three bachelor of science programmes, across finance, business analytics, and human resources. students spend about one to two days in class, and three to four days at work each week for a period of one or two years. now in its fourth year, the programme has taken in 37 students. this includes 22 who have graduated from the programme, of which 9 students have successfully secured a job [UNK] at the bank before graduation. the wsdeg programme is a win - win proposition. the students get an early taste of what the industry is like which can help them make better informed career decisions. for the firms, internships are an [UNK] talent attraction tool – employers can tell a lot more about the suitability of prospective employees through a short internship on the job compared to any number of interviews and tests. we need to dramatically scale up such programmes. https : / / www. mas. gov. sg / news / speeches / 2020 / gearing - up - for - new - and - evolving - jobs - in - financial - services 14 / 18 04 / 12 / 2020 " gearing up for new and evolving jobs in financial services " - remarks by mr ravi menon, managing director, monetary authorit … mas will introduce a new work - study support programme to co - fund the internship stipend of students who are trainees at financial institutions under wsdeg programme. funding will be at 80 % of the monthly stipend, capped at s $ 1, 000 per trainee. mas has been working with the private banking industry for an indicative commitment of about 200 trainees over the next 3 years. we plan to expand our [UNK] in other growth areas too, such as asset management. i urge more financial institutions to come onboard these internship programmes, so that we can more purposefully build a strong singaporean talent pipeline for the financial sector. job retention through upskilling https : / / www. mas. gov. sg / news / speeches / 2020 / gearing - up - for - new - and - evolving - jobs - in - financial - services 15 / 18 04 / 12 / 2020 " gearing up for new and evolving jobs in financial services " - remarks by mr ravi menon, managing director, monetary authorit … the third dimension of our jobs and skills agenda is job retention – to keep the existing workforce employable and relevant through continuous upskilling. we are going about this task in a systematic and rigorous manner. first, mas and ibf conducted a detailed

- services 17 / 18 04 / 12 / 2020 " gearing up for new and evolving jobs in financial services " - remarks by mr ravi menon, managing director, monetary authorit … mas will extend our enhanced training support measures for another 6 months to june 2021. these include : the extension of ibf ’ s 5 % course fee credit, which when stacked with the enhanced training subsidies under ibf, will bring the total course fee support to 95 % ; and the extension of the training allowance grant of $ 15 per training hour for companysponsored trainees. ibf will expand the list of courses eligible under the financial training scheme to include deep - technology courses and certifications for a time - limited period. i urge all financial institutions and fintech firms to continue to tap on the enhanced training support measures to help your workers upskill and acquire new capabilities to stay employed. conclusion let me close now. growing timber is a long - term commitment. so is the jobs and skills [UNK] - creating job opportunities, fostering job readiness, and supporting job retention. the [UNK] take time to bear fruit. but with persistence and an enterprising spirit, we will create a lush forest : a world - class financial sector workforce ready for the future. © 2020, government of singapore. https : / / www. mas. gov. sg / news / speeches / 2020 / gearing - up - for - new - and - evolving - jobs - in - financial - services 18 / 18