Growing Timber Series
Through the Growing Timber series, MAS, together with the Institute of Banking and Finance (IBF), will share key trends and developments in the financial sector workforce, and engender conversations and partnerships on developing our local workforce even as we remain open to complementary expertise and skills from abroad.
To develop deep capabilities, we need to anchor the best international capabilities in Singapore, and grow our own timber over time.
- Ong Ye Kung, Minister for Education (Higher Education and Skills) and MAS Board Member
Launch of the Financial Services Industry Transformation Map
Launch of the Financial Services Industry Transformation Map
Overview
As the financial sector continues to transform with evolving business models and wider integration of technology, the nature of jobs will evolve. It is important for professionals to be equipped with new skills and competencies required in evolved job roles to enhance employability.
MAS and the Institute of Banking and Finance (IBF) have programmes and schemes targeted at individuals for your skills and career development.
Skills Development
Financial Specialist Scholarship (FSS)
A postgraduate scholarship programme to develop specialists in the targeted fields. It is open to financial institutions and individuals.
IBF Standards Training Scheme (IBF-STS)
The IBF Standards Training Scheme (IBF-STS) provides funding for programmes accredited under the IBF Standards.
Technology for Finance Immersion Programme (TFIP)
TFIP aims to help individuals gain experience in new technology areas, such as Cloud Computing, Cybersecurity, Data Analytics and Full Stack Development, within the financial services sector.
Career Conversion Programme (CCP)
CCP is a career conversion programme targeted at individuals to undergo skills conversion and move into new occupations or sectors that have good prospects and opportunities for progression.
Overview
MAS works closely with tripartite partners on skills and talent development to improve the competencies of financial sector professionals and strengthen the local talent pipeline of finance professionals and leaders.
Together with our key partner, the Institute of Banking and Finance (IBF), we have put in place programmes and schemes that support your FI’s efforts in hiring, building talent pipeline and workforce transformation.
Talent Development
Finance Associate Management Scheme (FAMS)
Helps financial institutions cover part of the costs of hiring more Singaporean staff and training them under their structured management and functional programmes.
International Postings Programme (iPOST)
Defrays part of the costs that financial institutions incur for sending Singaporean staff on global and regional attachments or postings.
Financial Specialist Scholarship (FSS)
A postgraduate scholarship programme to develop specialists in the targeted fields. It is open to financial institutions and individuals.
IBF Standards Training Scheme (IBF-STS)
The IBF Standards Training Scheme (IBF-STS) provides funding for programmes accredited under the IBF Standards.
Financial Training Scheme (FTS)
The Financial Training Scheme (FTS) provides funding for financial sector-specific training programmes which are recognized under FTS.
Asian Financial Leaders Scheme (AFLS)
Prepares senior-level talent in Asia’s financial sector to assume leadership positions and handle the growing complexity of Asia’s financial institutions.
Workforce Transformation
Professional Conversion Programme (PCP)
PCP help FIs reskill existing workforce with new skills and redeploy them to take on new job roles, as jobs are being transformed with evolving business models.
Technology for Finance Immersion Programme (TFIP)
TFIP helps FI grow talent pipeline in new technology areas, such as Cloud Computing, Cybersecurity, Data Analytics and Full Stack Development where demand is expected to increase with wider adoption of technology.
IBF Careers Connect
IBF Careers Connect can support FIs in helping their employees in acquiring relevant skills and transitioning to new job roles, as jobs are being transformed by technology.
What's New
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"Growing a Vibrant Insurance Linked Securities Market in Asia" - Speech by Mr Lim Cheng Khai, Executive Director, Financial Markets Development Department, Monetary Authority of Singapore, at the Artemis ILS Asia Conference 13 July 2023
Steve Evans, Editor in Chief, Artemis Distinguished guests Ladies and gentlemen Introduction 1. Good morning. Thank you for having me at the Artemis ILS Asia Conference. It is good to see the event back for its fifth installation in Singapore. I am happy to be here, to reconnect with friends I’ve met in Artemis New York...
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"Building Talent to Fuel the Future of Financial Services" - Keynote Speech by Dr Tan See Leng, Minister for Manpower, at the Institute of Banking and Finance Distinction Evening 2021 on 16 December 2021
At the Institute of Banking and Finance Distinction Evening 2021, Dr Tan See Leng, Minister for Manpower highlighted that the shifting growth patterns in the financial services sector will have profound impact on skills needs. He raised three examples - the increasing role for Smart Capital, the continued rise of the Digital Economy, and greater emphasis placed on Sustainability.
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Speech by Dr Tan See Leng, Minister for Manpower, at the MAS-IBF "Growing Timber" Webinar Series on 3 September 2021
At the MAS-IBF "Growing Timber" Webinar Series, Dr Tan See Leng, Minister for Manpower spoke about the importance of staying open and connected; ensuring opportunities for Singaporeans in the financial sector; and providing more overseas work opportunities for Singaporeans.
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Keynote Speech by Mrs Josephine Teo, Minister for Manpower and Second Minister for Home Affairs at the Institute of Banking and Finance Awards Ceremony 2020 on 27 January 2021
Mrs Josephine Teo, Minister for Manpower and Second Minister for Home Affairs, spoke about workforce transformation and capability building, and partnerships between the government and financial institutions.
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"Creating Opportunities and Strengthening the Singapore Core in Financial Services" - Keynote Speech by Ms Jacqueline Loh, Deputy Managing Director (Markets & Development), Monetary Authority of Singapore, at SGUnited Financial Sector Jobs & Skills Fair on 12 August 2020
Ms Jacqueline Loh, MAS’ Deputy Managing Director, spoke on MAS’ three priorities to support the local workforce in our financial sector - Protecting Livelihoods; Creating Opportunities; and Strengthening the Singapore Core.