- 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 (2.04 MB) as well as support for workforce transformation, while finance professionals can tap on funding for skill and career development (804 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
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. (222.7 KB)
Eligible applicants:
|
Work-Study Support Programme (WSSP) Enhances job readiness of undergraduates via structured internships. |
Develop skills in:
Funding:
Eligible applicants:
|
Finance Associate Management Scheme (FAMS) Grooms recent graduates for future specialist and management roles. |
Develop skills in:
Funding:
Eligible applicants:
|
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:
|
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:
|
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:
|
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:
|
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:
|
Wealth Management Accelerator Programme (WMAP) [4] Supports mid-career professionals, with no prior experience in Personal Banking, Financial Planning, Bancassurance, Wealth Management, and Relationship Management, to take up wealth management roles in the financial sector through training programmes and on-the-job training. |
Develop skills in:
Funding:
Eligible applicants:
|
International Postings Programme (iPOST) Supports financial institutions in grooming Singaporeans through international exposure to prepare them for future global and regional roles. |
Develop skills in:
Funding:
Eligible applicants:
|
Career Conversion Programme (CCP) – Redeployment [4] Provides salary and course fee support for financial institutions to reskill employees to acquire knowledge and competencies to take on new roles in growth areas. |
Develop skills in:
Funding:
Eligible applicants:
|
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:
|
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:
Asian Financial Leaders Scheme (AFLS) |
Develop skills in:
Funding:
Eligible applicants:
|
International Postings Programme (iPOST) Supports financial institutions in grooming Singaporeans through international exposure to prepare them for future global and regional roles. |
Develop skills in:
Funding:
Eligible applicants:
|
What's New
-
MAS Partners Google Cloud to Advance Capabilities in Generative AI Technology
MAS and Google Cloud signed a MoU to collaborate on generative artificial intelligence (AI) solutions that are grounded on responsible AI practices.
-
MAS Launches Grant Scheme to Encourage Hiring and Training of Polytechnic Talent for the Financial Sector
MAS, through the Financial Sector Development Fund, will set aside S$8 million over the next three years for the Polytechnic Talent for Finance scheme. The scheme comprises three tracks: Internships, Apprenticeships, and Sponsorships.
-
"More Pathways for Young Talent in the Financial Sector" - Remarks by Mr Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth, and Board member of MAS, at the Growing Timber Series on 24 April 2023
At the Growing Timber Series, Mr Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth, and Board member of MAS, launched the Polytechnic Talent for Finance Scheme, to expand opportunities available to polytechnic students and graduates.
-
Remarks by Mr Leong Sing Chiong, Deputy Managing Director, Monetary Authority of Singapore, at the Official Opening Ceremony of the FM Global Centre on 8 November 2022
Mr Leong Sing Chiong, MAS’ Deputy Managing Director, spoke of insurers as important partners in helping governments and businesses manage physical and transition risks, and the important role that the insurance industry can play in empowering the development of the green economy in Asia.
-
Keynote Speech by Mr Gan Kim Yong, Minister for Trade and Industry, at the Institute of Banking and Finance Distinction Evening 2022 on 6 October 2022
At the Institute of Banking and Finance Distinction Evening 2022, Mr Gan Kim Yong, Minister for Trade and Industry spoke on seizing opportunities in new growth areas such as sustainability and digitalisation and technology, and the importance of equipping our workforce for the evolving financial services landscape.