In 2000, Liengseng co-founded Dragonfly LLC, a New York-based firm that provides quantitative risk-management capabilities and risk applications for strategic and investment decision-making to companies in the United States and Asia. He is widely recognised as a pioneer and leading practitioner in strategic and quantitative risk management and modelling.
In 2025, he was appointed Managing Director, Risk and Sustainability of Danantara, Indonesia’s sovereign wealth fund, which has assets under management of more than US$900 billion. The appointment reflects his international standing in large-scale portfolio risk governance, sustainability and long-term capital allocation.
Before founding Dragonfly, Liengseng was a New York-based Partner at Capco, where he led the Risk and Shareholder Value practice, and a Partner at Capital Markets Risk Advisors. He previously served as Managing Director of Global Risk Management at Bankers Trust New York, where he helped develop some of the world’s first daily risk and capital models for banks. These models were subsequently adapted by the Basel framework for global bank-capital regulation. Earlier in his career, he was a Senior Associate in the Strategy practice at Booz Allen & Hamilton in New York, after beginning his banking career with Banque Paribas in Singapore.
Liengseng has extensive governance experience across listed companies, private enterprises and non-profit organisations. He is an Independent Non-Executive Director of The Private Infrastructure Development Group (PIDG Ltd), Chairman of its Investment Committee, and a member of its Impact Committee and Audit Committee. PIDG, which is supported by six Western governments, develops and invests in impact-oriented and sustainable infrastructure across sub-Saharan Africa, South Asia and Southeast Asia, and has deployed debt, guarantee and equity solutions in 40 countries.
He is also an Independent Non-Executive Director of GuocoLand Ltd, a Singapore Exchange-listed property developer, where he chairs the Nominating Committee and the Remuneration Committee and serves on the Audit and Risk Committee. He serves on the Investor Committee of Mapletree US Logistics Private Trust, and is an Independent Non-Executive Director of Eldridge Capital Management (Singapore) Pte Ltd and OCTAVE Capital, both MAS-registered asset-management groups.
In public service and academia, Liengseng has served on the Resource Panels of Singapore Parliamentary Committees for the Ministry of Trade and Industry and the Ministry of Finance. He is a former President of the New York Singapore Association. He was an Adjunct Professor of Risk Management at Singapore Management University for ten years and has also taught at Columbia University, Peking University and the National University of Singapore. He currently serves on the Management Advisory Board of the NUS Business School.
Liengseng co-authored What Every CEO Must Know About Risk and RAROC and Risk Management. He was appointed a Senior Fellow of the Wharton School Risk Institute at the University of Pennsylvania.
He holds a Bachelor of Business Administration as Valedictorian from the National University of Singapore and an MBA with Distinction as Salutatorian from the Wharton School, University of Pennsylvania. He is also an alumnus of Harvard Business School, having completed the Senior Executive Leadership Program and the Corporate Director Certificate program.
Drawing on extensive experience across global financial institutions, advisory firms, sovereign wealth, corporate boards and academia, Liengseng continues to contribute meaningfully to risk governance, capital allocation, sustainable investment and the creation of long-term enterprise value.
他于2000年共同创立总部位于纽约的 Dragonfly LLC，为美国及亚洲企业提供量化风险管理能力，以及服务于战略制定和投资决策的风险应用工具。他被广泛视为战略风险管理、量化风险建模及风险资本管理领域的先行者和重要行业领袖。
2025年，他获任命为印度尼西亚主权财富基金 Danantara 的风险与可持续发展董事总经理Danantara 管理资产规模超过9,000亿美元。该职位体现了他在大型资产组合风险治理、可持续发展及长期资本配置方面的国际专业影响力。在创立 Dragonfly 之前，他曾任Capco纽约合伙人，负责风险与股东价值业务；亦曾任 Capital Markets Risk Advisors 合伙人。他曾担任Bankers Trust New York全球风险管理董事总经理，参与开发全球首批面向银行的每日风险与资本模型。该类模型随后被巴塞尔框架采纳，并用于全球银行资本监管体系的发展。在此之前，他曾任Booz Allen & Hamilton纽约战略咨询业务高级顾问，其职业生涯起步于新加坡巴黎银行（Banque Paribas）。
他拥有丰富的上市公司、私营企业及非营利组织治理经验。目前，他担任Private Infrastructure Development Group，PIDG Ltd独立非执行董事、投资委员会主席，并担任影响力委员会及审计委员会委员。PIDG 由六个西方国家政府支持，专注于撒哈拉以南非洲、南亚及东南亚的影响力和可持续基础设施开发与投资，已在40个国家部署债务、担保及股权等多元化融资解决方案。
他亦担任新加坡交易所上市地产（GuocoLand Ltd独立非执行董事，兼任提名委员会主席、薪酬委员会主席及审计与风险委员会委员；担任Mapletree US Logistics Private Trust投资者委员会委员；并担任 Eldridge Capital Management（Singapore）Pte Ltd 及 OCTAVE Capital 独立非执行董事，后两者均为在新加坡金融管理局注册的资产管理机构。
在公共事务与学术领域，他曾担任新加坡国会贸易与工业部委员会及财政部委员会资源专家组成员，并曾任纽约新加坡协会会长。他曾在新加坡管理大学担任风险管理兼职教授长达十年，亦曾于哥伦比亚大学、北京大学及新加坡国立大学授课；目前担任新加坡国立大学商学院管理顾问委员会委员。 他合著《每位CEO都必须了解的风险》（What Every CEO Must Know About Risk）及《RAROC and Risk Management》两部著作，并获宾夕法尼亚大学沃顿商学院风险研究所授予高级研究员（Senior Fellow）称号。
他以第一名毕业生身份获得新加坡国立大学工商管理学士学位，并以优异成绩获得宾夕法尼亚大学沃顿商学院工商管理硕士学位。他亦毕业于哈佛商学院高级管理领导力课程及公司董事资格认证课程。
凭借横跨全球金融机构、咨询公司、主权财富基金、董事会及学术界的丰富经历，黄连生先生持续在风险治理、资本配置、可持续投资和企业长期价值创造等议题上发挥重要影响力。