ROBUST, TRUSTED, AND
PURPOSEFUL FINANCIAL CENTRE
- A DYNAMIC AND PURPOSEFUL FINANCIAL CENTRE
- Attracting Institutional Investors
- Enhancing Risk Management Ecosystem
- Box 1: Insurance Vision 2020
- Box 2: Ongoing Efforts to Develop a Robust RMB Ecosystem
- Enhancing the RMB Ecosystem
- Strengthening Capital Market Linkages and Increasing Product Diversity
- Box 3: Growth of Singapore's International Financial Centre
- Developing Globally Competitive Talent for the Future
- Harnessing Technology and Innovation for Future Growth
A DYNAMIC AND PURPOSEFUL FINANCIAL CENTRE
DEVELOPING GLOBALLY COMPETITIVE TALENT FOR THE FUTURE
MAS continued to work with the Institute of Banking and Finance (IBF) to put in place programmes to promote competency development and leadership capabilities of professionals in the financial sector.
Given heightened demand for competent IT professionals in the financial sector, the Financial IT Academy @SMU (FITA) was set up to support the training needs of the industry in the technology and operations space. In partnership with MAS and the Infocomm Development Authority of Singapore, FITA develops and delivers courses that equip professionals with integrated banking and technology skills. This is a multi-disciplinary approach that will enable professionals to drive process re-engineering and business growth. To help finance professionals identify career progression and upskilling opportunities, IBF further rolled out practice-development roadmaps in 2014 through revised competency standards for risk management, and technology and operations. By 2016, IBF would have completed the revised standards across 13 major job segments in the financial sector, ranging from compliance and corporate banking, to financial markets and financial planning.
MAS also worked with financial institutions to develop programmes that will provide Singaporean professionals with more cross-functional and overseas exposure within their financial institutions. To enhance the leadership capabilities of Singaporean finance professionals at senior management levels, a new Asian Financial Leaders Programme will be launched in 2015. The programme will provide participants with opportunities to engage regional policymakers and corporate leaders, and develop keener insights into key markets in Asia.
Looking ahead, MAS will engage the industry to anticipate how job roles in the financial sector will evolve as technological developments impact the financial landscape. The objective is to put in place programmes to ensure that finance professionals will continue to be equipped with the necessary skills and capabilities for the future. MAS will also work closely with tertiary institutions to shape their curricula to provide graduates with job-ready skills, enhance financial sector internship and apprenticeship opportunities for university and polytechnic students, as well as create a greater range of training opportunities for Singaporean finance professionals at all levels.