The Talent and Leaders in Finance Programme will help nurture more Singaporean specialists and leaders in Finance and ensure that Singaporeans are able to take up good jobs that the financial services sector will continue to generate in the years to come.”
- Lawrence Wong, Deputy Prime Minister, and Deputy Chairman of the Monetary Authority of Singapore
ITM 2025: Forging New Growth Pathways Opening Address at the Financial Services Industry Transformation Map 2025 Launch Event
Overview
Financial institutions can get support for hiring and training (1.7 MB) as well as support for workforce transformation, while finance professionals can tap on funding for skill and career development (655.8 KB), offered by various government agencies.
In particular, MAS has set aside S$400 million in grant funding from the Financial Sector Development Fund for the Talent and Leaders in Finance Programme over 2021 – 2025 to support skills training and to develop more finance specialists and leaders in the Singapore workforce.
- Build workforce competencies in growth areas and provide training support for finance professionals at different stages of their careers
- Develop specialist talent in areas such as sustainability and technology
- Develop leaders through opportunities to acquire expertise, international exposure, and networks to help them succeed in their leadership roles
We provide support to financial institutions to enhance the job readiness of fresh graduates and to develop new talent pools for the financial sector.
Financial institutions and individuals may tap on the following programmes and schemes administered by the Institute of Banking and Finance (IBF) :
| Polytechnic Talent for Finance Scheme (PTFS) Expands the opportunities available to polytechnic students and graduates in the financial sector through internships, apprenticeships and sponsorships. |
Develop skills in:
Funding:
Refer to Infographic on PTFS (233 KB).
Eligible applicants:
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| Finance Associate Management Scheme (FAMS) Grooms recent graduates for future specialist and management roles. |
Develop skills in:
Funding:
Eligible applicants:
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| Financial Training Scheme (FTS) Provides funding for financial institutions’ employees in in-house and external training programmes that are recognized by IBF. |
Develop skills in:
Funding:
Eligible applicants:
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IBF-Standards Training Scheme (IBF-STS)
Individuals who successfully complete an eligible IBF-STS accredited assessment programme and meet the relevant criteria can apply for IBF Certification - an industry endorsed mark of quality for finance professionals in Singapore. Find out more on how you can apply . |
Develop skills in:
Funding:
Eligible applicants:
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We provide support to deepen competencies, reskill professionals to enable them to take on new or expanded roles and nurture specialist talent in technology and sustainability. Financial institutions are also encouraged to invest in their employees and in new talent, especially in growth areas like sustainability and technology.
Financial institutions [1] and individuals may tap on the following programmes and schemes, administered by the Institute of Banking and Finance (IBF) [2] :
| Financial Training Scheme (FTS) Provides funding for financial institutions’ employees in in-house and external training programmes that are recognized by IBF. |
Develop skills in:
Funding:
Eligible applicants:
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IBF-Standards Training Scheme (IBF-STS)
Individuals who successfully complete an eligible IBF-STS accredited assessment programme and meet the relevant criteria can apply for IBF Certification - an industry endorsed mark of quality for finance professionals in Singapore. Find out more on how you can apply . |
Develop skills in:
Funding:
Eligible applicants:
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| Technology in Finance Immersion Programme (TFIP) [4] Supports mid-career professionals, with no prior work experience in identified technology fields, to acquire skills in those fields through training and attachment with financial institutions. |
Develop skills in:
Funding:
Eligible applicants:
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| International Postings Programme (iPOST) Supports financial institutions in grooming Singaporeans through overseas postings to build international capabilities. |
Develop skills in:
Funding: Single Track Until 31 December 2024
From 1 January 2025
Group Track From 1 November 2024
Eligible applicants:
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| Career Conversion Programme (CCP) Provides salary support for financial institutions to hire and train mid-career professionals or reskill employees to take on new or redesigned/augmented job roles in growth areas. |
Develop skills in:
Funding: Salary support for CCP trainees who commenced training from 1 April 2024[5]
Eligible applicants:
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| IBF Careers Connect Provides career advisory services to individuals interested in a finance career, including finance professionals taking on new roles and other professionals making a career switch to the financial sector. |
What individuals can gain:
Eligible applicants:
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[1] Financial institutions refer to entities regulated by the Monetary Authority of Singapore.
[2] IBF is the Jobs Development Partner for the financial industry appointed by the National Jobs Council.
[3] For each qualifying apprentice hire, the funding is $2,000 per month, capped at 12 months for priority areas. $1,000 per month, capped at 12 months for non-priority or other general areas. Additional funding at the same level for up to 12 months, if the apprentice is emplaced into a university-equivalent role after completion of the apprenticeship programme.
[4] Supported by Workforce Singapore (WSG).
[5] For CCP trainees who commenced training before 1 April 2024, their employers will receive salary support based on previous caps (i.e. standard rate – capped at $4,000 per month and enhanced rate – capped at $6,000 per month).[6] Enhanced rate is applicable for mature SC/PR trainees 40 years and older in the year of commencement of the programme, or long-term unemployed SC/PR trainees who are unemployed and actively seeking employment for 6 months or more prior to commencement of the programme.
We support financial institutions in developing and nurturing Singaporeans to assume leadership roles in the financial sector.
Financial institutions [1] may tap on the following programmes and schemes, administered by the Institute of Banking and Finance (IBF) [2] to support this:
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Asian Financial Leaders Scheme (AFLS) |
Develop skills in:
Funding:
Eligible applicants:
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| International Postings Programme (iPOST) Supports financial institutions in grooming Singaporeans through overseas postings to build international capabilities. |
Develop skills in:
Funding: Single Track Until 31 December 2024
From 1 January 2025
Group Track From 1 November 2024
Eligible applicants:
|
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