Through these regular sessions, we want to: share information on opportunities relating to jobs and skills; hear from the industry’s workers the challenges they face in their professional development; showcase success stories of upskilling and reskilling; learn good human capital practices from experts and from one another; so that … … together we can transform Singapore’s financial sector workforce to be among the best globally. MAS will provide greater transparency around financial sector workforce data, so that everyone has a clear idea of where we are doing well as an industry and where we https://www.mas.gov.sg/news/speeches/2020/gearing-up-for-new-and-evolving-jobs-in-financial-services  3/18  04/12/2020  "Gearing up for New and Evolving Jobs in Financial Services" - Remarks by Mr Ravi Menon, Managing Director, Monetary Authorit…  need to do better. The Growing Timber series takes its inspiration from the Green Shoots series. Green Shoots is a webinar series which MAS launched in April this year to keep alive the FinTech spirit and the drive for innovation amid the throes of the COVID-19 circuit breaker. These regular engagements have been hugely successful in raising awareness, promoting collaboration, and sustaining investments in FinTech firms – so much so that we are looking at a record year for FinTech investments in 2020. Growing Timber and Green Shoots represent the two key horizontals of MAS’ developmental strategies for the financial sector – jobs and skills; and technology and innovation.

They help shape and implement mission critical technology projects, provide technical oversight for technology planning across the business, and set the technical standards to be followed. 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. Second, intermediate tech jobs, such as application developers, data analysts, UX/UI designers, and cyber security specialists. These are roles which Singaporeans with relevant background can potentially be trained into. MAS started a Technology in Finance Immersion Programme (TFIP) last year through which financial institutions recruited mid-career Singaporeans with STEM backgrounds from other sectors and put them through structured training and attachments in tech areas such as data analytics, cyber security, cloud computing, and full stack development. https://www.mas.gov.sg/news/speeches/2020/gearing-up-for-new-and-evolving-jobs-in-financial-services  8/18  04/12/2020  "Gearing up for New and Evolving Jobs in Financial Services" - Remarks by Mr Ravi Menon, Managing Director, Monetary Authorit…  The programme was highly popular. TFIP is in its second run this year with 21 financial institutions oﬀering over 190 trainee places, more than double that of last year. That said, we need to scale up much more because the demand for these roles continues to outstrip our pace of building skills. Third, basic tech jobs, such as tech support executive, IT ops and support. These roles are typically less complex and more rules-based.