And of course, please participate in the survey. JOB READINESS OF FRESH GRADUATES  Having created job opportunities, the second prong of our agenda is job readiness – preparing our young for the jobs at hand. A key insight on job readiness is that need to see study and work as an integrated learning process. https://www.mas.gov.sg/news/speeches/2020/gearing-up-for-new-and-evolving-jobs-in-financial-services  13/18  04/12/2020  "Gearing up for New and Evolving Jobs in Financial Services" - Remarks by Mr Ravi Menon, Managing Director, Monetary Authorit…  This is what the SkillsFuture Work-Study Degree (WSDeg) Programme seek to achieve. Launched in 2017, the WSDeg programme enables students to gain work experience and acquire work-relevant skills, so that they are ready for the workplace upon graduation. To-date, around 30 students who enrolled in the WSDeg programme with financial institutions have graduated, and many have joined the industry. Currently, there are around 50 students undergoing the programme at financial institutions. Take for example DBS’ Applied Wealth Management track in NTU’s Bachelor of Business programme. Students undergo on-the-job training to develop deeper understanding of various jobs in wealth management at DBS. This year, 50 students are on this programme. This includes 31 who just joined the programme this year, all of whom have received conditional job oﬀers from DBS. Another example: Standard Chartered Bank partnered the Singapore University of Social Sciences for three Bachelor of Science programmes, across finance, business analytics, and human resources.

But if employers take this approach for all job roles, where does that leave mid-career jobseekers who may not yet have all the skills required for these roles but may nonetheless have some past experience that is useful? We need to make a concerted eﬀort to give mid-career jobseekers the opportunity to be trained into these new job roles. Employers must be willing to take a calculated chance to hire and train mid-career jobseekers who have good experience but may not have all the requisite skills, but can be trained. Likewise, jobseekers must be willing to step out of their comfort zone, and take a stab at trying new roles and picking up new skills. https://www.mas.gov.sg/news/speeches/2020/gearing-up-for-new-and-evolving-jobs-in-financial-services  10/18  04/12/2020  "Gearing up for New and Evolving Jobs in Financial Services" - Remarks by Mr Ravi Menon, Managing Director, Monetary Authorit…  Next, let’s look at where financial institutions are oﬀering the 2,000 traineeships during July 2020 to June 2021. Technology again has the largest number of traineeships on oﬀer, albeit at a lower 23% share. The top traineeship roles are application developers and business analysts. These traineeship programmes oﬀer a good way to scale up capabilities in technology so that Singaporeans can take on such jobs in future. Beyond technology, financial institutions are oﬀering traineeships in insurance and banking, in areas such as compliance, risk management, and process excellence. The pilot employment outlook survey has provided a useful forward-looking view of hiring prospects in the financial sector.