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Skills and Talent Development

MAS works closely with tripartite partners to build a skilled and adaptable Singapore workforce in finance. Find out how the Talent and Leaders in Finance Programme helps develop early career and mid-career professionals, as well as specialists and leaders for the financial sector. 
The Talent and Leaders in Finance Programme will help nurture more Singaporean specialists and leaders in Finance and ensure that Singaporeans are able to take up good jobs that the financial services sector will continue to generate in the years to come.”

- Lawrence Wong, Deputy Prime Minister, and Deputy Chairman of the Monetary Authority of Singapore
ITM 2025: Forging New Growth Pathways Opening Address at the Financial Services Industry Transformation Map 2025 Launch Event

Overview

Financial institutions can get support for hiring and training (1.7 MB) as well as support for workforce transformation, while finance professionals can tap on funding for skill and career development (655.8 KB), offered by various government agencies.

In particular, MAS has set aside S$400 million in grant funding from the Financial Sector Development Fund for the Talent and Leaders in Finance Programme over 2021 – 2025 to support skills training and to develop more finance specialists and leaders in the Singapore workforce. 

  • Build workforce competencies in growth areas and provide training support for finance professionals at different stages of their careers
  • Develop specialist talent in areas such as sustainability and technology
  • Develop leaders through opportunities to acquire expertise, international exposure, and networks to help them succeed in their leadership roles

We provide support to financial institutions to enhance the job readiness of fresh graduates and to develop new talent pools for the financial sector. 

Financial institutions Financial institutions refer to entities regulated by the Monetary Authority of Singapore. and individuals may tap on the following programmes and schemes administered by the Institute of Banking and Finance (IBF) IBF is the Jobs Development Partner for the financial industry appointed by the National Jobs Council.:

Polytechnic Talent for Finance Scheme (PTFS)

Expands the opportunities available to polytechnic students and graduates in the financial sector through internships, apprenticeships and sponsorships.  

Develop skills in:

  • Functional domains (e.g. Portfolio Management, Private Banking, Research, Trading, Investment, Actuarial and Insurance)

Funding:

  • Internship Track: Training Allowance (80% of monthly stipend, capped at $1,000 per qualifying intern, for up to 12 months)
  • Apprenticeship Track: Salary Support For each qualifying apprentice hire, the funding is $2,000 per month, capped at 12 months for priority areas. $1,000 per month, capped at 12 months for non-priority or other general areas. Additional funding at the same level for up to 12 months, if the apprentice is emplaced into a university-equivalent role after completion of the apprenticeship programme.
  • Sponsorship Track: Tuition Fee Support (50% of tuition fees, capped at $10,000)

Refer to Infographic on PTFS (233 KB).

 

Eligible applicants:

  • Financial institutions 
Finance Associate Management Scheme (FAMS)

Grooms recent graduates for future specialist and management roles.

Develop skills in:

  • Functional domains (e.g. Portfolio Management, Private Banking, Research, Trading, Investment, Actuarial and Insurance)
  • Sustainable Finance
  • Technology
  • International capability

Funding:

  • Salary SupportThe funding is $2,000 per month, capped at 2 years for priority areas. $1,000 per month, capped at 2 years for non-priority or other general areas. In addition to salary support, the funds can be used to offset other employment expenses like training costs.
  • Posting expenses ($5,000 per month for overseas attachment, capped at 6 months)

Eligible applicants:

  • Financial institutions
Financial Training Scheme (FTS)

Provides funding for financial institutions’ employees in in-house and external training programmes that are recognized by IBF.

Develop skills in:

  • Functional domains (financial-sector relevant courses)
  • Sustainable Finance
  • Technology (mainly on Data Analytics, Technology Application and Cybersecurity)

Funding:

  • Course Fee Support (ranging from 30% to 90% funding support, depending on course start date)

Eligible applicants:

  • Financial institutions
  • Fintech firms certified by the Singapore FinTech Association

IBF-Standards Training Scheme (IBF-STS)

Provides funding for in-house and external training programmes that are accredited by IBF.

