The Financial Services Industry Transformation Map aims to grow a value-add of 4.3 per cent and 2.4 per cent productivity growth annually.
This growth would be faster than the overall economy. According to the Monetary Authority of Singapore, the roadmap also aims to create 3,000 jobs in the financial services, and an additional 1,000 jobs annually.
However, this would mean next to nothing if workers who are supposed to fill these new jobs are not equipped with the necessary skills and capabilities.
As part of efforts to prepare the workforce for the future fintech industry, the Singapore Fintech Association (SFA), NTUC LearningHub, Fintech Academy and NTUC’s e2i (Employment and Employability Institute) have committed to collaborate to equip a core of professionals, managers and executives with relevant knowledge, skills and capabilities.
The four parties signed a memorandum of understanding (MOU) at The Future of Work Careers and Skills Symposium on 24 July 2018.
The MOU was witnessed by Second Minister for Finance and Education Indranee Rajah and NTUC Modern Services Training Committee Chairman Luke Hee.
In her speech, Ms Indranee called the collaboration an “example of how the industry and the Labour Movement are working closely to prepare the workforce for the future of work.”
Following this, NTUC together with the Economic Development Board, Monetary Authority of Singapore, Info-communications Media Development Authority, Workforce Singapore and participating employers will roll out a calendar of employability programmes and career-related activities.
The Future of Work Careers and Skills Symposium was the first of a series of career events for the financial services, ICT and Media, and professional services sectors, which ran from 24 to 30 July 2018.
