Economic Analysis

A research project with empirical relevance to Singapore in collaboration with the Economic Policy Group, in one of the following areas:

• Monetary economics;
• International macroeconomics;
• Interactions between finance and the real economy, including potential implications of digital assets;
• Labour market and productivity dynamics; or
• Climate finance and economics.

The intern will have the opportunity to engage in a research project on a topic developed in collaboration with the Economic Policy Group, as well as assist staff economists in preparing regular reports and briefings on current economic developments to support the monetary policy process.

Subject to agreement from the Economic Policy Group, the research project could also be existing work in progress, including projects intended for submission as a research requirement for a course or degree at the intern's educational institution (e.g. Dissertation Essay).

• A research report, as well as a presentation at the Economic Policy Group's research seminar
• Occasional briefs and reports to MAS management and policymakers

• Hands-on experience providing research-based support to MAS' monetary policy process
• Opportunity to brief MAS management on your research and engage with visiting academics
• Deeper understanding of economic policy concerns for Singapore at the central bank and across public agencies

• Currently pursuing an Undergraduate, Master or PhD Economics or Finance (or closely related fields)
• Technical background macroeconomics or microfinance
• Interest in the Singapore economy, and interest in public policy in Singapore
• Good writing and presentation skills in English, as well as good interpersonal skills
• Willingness to conduct independent research on a macroeconomics or microfinance topic
• Programming skills in one or more of the following software packages: Eviews, MATLAB, Stata, Python, R or Julia

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Enterprise Knowledge

This intern will help to support the establishment of the organisation’s oral history programme and systematic organisation of its heritage materials.

Key Responsibilities

• Support the oral history project through background research, preparation of interview materials, interview coordination, consent documentation, transcription review and processing of interview records
• Stocktake, digitise, catalogue and organise legacy corporate materials, including publications, audio-visual materials and historical management papers
• Apply established metadata, taxonomy and archival standards to oral history and legacy materials to ensure they are consistently organised, searchable and discoverable
• Support the development and testing of processes and tools for the storage, search and retrieval of oral history and archival materials

• Oral History Assets: High-resolution audio/video recordings, signed legal consent forms, fully proofread text transcripts, and summary abstracts for every stakeholder interview
• Searchable Metadata Repository: Structured metadata and tagging of oral history and heritage materials to support effective search and discovery
• Process Documentation: Documented workflows and practical guidance for continued processing, cataloguing and management of oral history and heritage materials

• Oral History and Stakeholder Engagement: Practical skills in conducting professional interviews, managing field logistics, securing legal consent, and coordinating multi-generational stakeholders
• Professional Archival and Heritage Management: Hands-on experience in physical stocktaking, digital asset management, creating metadata schemas, and organising institutional memory

• Currently pursuing a History undergraduate programme or has a strong interest in economic history
• Ability to effectively use AI tools for text-extraction, transcription, and structuring, alongside strong prompt engineering skills
• Strong critical thinking to verify, edit, and correct AI-generated transcripts, summaries, and metadata for historical accuracy
• Meticulous and detail-oriented for transcribing audio, handling delicate historical documents, and verifying proper nouns, dates, and historical facts
• Strong interpersonal skills to coordinate smoothly with diverse stakeholders for oral history interviews and present outreach proposals clearly to management

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Financial Centre Development 

The Financial Centre Development Department supports the growth of Singapore as an international financial centre and fosters key strategic activities and capabilities to deepen Singapore's position as a world-class financial hub. The intern will support the department's work in analysing the competitiveness of Singapore's financial sector in the area of taxation. The findings will be used to inform our tax policy review on the tax incentives in these sectors. The intern will perform desktop tax research across a wide range of financial sector activities including insurance, debt markets, and banking.

Additionally, on an as-needed basis, the intern will assist the line department in the preparation of reports to internal and external stakeholders. The intern will play a critical role in ensuring that governance standards are upheld and there is proper oversight on tax incentive administration (e.g. KPI reporting, Services Standards reporting).

• Deep dive on Singapore's financial sectors, and the available tax support
• Prepare a report comparing the Singapore’s regime to that of relevant competitor jurisdictions
• Ad hoc support for reporting work

The intern will gain insights on MAS' role in Singapore's financial centre development and tax policy formulation, as well as hone writing, analysis and presentation skills for the workplace.

• Good analytical, writing and research skills
• Interest in financial centre development work and current affairs
• Good team player
• Familiarity with Excel and running scripts with Python will be useful for ad-hoc reports

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Legal

This intern will be involved in research projects on topics and emerging trends relevant to central banks and financial regulators, including cross-jurisdictional research.

