MAS to launch two leadership programmes for financial sector in 2025
It will work with financial institutions to commit to sending more Singaporeans on overseas postings
THE Monetary Authority of Singapore (MAS) will launch two leadership programmes for the financial sector in 2025.
One will be for those at the level of managing director and above – individuals with potential for more senior leadership roles.
The other programme is for high-potential middle-level professionals at the senior vice-president and director levels. This group is more than two times bigger than the group of senior leaders.
Minister of State for Trade and Industry Alvin Tan, who is on the MAS board, announced this plan on Wednesday (Oct 2), in his speech at the Asian Financial Leaders Programme graduation dinner.
MAS’ Asian Financial Leaders Scheme will defray half the cost of the programme for Singaporean participants.
Tan also announced that MAS will add a “group track” to its International Postings Programme, a talent development initiative that opens up opportunities for Singaporeans to be groomed through international exposure, to prepare them for future global and regional management or specialist roles at all levels.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
The group track entails the MAS working with financial institutions to commit to sending more Singaporeans on overseas postings in the next year or two.
MAS will also fund these postings for periods of three years, up from two, in return for more people being put on the programme under the new track.
At the moment, the International Postings Programme only has an “individual track”, under which individuals are posted overseas on an ad hoc basis.
Since 2016, more than 200 Singaporeans have been supported through the programme. The Financial Sector Development Fund defrays part of the costs incurred by financial institutions in sending people on global and regional attachments or postings.
A recent survey found that financial institutions that were supported through the programme reported that nearly 60 per cent of those who had been on overseas postings moved up at least one rung in seniority upon their return.
Copyright SPH Media. All rights reserved.
