MAS' Organisational Transformation
MAS continued with our Internal transformation efforts to better meet the needs of staff, the financial sector and the public
Future of Workforce - Our staff are at the forefront of our transformation efforts to achieve effective and efficient delivery of organisational outcomes. To support staff’s career and professional development, MAS launched the competency framework for our technology and data functions last year, and continues to develop functional competency frameworks for other functions. Competency frameworks help to guide our staff in developing the competencies required for their job roles and our supervisors in providing the necessary support. MAS continues to invest heavily in training our staff in areas such artificial intelligence, data analytics and sustainable finance. We are also strengthening our talent development by equipping leaders and potential leaders with mentoring skills.
Future of Work - MAS is tapping on Generative Artificial Intelligence (AI) technology to boost staff productivity and transform the way knowledge work is performed. The Data & Knowledge Platform, which enables MAS officers to easily find and access internal and external content and information, has been augmented with Large Language Models to provide staff with an Intelligent Assistant. Officers can summarise and query information sources, and produce first-cut regular reports. Amid an uncertain global economic and financial environment, staff can also use these tools to more efficiently undertake comprehensive scanning of topics of interest. Through the Bank for International Settlements’ Open Tech initiative, MAS collaborates with peers in the central banking and regulatory community on digital solutions that address our common use cases.
MAS launched our first Enterprise Data Science Platform, Merlo, in October 2023. Merlo enables our data scientists to build and deploy both predictive AI and generative AI products in a secure, scalable and collaborative manner. Since Merlo’s launch, our staff have successfully used AI in our daily work such as interest rates forecasting, survey data analytics and compliance checks.
The MAS-FI Transactions Platform (MAS-Tx) has been rolled out to all FI types, and has continued to onboard more regulatory submissions, working towards the vision of being a single touchpoint for regulatory interactions with MAS. In addition, regulatory submissions on MAS-Tx have been transformed into more structured forms, to improve the ease of data processing and analysis. Underpinning MAS-Tx is a modern, cloud-optimised stack that seeks to maximise operational efficiency. This year, MAS TxO – the FI transactions dashboard for MAS officers – has also been launched, as a tool to support our officers in handling submissions seamlessly. Together, MAS-Tx and TxO aim to support smooth interactions between FIs and MAS officers, and enable retention and retrieval of records of past interactions.
Future of Workplace - MAS is redesigning our workplace to create a more collaborative and sustainable environment for our staff, whilst incorporating ergonomic and biophilic design elements. With our hybrid work arrangement, we will develop more common office spaces for formal and informal interactions when staff are working in office. We will continue to reduce our carbon footprint through smart lighting systems, hybrid cooling and environmentally friendly office design.
