SINGAPORE - Financial institutions aim to have created 1,800 new jobs and 2,000 traineeships by June next year, a survey has noted.
"These roles are typically less complex and more rules-based," said Mr Ravi Menon, managing director of the Monetary Authority of Singapore , which conducted the survey. He noted that the MAS 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.
"It requires years of training and experience to attain mastery of these skills. The local supply of talent for such jobs is quite limited and financial institutions will need to rely on expertise from abroad while building a pipeline of locals for these advanced tech roles," he added. Mr Menon added that tech jobs will account for 23 per cent of the traineeships on offer, in roles such as application developers and business analysts.But firms will still be looking for experienced hires or specialists to fill over 60 per cent of jobs, the survey found.
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