Besides research, interns may also have an opportunity to assist on matters that may be assigned by lawyers and participate in (i) internal transformation initiatives; and (ii) intra-organisational projects.

Written output on work assigned to interns, including paper(s) and a presentation for research projects.

Research and analytical skills and insights into the legal issues concerning Singapore's central bank and financial regulator.

Preferably undergraduates pursuing a Bachelor's Degree in Law, in their second or third year of studies.

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Organisation Development & Communications

The Behavioural Insights and Research Unit’s work aims to:

• Support departments in the use, design, implementation and analyses of studies through surveys, focus group discussions, interviews, et cetera
• Provide a behavioural lens to current and future problems and identify potential partners
• Increase organisational awareness of behavioural insights and its relevant applications to their work

• To understand and change research through:

1. Formulating relevant, specific and answerable research questions
2. Conduct deep literature research, taking advantage agentic AI agents to ensure completeness and comprehensiveness of review (synthesising and understanding research)
3. Designing fieldwork to answer research questions
4. Designing interventions to change behaviour
5. Analysing results using the appropriate technique

• To increase engagement of the MAS Behavioural Insights Teams Channel community through regular chat posts on interesting courses, trends, case studies or relevant articles in BI

You will gain skills and real-world experience in research production.

• Currently pursuing studies in Economics or Psychology with modules in Behavioural Insights/Behavioural Science/Behavioural Economics
• Proficient with Behavioural Insights concepts and applications
• Proficient with the use of Excel to clean data for statistical analyses and data visualisation
• Familiar with the use of statistical softwares such as Stata for data analyses
• Proficient with the use of AI to conduct academic research and content synthesis

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Markets, Infrastructures & Intermediaries 

Since the Global Financial Crisis of 2007-2008, stress testing has become an important means for banks and central counterparties (“CCPs”) to measure their risk exposure, and for central banks to assess systemic risks in the financial system.

The intern will work on industry-leading quantitative models to simulate extreme market movements and incorporate cutting-edge research on copula functions and extreme value theory into the modelling framework.

The intern will code and implement the stress testing methodology, and present the stress testing results.

The intern will gain an appreciation of how coding is used in finance, and gain insights into MAS' work in ensuring the stability of the financial system.

• Pursuing a course of study in Probability, Statistics, Quantitative Finance, or Econometrics, with a preference for candidates who have taken advanced undergraduate modules in Statistics or Econometrics
• Proficiency with programming languages (e.g. R, Python)
• Familiarity with financial markets

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Insurance

This intern will support the division in executing macroprudential surveillance and supervision tools (e.g. industry-wide stress testing, top-down stress testing, own risk and solvency assessment, industry scans), with the view to help insurance supervisors in the department to better detect and understand the risks and vulnerabilities of the insurance industry and come up with supervisory actions can be taken early if necessary.

Analysis of the results of the stress testing and risk assessment/scans performed, and preparation of presentation slides on the key findings. 

• Have a greater insight on the work/analysis that is performed by Insurance Department in regulating and supervising insurers in Singapore
• Build up knowledge on the regulatory and supervisory frameworks that are in place 
• Develop a better understanding of the various types of insurance sectors in Singapore and the risks faced by each of them
• Hone communication skills in distilling key findings and presenting in a manner that is succinct and easily understood

• Second/third year undergraduate with major in Business/Accounting/Economics, preferably with a specialisation in Actuarial Science, or Risk Management and Insurance
• Proficient with the use of Microsoft Office Excel, PowerPoint et cetera
• Knowledge in Python, Tableau will be useful

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Information Technology

The intern will transform raw operational and finance data into clear, management‑ready data visualisations and dashboards to support decision‑making. The project includes data cleaning, analysis, and modelling using Python, followed by interactive visualisations in Power BI/Tableau with clear financial and business insights.

Curated dashboards, a concise data storytelling summary, and documented notebooks/scripts highlighting trends, forecasting spending risks, and opportunities.

• Enhancement of programming and data manipulation skills
• Development of data visualisation and storytelling abilities

• Currently pursuing Business Information Technology, Data Analytics, or related courses
• High proficiency in data visualisation tools (PowerBI, Tableau, etc.)
• High proficiency in Python via Jupyter Notebook for data manipulation and visualisation (pandas, NumPy, matplotlib, seaborn, etc.)
• Understanding of database optimisation principles
• Competent in Microsoft Word and Excel
• Analytical mindset with attention to detail
• Strong problem-solving skills

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Information Technology

The intern will work on improving the contracts management system built on SharePoint. This involves redesigning and enhancing the form-filling interface using PowerApps to improve user experience and data accuracy, as well as building automated workflows using Power Automate to streamline contract-related processes such as reminders.

