti New York team, he managed FP&A for high-impact initiatives, including the KoRam Bank/Citi integration and the Global Data Center Strategy covering the Hong Kong, Chennai and Mumbai offices. By implementing rigorous budgeting and forecasting, he optimized project spending, drove cost savings, and ensured technology investments were transparent and aligned with Citi APAC business growth strategies.

Head of Finance & Accounting at Global Corporations (2007–2015)‍ ‍

In his transition to high-stakes financial resilience and corporate reporting roles, Noel served in pivotal positions at global energy and maritime industry leaders, including ExxonMobil Singapore, Shell Singapore, and the Singapore shipping subsidiary of Mitsubishi Corporation (Diamond Star Shipping Pte Ltd) and Swire (The China Navigation Company Pte. Ltd.) where he led his finance teams in connecting complex technical operations with financial strategy. His key responsibilities and focuses included:

• Managed FP&A and provided insights on business performance metrics through the Balance Scorecard framework, identifying, and analyzing areas that presented potential for strategies development and long-term financial growth in a dynamic global oil and gas exploration and maritime environment.

• Spearheaded the SAP Business Warehouse (BW) analytics function in providing the ExxonMobil sales team with real-time sales intelligence and data insights in a volatile market, driving the strategic pricing and growth initiative of the ExxonMobil Intermediates segment.

• FP&A Analyst supporting the Incentive department of a global payments leader, ensuring the precise recording of complex incentive contracts in strict alignment with accounting policy, guiding the accounting treatment for intricate incentive structures, strengthening accounting internal controls and streamlining the accrual process in ensuring high-fidelity financial disclosures.

• Managed accounting and shipping ERP systems (SAP / Veson IMOS) integration, harmonizing accounting and strategic business processes and ensuring integrity of corporate reporting supporting the board in decision making and regulatory compliance.

• Championed and managed the Control Self-Assessment (CSA) program to facilitate controls testing for Sarbanes-Oxley (SOX) and J-SOX in ensuring reliable financial disclosures and achieving audit readiness.

• Managed a team of accountants and financial analysts for the financial close process across the Singapore and Japan jurisdictions at Diamond Star Shipping Pte Ltd, navigating differences in accounting standards and implementing best practices for cross-border collaboration facilitating the conversion process from SFRS to US GAAP for head office consolidation and conducting gap analyses to ensure consistency across the different standards.

• Demonstrated strong team lead that steered the accounting team toward Mitsubishi Corporation’s foundational Three Corporate Principles through the commitment in achieving transparent financial reporting and ethical governance as the bedrock of social trust.

• Managed the assessment and documentation of hedge accounting to mitigate earning volatility arising from Freight Forward Agreement (FFA) for chartering operations.

• Managed and streamlined the impairment assessment and documentary process for the global vessel fleet (SFRS 36), integrating cross-functional operational data to deliver more precise and proactive financial reporting.

• Managed tax function supported by Big 4 tax advisor and drove the successful integration of external tax expertise into internal strategic planning sessions, delivering tax guidance to executive management, facilitating decision-making based on international shipping tax structures, ensuring compliance and optimizing fiscal outcomes.

Private Practice in Governance, Risk and Compliance (GRC) (2016–Present)

After two decades in the corporate sector, Noel Lee established McKell Risk Assurance in 2016, later growing the brand through McKell Risk Management Pte Ltd, which he co-founded with the business advisory arm of a Public Accounting Corporation in 2017. His risk consulting practice focuses on integrating governance, strategies, technology, and sustainability to drive resilient and ethical business outcomes (Refer to the 'Representative Experience in Private Practice' section below).

Representative Experience in Private Practice

Board-Level Internal Audit Leadership at SGX-Listed Companies

Reporting to the Board Audit Committee, Noel served as the Group Internal Auditor for two SGX Mainboard companies in the property development, investments, hotels and hospitality and construction engineering sectors from FY 2016 to FY 2022. During his term, he led and planned all internal audits in accordance with the International Standards for the Professional Practice of Internal Auditing (IIA Standards) of the Institute of Internal Auditors.

For these companies, he also played a pioneering role in providing training and framework guidance in relation to the first-time implementation of their Control Self-Assessment (CSA) program, Enterprise Risk Management (ERM) and Sustainability Reporting roadmap. He also evaluated and enhanced corporate governance practices, advising management on aligning operations with sustainability standards while fostering a corporate culture of transparency and accountability.

IT Audit

Conducted IT internal audit for an SGX Mainboard company from FY 2020 to FY 2022 using the IT Audit Framework (ITAF) issued by ISACA. Assessed the SysAdmin and information security controls including secure configuration, firewalls, patch management practices and IT governance alignment. Provided sustainable solutions to enhance technology capabilities and operational resilience that allowed the Board to exercise informed and strategic oversight of technology risks and controls.

