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Daniel Lim
Head - Legal & Compliance
The global banking sector operates amidst complex legal considerations, with billions of dollars flowing in and out daily. To overcome various risks in the sector, the role of a competent legal professional becomes extremely crucial. Their expertise is needed not only to overcome the complexities of laws but also to ensure that institutions are operating ethically, with integrity, and in full compliance. With strategic brilliance in both law and compliance, Daniel Lim navigates the legal maze of the banking sector with finesse. His dual expertise brings a new dimension to the role of a legal professional. He is currently heading the legal and compliance department of Hong Leong Bank (HL Bank) Singapore.
Carrying a rich expertise in corporate law, investment banking, trust businesses, and Fintech platforms, Daniel brings unique perspectives to the table. His experience at Bybit, and roles at major banking institutions like ABN AMRO, HSBC, Maybank, and Daiwa Capital Markets reflect his vesatiity and astuteness. CEO Insights Asia is thrilled to interview Daniel and delve into his wise inputs.
How would you describe your professional journey? What led you to pursue a career in the legal field?
I've always been focused, even as a child. Inspired by lawyers in my family circle, I decided to take this path. Initially, I wanted to specialize in corporate or tax law. However, my journey took many interesting turns. I practiced law in Vietnam for two years, then worked as a mergers and acquisitions lawyer in Singapore. I then spent 11 years building my expertise in trust, brokerage, and corporate banking in the banking sector. To broaden my exposure, I joined a fintech company and learned diverse legal and compliance aspects. Finally, now I am here with HL Bank. My career has been diverse and fulfilling. It's been a journey of exploration and growth, and I'm excited for what the future holds!
What are your key strategies to tackle legal issues effectively?
Dealing with legal issues requires a proactive, agile, and multi-faced approach. I have built an open-door policy, and my team can reach out to me with any issues they encounter. The goal is to catch these issues early on when they're still manageable. Whether through negotiations or swift actions, I aim to resolve these matters quickly and efficiently. This approach not only reduces potential risks but also ensures that we're well-prepared before the issue escalates. Being early, fast, and practical in addressing legal concerns is key to safeguarding the interests of our organization.
Tell us about your expertise in suggesting an organization policy.
My journey in different roles—from M&A to FinTech and banking, in both local and international contexts has given me a comprehensive understanding of how organizations work. I've encountered many unexpected situations, which have taught me to be adaptable and ready for anything. This has also honed my ability to spot gaps in policies that might need a closer look. When I see something that could be improved, I'm not afraid to recommend changes, either right at the start of a project or during our yearly reviews. My goal is to make sure our policies are not just legal but also help us achieve our goals as a company.
How do you mentor young talents? What are the key areas you focus on to bring out their best potential?
You can impart knowledge only if you gain knowledge. So It is important that I first stay updated on the latest laws and regulations. Also, the base of mentoring is a genuine passion for sharing and inspiring. It’s about fostering a sense of curiosity and self-learning. When they see my enthusiasm for staying informed, it often promotes curiosity in them. Secondly, it’s important to focus on skills that are not just legal but also practical like communication, problem-solving, and adaptability. Lastly, I try to instill a sense of ownership in their learning journey, so they understand that what they learn is their wealth and they have to build upon it. This approach has yielded promising results, with my team members showing individual growth and stronger team dynamics.
What’s your leadership approach? Share some of the guidelines or methodologies you implement.
The first step to leadership is hiring the right talent and empowering them to excel in their roles. As the legal landscape evolves rapidly, no person can be an expert in every aspect. This is where trust comes in—I hire the best, and I trust them to do what they do best. I value their contributions and ensure they know their work matters. This acknowledgement and encouragement leads to greater achievements.
Take risks, explore & you'll find yourself constantly exceeding your own expectations
Beyond trust, I guide and coach my team, setting clear goals and providing constructive feedback. It's about showing them not just where they are but also where they can go. Sometimes the truth may be tough, but it's essential for growth. I've seen that with a common purpose, teams can achieve far more collectively than any individual could alone. Ultimately, my leadership is about fostering an environment where everyone feels valued, empowered, and aligned toward shared goals.
What are your future goals and aspirations for the company?
My current focus is on building a strong team at HL Bank. We're working to streamline processes, address any gaps, and foster a cohesive, purpose-driven legal and compliance department. Our long-term goal is to be recognized and respected within the company, earning trust and demonstrating the value we bring. After achieving this foundation, we'll be able to set our sights on the future, but for now, our focus is on building a successful team here at HL Bank.
What advice would you offer to aspiring legal professionals based on your experience?
Just go for it. I've met people hesitant about law perceiving the difficulty or competition. But remember that law is more than just a career; it’s a unique experience that shapes you to excel in other fields too. The challenges, the rigorous training, and the ability to think logically and strategically—these are qualities that help you succeed well in any industry. You're not just becoming a lawyer, you're becoming a problem-solver, an innovator. This experience shapes you as a whole, equipping you to tackle challenges and reach your full potential. It may even lead you down unexpected paths. From startups to tech giants, the law opens doors you never knew existed. In my journey, I could explore diverse roles from finance to logistics, thanks to the skills I developed as a lawyer. Some of the lawyers are entrepreneurs too. In short, the opportunities are many for a lawyer.
Daniel Lim, Head – Legal & Compliance, Hong Leong Bank (HL Bank) Singapore
Daniel’s passion for emerging technologies, experience in navigating the regulatory landscape, and strategic foresight have made him a respected personality. Currently, his focus is on building a cohesive team at HL Bank, streamlining processes, and ensuring our legal and compliance department is recognized for its efficiency and effectiveness.