Schemes and Initiatives

SkillsFuture Study Award for the Financial Sector

SkillsFuture Study Award for the Financial Sector helps Singaporean finance professionals develop and deepen their skills through a wide range of programmes. Find out more about the study award.

Updated 20 Aug 2019

What It Is

The Monetary Authority of Singapore (MAS) introduced the SkillsFuture Study Award for the Financial Sector in 2015. The SFSA is targeted at Singaporeans in the early to mid-stages of their careers, and are committed to develop and deepen their skills. Awardees will receive a monetary award of S$5,000, which can be used to defray out-of-pocket expenses associated with the course(s) being taken. It can also be used on top of existing government course fee subsidies.  

Eligibility Criteria

  • Singapore citizens with minimum 3 years of work experience in the Financial sector.

  • Committed to deepening skills

  • Has contributed to the learning or training of others

  • Not a previous recipient of any SkillsFuture Study Award

  • Not a public officer

  • Selected course of study should be relevant to the sector 

Examples of Supported Courses

Supported courses should deepen skills in areas including insurance, asset and wealth management, compliance, risk management, data analytics, and cyber security.

Supported courses include, but are not limited to, short-term executive technical courses and specialist diploma programmes such as:



Specialist Diploma in Business Analytics

Temasek Polytechnic

Specialist Diploma in Cloud Data Centre Technology and Management

Nanyang Polytechnic

Specialist Diploma in Business & Big Data Analytics

Nanyang Polytechnic

Specialist Diploma in Cyber Security Management

Singapore Polytechnic

Specialist Diploma in Operational Risk Management

NUS Risk Management Institute

Advanced Diploma in Enterprise Business Analytics

Ngee Ann Polytechnic

Financial Market Operations and Technology: Risk Management Systems

Singapore Management University

Advanced Network Forensics & Analytics

SANS Institute

Certified Anti-Money Laundering Specialist

Association of Certified Anti-Money Laundering Specialists

ICA Advanced Certificate in Governance, Risk & Compliance – IBF Level 1

International Compliance Training Academy (ICTA)

Financial Risk Manager Certification Training Program

NUS Risk Management Institute

SMU Executive Certificate in Structured Trade & Commodity Finance

Singapore Management University

Master of Science in Analytics

Nanyang Technological University

Master in Insurance & Risk Management

MIB School of Management

Master of Science (Project Management) with Project Finance Specialisation

National University of Singapore

Leading with Big Data Analytics

National University of Singapore

ICA Diploma in Governance, Risk and Compliance

International Compliance Training Academy (ICTA)

ICA Diploma in Anti-Money Laundering/Counter-Financing Terrorism

International Compliance Training Academy (ICTA)

Oxford Fintech Program

University of Oxford


These are examples of supported courses, and the list is not meant to be exhaustive. Applicants may submit other courses for consideration on a case-by-case basis. All applications are subjected to competitive selection process.

Application Period

MAS is in the process of transferring the administration of the SFSA to the Institute of Banking and Finance (“IBF”) . IBF is the industry association established to foster and develop the professional competencies of the financial sector.

Individuals can apply to IBF for the SFSA from 15 October 2019, for courses they are enrolled or planning to enroll in.  Details will be available on the IBF website when applications open on 15 October 2019.


For more information, please

Or refer to SkillsFuture Study Awards main page: SkillsFuture Study Awards