Singapore

Financial firms aim to create 1,800 new jobs by June 2021

Financial institutions aim to create 1,800 new jobs and 2,000 traineeships by June next year, a survey noted yesterday.

Around 880 of these posts will be in technology, including top roles such as application developers, application architects and business analysts.

The survey, which polled about 30 firms accounting for 40 per cent of the financial services workforce on their projected hiring over the 12 months from July this year, also found that firms are recruiting for basic positions like tech support.

"These roles are typically less complex and more rules-based," said Mr Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), which conducted the survey.

"However, they pay less than intermediate and advanced tech roles and have not appealed to Singaporeans as much.

"We hope more locals will take up these job roles, even if they are less paid, which also provide a pathway to the intermediate tech jobs, which are in demand."

Intermediate tech jobs include application developers, data analysts and cyber security specialists.

"These are roles which Singaporeans with relevant backgrounds can potentially be trained into," said Mr Menon, who was speaking at a webinar yesterday organised by MAS and the Institute of Banking and Finance (IBF).

He noted that MAS and IBF started a Technology in Finance Immersion Programme last year to help financial institutions hire mid-career locals from other sectors with backgrounds in science, technology, engineering and mathematics.

The programme, supported by Workforce Singapore and the Infocomm Media Development Authority, involves training and attachments in areas such as data analytics, cyber security, cloud computing and full stack development. - THE STRAITS TIMES

Employment