Grace Fung Oei has been the chairperson of Ronald McDonald House Charities in Hong Kong since 2008. In 2015 she also joined the global board of trustees of the organisation, which has been providing home-like accommodation around the world for hospitalised children with serious illnesses and their families since 1974, and which has been operating in Hong Kong since 1996.

She was formerly a banker for 36 years until 2014, working in roles including vice chairman for corporate and institutional clients at Standard Chartered Hong Kong, and managing director responsible for corporate finance and fixed income at UBS. She is a former member of the Finance Committee of the Hong Kong Housing Authority and the Takeovers and Mergers Panel and the Takeovers Appeal Committee of the Securities and Futures Commission. She is also an independent non-executive director of NWS Holdings, the diversified industries flagship of New World Development Company Limited.