We believe that our Human Resource
(HR) initiatives should be aligned with our business strategies,
and support the development of organisational capabilities required
to meet our corporate objectives. It is essential for HR to
work closely with other departments to develop and implement
more effective HR programmes. For this purpose, we have formed
three service groups, known as HR Partners, with each group
responsible for a cluster of departments.
We also developed and implemented a more systematic approach
to functional training, starting with the Financial Supervision
Group (FSG). Staff will be equipped with the necessary technical
competencies to perform their duties well and in pace with market
developments. A training unit set up within FSG made good progress
to introduce training programmes using the competency-based
training roadmaps.
At MAS, training is paramount and a concerted effort has been
made to develop leadership skills for all levels of staff. Employee
training amounted to S$2.3 million last year, equivalent to
3% of annual payroll.
Looking ahead, we will implement a rigorous training syllabus
for all our officers. We have also stepped up efforts to increase
the number of staff attachments to financial institutions to
enhance our officers’ understanding of commercial practices
and considerations.
Enhancing Risk-focused Supervisory Approach
Box 1 – Fostering a Sound and Progressive
Financial Services Sector