 

Individuals who successfully complete an eligible IBF-STS accredited assessment programme and meet the relevant criteria can apply for IBF Certification - an industry endorsed mark of quality for finance professionals in Singapore. Find out more on how you can apply .

Develop skills in:

  • Functional domains (Areas under Skills Framework for Financial Services – including Sales/relationship management, Trading and Execution, Product Solutioning and Management, Operations, Risk, Compliance)
  • Sustainable Finance
  • Technology (mainly on Data Analytics, Technology Application and Cybersecurity)

Funding:

  • Course Fee Support (ranging from 50% to 90% funding support, depending on course start date)

Eligible applicants:

  • Individuals
  • Financial institutions
  • Fintech firms certified by the Singapore FinTech Association

  

We provide support to deepen competencies, reskill professionals to enable them to take on new or expanded roles and nurture specialist talent in technology and sustainability. Financial institutions are also encouraged to invest in their employees and in new talent, especially in growth areas like sustainability and technology.

Financial institutions [1] and individuals may tap on the following programmes and schemes, administered by the Institute of Banking and Finance (IBF) [2] :

Financial Training Scheme (FTS)

Provides funding for financial institutions’ employees in in-house and external training programmes that are recognized by IBF.

Develop skills in:

  • Functional domains (financial-sector relevant courses)
  • Sustainable Finance
  • Technology (mainly on Data Analytics, Technology Application and Cybersecurity)

Funding:

  • Course Fee Support (ranging from 30% to 90% funding support, depending on course start date)

Eligible applicants:

  • Financial institutions
  • Fintech firms certified by the Singapore FinTech Association

IBF-Standards Training Scheme (IBF-STS)

Provides funding for in-house and external training programmes that are accredited by IBF.

 

Individuals who successfully complete an eligible IBF-STS accredited assessment programme and meet the relevant criteria can apply for IBF Certification - an industry endorsed mark of quality for finance professionals in Singapore. Find out more on how you can apply .

Develop skills in:

  • Functional domains (Areas under Skills Framework for Financial Services – including Sales/relationship management, Trading and Execution, Product Solutioning and Management, Operations, Risk, Compliance)
  • Sustainable Finance
  • Technology (mainly on Data Analytics, Technology Application and Cybersecurity)

Funding:

  • Course Fee Support (ranging from 50% to 90% funding support, depending on course start date)

Eligible applicants:

  • Individuals
  • Financial institutions
  • Fintech firms certified by the Singapore FinTech Association
Technology in Finance Immersion Programme (TFIP)  [4]

Supports mid-career professionals, with no prior work experience in identified technology fields, to acquire skills in those fields through training and attachment with financial institutions.

Develop skills in:

  • Technology [3]

Funding:

  • Training Allowance ($4,500 per month for ‘Agile IT Project Management’ and ‘Business Analysis’ track, $5,500 per month for the rest of the tracks)
  • Course Fee Support

Eligible applicants:

  • Individuals
  • Financial institutions
International Postings Programme (iPOST)

Supports financial institutions in grooming Singaporeans through overseas postings to build international capabilities.

Develop skills in:

  • International capability

Funding:

Single Track

Until 31 December 2024

  • Salary support (Only for Asian postings. 50% of qualifying cost, subject to overall cap of $80,000 for total posting expenses)
  • Non-salary posting expenses (50% of qualifying cost, subject to overall cap of $80,000 for Asia postings, or $50,000 for non-Asia postings)

From 1 January 2025

  • S$80,000 per SC per year for all postings within Asia and postings to develop specialised capabilities in Sustainable Finance, Artificial Intelligence or Quantum Computing (regardless of location), capped at 2 years; and
  • S$50,000 per SC per year for all other postings, capped at 2 years.

