Alice Ooi: Putting pieces of the puzzle together
50 Years / 50 Voices: Learning law and changing lives is a commemorative volume marking the 50th anniversary of the ongoing Monash Law Clinical Program, a pioneering initiative in clinical legal education undertaken by the Faculty of Law at Monash University. 50 alumni of the Monash Law Clinical Program shared their story with 50 current students of the same program. This is an excerpt from the book.
Alice Ooi is a legal, compliance and risk-management professional with 20 years’ experience spanning top-tier law firms, Big Four consulting and in-house roles at leading financial institutions. Ooi currently serves as Senior Legal Counsel at IG Australia, part of the FTSE250-listed IG Group, where she specialises in fintech and financial-services law.
As a fintech lawyer, Ooi navigates the rapidly evolving landscape of financial services, technology and regulation. She is passionate about financial technology growing in an inclusive and accessible manner, and advocates for ethical and sustainable standards in the fintech industry.
As a child, she had her heart set on studying medicine, but did not achieve the entrance score for medical school. Instead, the door to law school was open, so in 1996, Ooi enrolled into a double degree – Bachelor of Commerce and Bachelor of Laws. She recalls that the early days of law school were frightening. To her, the law was foreign and overwhelming. ‘I never studied anything where I read something and I don’t understand what they’re saying,’ Ooi says.
On the other hand, studying economics came naturally to her. Ooi had planned to abandon law and complete a Master of Economics followed by a PhD. Discussions with her family, however, played a pivotal role in her decision to finish her law degree.
‘I was raised in an environment where if you give up, that is worse than failing,’ she says. So Ooi deferred her Master of Economics to complete her law degree. It was in her final semester, while undertaking her clinical experience at Springvale Monash Legal Service, that Ooi began to open herself up to the idea of becoming a lawyer.
‘It was very much a sliding door moment for me,’ she says.
Read more about 50 years of Monash Law Clinics and buy 50 Years / 50 Voices here
Alice Ooi and friend on their way to Robert Blackwood Hall for their law graduation.
A case that Ooi credits with changing her career trajectory is what she calls the ‘abalone and powerline’ case. Ooi’s client, who was already experiencing financial issues and caring for his ill wife, was fined for excessive abalone fishing. In Victoria, illegal abalone fishing is a criminal offence, so the man was required to appear in court. The client originally sought legal advice because he wanted to take his sick wife to Queensland, given Melbourne’s harsh winter. However, due to his impending court hearing for excessive abalone fishing, he was advised to remain in Victoria.
Unfortunately for the client, while his criminal legal matter remained on foot, a powerline on his street fell and damaged his car. This added to the client’s legal and financial issues. It also created the potential for civil litigation against the power company responsible for the fallen powerline.
Ooi felt that a letter to the power company was inadequate to resolve her client’s civil matter. She discussed this with her supervisor, Ross Hyams, who raised a legal concept that could be a solution: ‘Let the thing speak for itself.’ Ooi says she immediately connected the concept to the Latin maxim she had learned in torts: res ipsa loquitur. Ooi remembers this moment giving her goosebumps.
Using this maxim, Ooi wrote to the insurance company arguing the power company was responsible for maintaining the powerlines and therefore should compensate her client for severely damaging his car. To her surprise, it worked! Her client was paid compensation, which allowed him to buy a replacement car and relieved his financial stress.
‘The law student in me thought, okay, I can be a lawyer. I can really be a lawyer,’ she says.
Today, Ooi continues to chase after moments that give her the same goosebumps.
In her current work, her matters involve many people and stretch over long periods of time. They are highly complex and can leave her feeling as though she is repeatedly hitting a wall.
‘Then one day that piece of the puzzle clicks and it fits in,’ she says. Ooi’s clinical experience also gave her a strong appreciation for organisations that bring people together and give them the help they deserve. During her time at Springvale Monash Legal Service, Ooi became acutely aware of the barriers faced by vulnerable communities and the importance of accessible and culturally sensitive support. Despite pursuing a corporate pathway, Ooi has held onto her community service roots at HELP for Domestic Workers (a Hong Kong-based organisation which supports migrant domestic workers) and more recently as a board member of the Glen Eira Adult Learning Centre. Both organisations empower and connect their members through advice, support and education.
Ooi originally began working at a top-tier law firm in Australia but relocated to Hong Kong with an eagerness to work on matters beyond the Australian jurisdiction.
While in Hong Kong, she worked across multiple organisations in the financial services sector (including global investment banks and regulatory advisory roles), expanding on the breadth and depth of her legal experience. After 15 years, she returned to Melbourne for family reasons, and served as legal counsel at two Melbourne-based boutique asset management and investment funds before finding her place at IG Group.
Ooi’s favourite aspect of her current role is advising on fintech product launches and navigating regulatory compliance across multiple jurisdictions. She thoroughly enjoys collaborating with international teams and looking at issues from different perspectives to provide a wide variety of solutions.
Ooi encourages current law students to embrace any fears of failure, and be brave enough to try anyway. ‘If you don’t apply your skillset in the real world, you’ll never really know how good you can be, how awesome you can be.’
Read more about 50 years of Monash Law Clinics and buy 50 Years / 50 Voices here
Get involved with Monash Law Clinics
Monash Law Clinics combine legal education with real-world impact, supporting access to justice while equipping students with practical, ethical and professional skills.
If you are a student interested in undertaking a clinical unit as part of your studies, explore the available clinical placements and elective options.
Whether you’re an alum, practitioner or organisation keen to support the clinics through hosting placements, partnerships, volunteering or funding, there’s a way to be involved. To learn more, contact Emily Collard, Industry & Alumni Engagement Manager, at emily.collard@monash.edu.