ABS is governed by a Council comprising 18 members drawn from the senior managerial ranks of the three local banks and 15 foreign banks. Council members provide policy and strategic directions for the Association. The Council is chaired by a local bank (DBS Bank, OCBC Bank or UOB), with the Chairmanship rotated every two years.

Day-to-day operations are overseen by the Secretariat headed by ABS Director Mrs Ong-Ang Ai Boon. She is supported by a team of Managers, Executive Officers, Administrative Officers and external consultants. Members of the various ABS Standing Committees and Task Forces (comprising representatives from member banks) provide professional resources, domain knowledge and advice.