Monetary Authority of Singapore Annual Report 2011/2012
Our People

Expertise and Leadership Development

MAS Academy
The MAS Academy offers learning and developmental programmes to address the different needs of MAS officers. It offers a comprehensive suite of programmes, covering functional, general development and leadership courses, designed to enhance the depth and breadth of our people’s knowledge and skills. The content of these programmes are subject to regular reviews to ensure that the courses remain relevant in a changing environment.

In the past year, MAS’ supervisory officers had the benefit of attending a series of Supervision Masterclasses conducted by several distinguished speakers, including former heads of supervision from leading jurisdictions. The speakers shared lessons learnt from the global financial crisis, latest banking regulatory developments and supervisory practices, weaknesses in banks’ risk management and internal controls arising from the crisis, and the supervisory response.

Leadership Programmes
In the past year, new cohorts of emerging leaders participated in our milestone programmes – the Young Professionals Programme and the People Leadership Programme. Apart from classroom learning, participants also had the opportunity to engage in experiential learning activities as well as peer learning and coaching. Through a series of interrelated modules on topics such as personal mastery, team effectiveness, influencing skills and coaching, these programmes seek to build and hone leadership skills among young professionals and leaders in MAS.

To encourage continuous learning in MAS, a coaching framework has been put in place for supervisors to equip themselves with skills to coach their staff and teams. The objective is to forge engaging relationships, improve work performance and strengthen employee engagement. A Coaching Community of Practice (CoP) provides the platform for peer learning, where supervisors can practise and sharpen their coaching skills.

MAS Peer Groups
Peer Groups are communities of practice which conduct learning and sharing activities in specialised subject areas. During the year, MAS Peer Groups organised various activities to help staff keep abreast of developments and trends in a number of areas. For example, the Stress Testing Peer Group conducted a sharing session on stress testing methodologies used by other supervisory authorities and macro stress testing techniques. The Peer Group collaborated with the International Monetary Fund (IMF) to conduct a two-day stress testing course for MAS’ officers. The focus was on credit, market and liquidity risks. The Market Risk Peer Group facilitated discussion and shared knowledge on capital planning and management. The Anti-Money Laundering & Countering the Financing of Terrorism (AML/CFT) Peer Group spearheaded many knowledge sharing initiatives, and updated the AML/CFT examination manual and banking procedures related to suspicious transactions, and contributed actively to discussions on this topic at various international fora. Through the culture of sharing, Peer Groups have helped MAS’ staff develop deep technical knowledge and professional competence in many areas.

Attachment and Secondment
Another important way in which MAS develops our officers is through short-term attachments to leading financial institutions and foreign regulatory bodies. These stints help our officers to acquire technical expertise and industry knowledge which raises their competencies and makes them more effective contributors to their team upon return. MAS also seconds officers to supranational organisations, where they take up key positions within these organisations for a defined period. This allows our officers the opportunity to experience work of differing natures during their MAS career, and contribute to the process of shaping international developments and standards. Annually, about 3% to 4% of our eligible senior officers benefit from such attachment and secondment opportunities.