• A redesigned PowerApps form interface for the SharePoint contracts list, with improved usability and data validation
• Automated workflows built in Power Automate covering key contract lifecycle stages (e.g. submission, approval, expiry reminders)
• Documentation of the workflows and form logic for handover and maintenance purposes

• Hands-on experience with Microsoft Power Platform (PowerApps, Power Automate, SharePoint)
• Low-code application development, workflow automation design
• User interface design
• Stakeholder engagement in a government or public sector context

• Familiarity with Microsoft 365 tools, basic knowledge of PowerApps and/or Power Automate
• Understanding of SharePoint lists, and some experience with low-code/no-code development platforms
• Knowledge of process mapping or business analysis would be a plus

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Information Technology

The intern will review and optimise existing space and resource management sheets and databases to reduce manual effort and improve data quality and visibility. This includes identifying inefficiencies in current tracking and recommending automation and optimisation opportunities to support more efficient day‑to‑day operations.

Deliverables include an optimised and standardised tracking dataset, identification and implementation of basic automation opportunities, and a simple management‑ready dashboard or visual summary to support operational oversight and decision‑making.

• Exposure to real-world data in a Central Bank and projects impacting business operations
• Opportunity to review technology contracts and learn insights on vendor management

• Excel
• Visualisation Tools
• AI tools
• Automation tools

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Information Technology

The intern will review current asset management and invoicing processes to identify areas for automation. They will analyse existing workflows for tracking physical and digital assets, evaluate invoicing procedures, and implement automated solutions to improve efficiency in asset tracking and payment processing.

• Identify automation opportunities to streamline existing process
• Support the team in implementing proposed automated solutions to improve efficiency

• Practical experience in managing finance operations and asset management in a Central Bank
• Real-world exposure in analysing existing processes to identify opportunities for automation and improvements

• Excel
• Visualisation Tools
• AI tools
• Automation tools

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Information Technology

The Front Middle and Back Office System (FMBS) is a Critical Information Infrastructure (CII) that underpins MAS's management of Singapore's foreign reserves, exceeding SGD 350 billion. The system supports a wide range of investment functions including trading, portfolio management, risk management, settlement, and counterparty operations.

Over the years, a large number of reports have been developed within FMBS to support trade operations, back office settlement, and account reporting. Many of these reports lack formal documentation, creating challenges for impact assessments and system maintenance. This project aims to address that gap by building a comprehensive inventory of FMBS reports, extracting the underlying queries from Crystal Reports, and leveraging AI tooling to auto-generate structured documentation for each report. The documentation will cover the data fields used, business logic, and free code references embedded within the reports.

• A complete inventory of FMBS reports, catalogued with key metadata such as report name, category (e.g. trade operations, settlement, account reporting), and ownership
• Extracted report queries from Crystal Reports, organised and stored in a structured format
• AI-generated documentation for each report, covering field definitions, data sources, and free code usage, reviewed and validated for accuracy
• A summary report on free code usage patterns across the report inventory, highlighting areas of complexity or risk

• Practical application of AI tooling for technical documentation generation, including prompt design and output validation
• Understanding of enterprise reporting systems and the role of Crystal Reports in financial operations
• Exposure to the operational and governance considerations of a CII system within a central bank context
• Experience conducting a structured technical inventory and documentation exercise at scale
• Appreciation of how robust documentation supports change management, impact assessment, and system resilience in a regulated financial environment

• Pursuing a degree in Computer Science, Information Systems, Data Engineering, or a related discipline
• Familiarity with SQL or query languages, with the ability to read and interpret database queries
• Comfortable working with structured data and documentation tasks
• Strong attention to detail and ability to work with technical content methodically

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Reserve Management

• Compare market/open-source database options for structured and unstructured data storage
• Establish a centralised investment research database for internal use
• Design a metadata taxonomy to ensure clean organisation and efficient retrieval
• Consolidate a repository of research from multiple sources into database
• Develop user-friendly interface for management of user provided data
• Integrate AI connectivity for natural language search, document summarisation and the generation of cross-document insights
• Build scalable architecture to accommodate multiple users and future datasets, tools
• Draft budget proposal for proof-of-concept and implementation stages 

• Fully operational database with standardised taxonomy and tagging
• Repository of research from various sources
• AI integrated search functionality
• Documentation