Special Internal Audits

In 2019, commissioned by the Singapore parent medical group to conduct an internal audit of its Indonesia-based healthcare operation, focusing on its financial, operational, compliance and technological internal control systems. The audit yielded a detailed roadmap for the board and management, comprising actionable insights and recommendations prioritized to strengthen corporate governance and financial oversight, enhance accountability and improve operational resilience.

In 2019, provided investigative support to an all-Korean, home-country internal audit team deployed from the South Korean headquarters of a multinational corporation in relation to a high-stakes confidential audit of a public infrastructure project undertaken by its registered branch operation in Singapore (2019). Facilitated collaboration between the Korean investigative leads and local project management teams, bridging cultural and regulatory gaps to ensure a thorough and transparent internal audit process in a complex construction engineering environment.

Conducted PDPA Compliance Audits for a Registered Fund Management Company and a MINDEF-Related Organisation in 2023 and 2024 respectively, serving on the latter engagement as an external specialist to co-lead PKF Singapore's inaugural PDPA audit project. The audits encompassed comprehensive evaluations and improvements of the organizations' data protection policies and controls, specifically addressing data governance, technological infrastructure and compliance procedures including cross-border transfer of personal data.

Business Strategy

Conducted business reviews for two Private Education Institutions (PEI) clients in supporting their credit rating application for the 2018, 2022 and 2026 license renewal cycle under the Enhanced Registration Framework (ERF), focusing on the institutions’ key strategies, business and financial growth, liquidity and solvency over a 5-year projection horizon.

Internal Review of Sustainability Report

In 2023, Partnered with PKF Singapore as an external specialist to co-conduct their inaugural sustainability report service for a SGX Catalist water treatment company in accordance with the IIA Singapore’s Guide to Internal Review of Sustainability Report and other regulatory and international frameworks including the SGX Sustainability Reporting Guide, GRI, TCFD and SASB.

Strategic Data Protection Officer

Noel has previously served as Data Protection Officer (DPO) for 15 diverse organizations from 2020 to 2026. His clientele encompasses payment service providers, e-commerce startups, cryptocurrency and NFT project companies, Private Education Institutions (PEIs), country clubs, and biofuels enterprises. As a PDPC-IAPP certified DPO, he has empowered these organizations to integrate data protection and robust cybersecurity practices into their core business strategies to mitigate regulatory risks and build customer trust.

Areas of Expertise

Managed end-to-end FP&A functions, delivering accurate budgeting, forecasting, and performance variance analysis. Partnering with leadership to track Balanced Scorecard KPIs, and providing data-driven clarity for board-level strategic decisions.

Managed Corporate Real Estate (CRE) and IT chargeback models for financial institution.

Sustainability Governance and ESG Reporting Frameworks (GRI, SASB, TCFD).

IT Audit and Consulting (IT Governance and risk management, ITGCs, ITACs, Cybersecurity Essentials), IT Control over Financial Reporting for SOX Compliance.

Internal Audit, Control Self-Assessment and Enterprise Risk Management.

Data Privacy Advisory and PDPA Compliance Audit.

Industry Expertise

Financial Institutions (Corporate Banking, Banking Group Technology & Operations, Fund Management Company, Investment Banking) and Global Payment Technology Company.

Global MNCs (Oil & Gas Exploration, Chemical Intermediates Operations, Ship Owning, Time and Voyage Chartering, South Korean Engineering and Construction Group).

SGX Mainboard and Catalist-listed Companies (Property Development and Investments, Real Estate, Hotels and Hospitality, Service Residences, Construction Engineering and Logistics, Mining Services, Heavy Equipment and Logistics Provider, Civil Infrastructure, and Water Treatment).

Food and Beverage Subsidiary of an SGX-listed Conglomerate.

Medical Group and leading Private Healthcare Provider in Indonesia.

MINDEF-Related Organizations (MROs).

SMEs and Startups (Private Education Institutions, Cryptocurrency, NFT, Payment Service Provider, Software Development Developer, E-Commerce).

Professional Volunteering

AICPA Member Volunteering Programme (2010)

Admitted to the American Institute of Certified Public Accountants as an AICPA International Associate (2008 to 2021), Noel was connected to US-centric expert guidance and the global community, supporting his corporate work in accounting compliance with U.S GAAP and SOX at several multinational companies.

In the spirit of professional knowledge sharing, Noel served as an IFRS subject matter expert for the AICPA to develop Uniform CPA Exam questions.

Personal Life

A Roman Catholic and Cantonese-Hakka, Noel is married and has a son who is commencing his Bachelor of Accountancy studies at Singapore Management University in 2026.

Noel served his National Service at 3 Signal Battalion (NSF) and 9 Signal Battalion (NSman).