we will not just learn to thrive in a digital world ; we will also learn digitally! and so, to promote the learning of skills under the new standard, besides the usual training programmes, ibf is developing learn @ ibf, a mobile learning app that will provide simple and concise information on these topics. you will get to see a preview of this app after this. i want to acknowledge our partners who helped to make this happen : amazon, facebook, ibm, luma and rainmaking innovation as well as our institutes of higher learning, training providers and of course, all of you, our financial institutions who are part of the ibf community. they provided and reviewed the content that will be posted on the app. 2 / 3 bis central bankers'speeches the next step is for financial institutions to work with their staff, particularly those in jobs undergoing transformation, to help them explore possible pathways and acquire the skills they need for the future. ultimately, whether we transform and succeed will depend on our finance professionals taking ownership of their own professional development. ibf will continue to introduce new platforms to help our finance professionals do just this. ibf has recently launched the myskills portfolio. this is an online tool which can be a useful resource for individuals to plan and manage their learning. myskills portfolio allows individuals to track their training progress and receive programme recommendations based on their training goals. it also functions as a repository of training records. most of all, ibf is about building a community. today we celebrate our latest cohort of ibf fellows and distinguished fellows. these individuals have contributed their time and expertise, not just on policy ideas, but also as speakers, trainers and mentors to our young finance professionals. all of you compete vigorously when it comes to business – and that is good. but together we have created something unique here in singapore ’ s financial sector : a shared vision for building up our capabilities ; working towards the greater good ; looking out for one another and bringing people along. and we must bring our people along. this is what will help ensure that our financial sector grows from strength to strength ; that we create good job opportunities for singaporeans ; that we build up skills and raise standards across the industry ; and that all those who work in the industry enjoy the fruits of growth. thank you once again for your strong support, and i wish everyone an enjoyable evening. 3 / 3 bis central bankers'speeches

##ans have quality jobs that complement and take advantage of new technologies. asia will grow, and the demand for quality in finance will grow. as global financial institutions restructure, and as technology transforms jobs in the next decade and beyond, we must ensure we are well prepared with the skills, depth of expertise and innovative capabilities to stay relevant and competitive. we have to continue to build globally competitive teams in singapore, by proactively developing our singaporean core while remaining open to foreign professionals with needed specialised experience and skill - sets. skills that make the financial sector of tomorrow in short, we can excel in finance and build rewarding careers for singaporeans. we move ahead from a solid base : a well - reputed financial centre with extensive links to the world, and a competent and skilled workforce. as we look to the future, we must develop capabilities in five areas, which i will touch on briefly in turn : ( i ) deep functional expertise ; ( ii ) cross - functional capability ; ( iii ) regional knowledge and experience ; ( iv ) technological skills and adaptability ; and ( v ) leadership ( i ) deep functional expertise first, we need to deepen functional expertise, across all areas of finance – in banking, capital markets and insurance. we are seeing a greater demand for specialised skills, for example in structured trade finance, reinsurance and specialty insurance. financial institutions need strong expertise in risk management and compliance. in wealth management, there is demand for more sophisticated investment strategies that better hedge risks, and for being able to execute these strategies efficiently. these are all areas in which singaporeans can excel. ( ii ) cross - functional capability second, we are seeing greater demand for finance professionals with cross - functional abilities, besides a core competence in a particular business area. this is obviously helpful in small institutions, but is also in demand in large institutions as different financial services are being integrated and packaged together for the customer. cross - functional knowledge and competence also enables financial professionals to take on larger responsibilities, and to achieve greater resilience in their careers in a fast - changing financial sector landscape. ( iii ) regional knowledge and experience third, regional knowledge and experience. it is now an essential for a good career in finance, not just nice to have. we must give it far greater emphasis, and encourage and support singaporeans in building up this capacity. cross - border solutions and transactions are increasingly the norm in the business. strong regional knowledge is also necessary in meeting clients ’ needs, whether in