
Talent Development
MAS partners the Institute of Banking and Finance Singapore (IBF) to support financial institutions in hiring, training and workforce transformation, and individuals in skills development and career mobility.
MAS also works closely with the industry to build a strong pipeline of Singaporean leaders in the financial services sector.
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Supported IBF as the one-stop industry platform for skills, careers and jobs
In April 2019, IBF and MAS launched a study that sets out the impact of data analytics and automation on job tasks and skills needs of 121 job roles in Singapore’s financial services sector over the next 3 to 5 years. In partnership with SkillsFuture Singapore, IBF also launched the Skills Framework for Financial Services in September 2019 which sets out the progression pathways and skills required for a career in the industry.
We have since observed an increase in take-up of training courses, with around 22,000 trainees supported by FSDF in the past year under the Financial Training Scheme and IBF Standards Training Scheme. We expect this strong take-up rate to continue.
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Building a strong pipeline of Singaporean financial services sector leaders
To develop a strong pool of Singaporean leaders in the financial services sector, FSDF, through the Finance Associate Management Scheme and International Postings Programme, provided over 250 Singaporeans in the past year with opportunities for cross-functional and overseas exposure. FSDF also supported the building of the talent pipeline in specialist areas such as quantitative finance and data science, through 20 scholarships awarded under the Financial Specialist Scholarship.
To build a pipeline of Singaporean finance leaders for regional and global roles, FSDF supported 42 promising finance professionals under the Asian Financial Leaders Scheme, to go through curated programmes that provided opportunities to engage regional policymakers and corporate leaders, and to develop deeper insights into Asian markets.