• Practical experience in database design and search system implementation
• Familiarity with document management systems
• Understanding of taxonomy design and information architecture for financial research
• Enhanced knowledge of investment research workflows and data organisation in professional asset management

• Familiar with database setup, design and search system implementation
• Has experience working on structured and/or unstructured data
• Good proficiency with Python and SQL (or similar languages)
• Strong interest in data/database engineering and management
• Self-driven, technically inclined, and able to perform independent development

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Information Technology 

The intern will support the IT Budget and Financial Management team in budgeting, financial planning, and budget monitoring activities for the Technology Group. This includes assisting with financial tracking and control processes, contributing to budget reporting, and identifying opportunities to streamline existing workflows.

The intern may also support the team in maintaining and improving centralised tracking tools such as the Budget Tracker, and explore how digital enablement or automation can enhance financial management processes.

In addition, the intern will provide business management support for TG governance forums and department meetings, including assisting with scheduling, agenda preparation, and documentation.

The intern is expected to produce a review of current budget tracking and reporting processes, with documented findings and recommendations for improvement. Where applicable, the intern should develop or enhance tracking templates or tools to support financial monitoring. 

The intern will also maintain documentation and records arising from TG governance forums and department meetings.

Through this internship, the intern will gain hands-on exposure to IT budget planning and financial management in a government technology context. They will develop practical skills in financial tracking, reporting, and compliance, and gain experience supporting governance processes including the coordination of meetings and forums. The intern will also have the opportunity to explore digital tools and automation in a finance operations setting, and build an understanding of how technology investments are managed and monitored within a large public sector organisation.

• Pursuing studies in the area of Finance, Accountancy, Business, Information Systems, or a related field
• High proficiency in Microsoft Excel or equivalent spreadsheet tools is expected. 
• Basic proficiency in Microsoft 365 tools, PowerApps and/or Power Automate
• Familiarity with financial concepts such as budgeting, accruals, and variance analysis would be advantageous.

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.

Data & Technology Architecture

The intern will support the design and development of a network security automation framework that enhances infrastructure visibility through Infrastructure as Code (IaC) principles, API-driven integrations, and automation.

The project will focus on developing automation workflows to maintain an accurate inventory of technology assets, perform baseline configuration validation against established security standards, and integrate with enterprise platforms using open APIs. The intern will also assist in analysing vulnerability assessment findings, identifying trends, and exploring automation opportunities to improve security posture and risk prioritisation.

In addition, the intern will contribute to governance and compliance initiatives by developing and maintaining technical documentation, documenting security processes and standards, and recommending improvements to asset management and compliance workflows through automation where appropriate. The project will also explore the application of AI-assisted technologies to enhance infrastructure analysis, asset intelligence, and automation capabilities.

• Develop a proof-of-concept automated asset discovery and inventory solution
• Design and implement automation workflows for infrastructure baseline configuration validation
• Develop API-based integrations to facilitate information exchange between enterprise platforms
• Analyse vulnerability assessment findings and develop methods to correlate and prioritise results - against the enterprise asset inventory
• Identify and implement automation opportunities to improve asset management, governance, and compliance processes
• Produce governance, compliance, technical, and operational documentation, including solution architecture, process documentation, and user guides
• Present project outcomes, key findings, and recommendations for future enhancements

• Hands-on experience in network security engineering, infrastructure automation, and Infrastructure as Code (IaC)
• Practical knowledge of enterprise asset discovery, inventory management, and configuration baseline validation
• Experience developing API integrations and automation workflows across enterprise platforms
• Exposure to vulnerability assessment analysis and security risk prioritisation
• Understanding of governance, compliance, and technical documentation within an enterprise environment
• Experience applying AI-assisted technologies to improve infrastructure management and operational efficiency
• Enhanced project management, stakeholder engagement, and technical documentation skills

• Pursuing studies in Computer Science, Information Technology, Network Security, Cybersecurity, Information Systems, Software Engineering, or a related discipline
• Basic understanding of network security concepts, infrastructure technologies, and security best practices
• Familiarity with scripting or programming languages such as Python, PowerShell, or Bash
• Basic understanding of RESTful APIs, JSON, and system integration concepts
• Exposure to Infrastructure as Code (IaC) tools such as Terraform, Ansible, or similar technologies is an advantage
• Exposure to cloud platforms, enterprise infrastructure, or automation tools is beneficial
• Strong analytical, problem-solving, communication, and documentation skills

Apply here. Shortlisted candidates can expect to be notified within a month from the date of application.