Mr Ong graduated from Heriot Watt University in Edinburgh, UK with a First Class Honours Degree in Actuarial Mathematics. He joined the Monetary Authority of Singapore in 1993 under the Central Banking Officer programme, where he was rotated to the Insurance Department, the Securities Industry Department, and the Finance Department.

He is currently an Assistant Director in the Insurance Department of the Financial Supervision Group, where he is actively involved in the supervision of life insurance companies, and the development of regulations and prudential standards for the industry.