Group Track

From 1 November 2024

  • S$80,000 per SC per year for all postings within Asia and postings to develop specialised capabilities in Sustainable Finance, Artificial Intelligence or Quantum Computing (regardless of location), capped at 3 years; and
  • S$50,000 per SC per year for all other postings, capped at 3 years.

Eligible applicants:

  • Financial institutions based in Singapore
Career Conversion Programme (CCP) 

Provides salary support for financial institutions to hire and train mid-career professionals or reskill employees to take on new or redesigned/augmented job roles in growth areas.

Develop skills in:

  • Functional domains (e.g. Project Management, Compliance)
  • Technology

Funding:

Salary support for CCP trainees who commenced training from 1 April 2024[5]

  • Up to 70% of monthly salary capped at $5,000 per month for standard rate
  • Up to 90% of monthly salary capped at $7,500 per month for enhanced rate[6]

 

Eligible applicants:

  • Financial institutions
IBF Careers Connect

Provides career advisory services to individuals interested in a finance career, including finance professionals taking on new roles and other professionals making a career switch to the financial sector.  

What individuals can gain:

  • Insights on careers in the financial sector, career advisory and career coaching.

Eligible applicants:

  • Individuals

[1]  Financial institutions refer to entities regulated by the Monetary Authority of Singapore.

[2]  IBF is the Jobs Development Partner for the financial industry appointed by the National Jobs Council.

[3]   For each qualifying apprentice hire, the funding is $2,000 per month, capped at 12 months for priority areas. $1,000 per month, capped at 12 months for non-priority or other general areas. Additional funding at the same level for up to 12 months, if the apprentice is emplaced into a university-equivalent role after completion of the apprenticeship programme.

[4]  Supported by Workforce Singapore (WSG).

[5]   For CCP trainees who commenced training before 1 April 2024, their employers will receive salary support based on previous caps (i.e. standard rate – capped at $4,000 per month and enhanced rate – capped at $6,000 per month).

[6]   Enhanced rate is applicable for mature SC/PR trainees 40 years and older in the year of commencement of the programme, or long-term unemployed SC/PR trainees who are unemployed and actively seeking employment for 6 months or more prior to commencement of the programme.

We support financial institutions in developing and nurturing Singaporeans to assume leadership roles in the financial sector.

Financial institutions [1] may tap on the following programmes and schemes, administered by the Institute of Banking and Finance (IBF) [2] to support this:

Asian Financial Leaders Scheme (AFLS)

Supports financial institutions in developing their mid-level professionals and senior leaders via eligible leadership programmes.

Develop skills in:

  • Leading financial services firms
  • International capability

Funding:

  • Course Fee Support (75% per participant, capped at $35,000 if course completion is between 1 Jul 2023 and 31 Dec 2024. 50% per participant, capped at $25,000 if course completion is between 1 Jan 2025 and 31 Dec 2028)

Eligible applicants:

  • Financial institutions based in Singapore
International Postings Programme (iPOST)

Supports financial institutions in grooming Singaporeans through overseas postings to build international capabilities.

Develop skills in:

  • International capability

Funding:

Single Track

Until 31 December 2024

  • Salary support (Only for Asian postings. 50% of qualifying cost, subject to overall cap of $80,000 for total posting expenses)
  • Non-salary posting expenses (50% of qualifying cost, subject to overall cap of $80,000 for Asia postings, or $50,000 for non-Asia postings)

From 1 January 2025

  • S$80,000 per SC per year for all postings within Asia and postings to develop specialised capabilities in Sustainable Finance, Artificial Intelligence or Quantum Computing (regardless of location), capped at 2 years; and
  • S$50,000 per SC per year for all other postings, capped at 2 years.

Group Track

From 1 November 2024

  • S$80,000 per SC per year for all postings within Asia and postings to develop specialised capabilities in Sustainable Finance, Artificial Intelligence or Quantum Computing (regardless of location), capped at 3 years; and
  • S$50,000 per SC per year for all other postings, capped at 3 years.

Eligible applicants:

  • Financial institutions based in Singapore

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