The Financial Authority of Singapore (MAS), in collaboration with the Institute of Banking and Finance (IBF) and Workforce Singapore (WSG), has launched the Sustainable Finance Jobs Transformation Map (JTM).
This initiative outlines the required abilities updates for the native monetary companies sector on account of growing sustainability traits.
MAS has recognized 20 distinctive job roles as excessive precedence for upskilling. Key roles embrace relationship managers in company banking, who would require data of sectoral decarbonization pathways and sustainable finance devices to raised determine and clarify related companies to purchasers.
Portfolio managers will want superior abilities in sustainable funding administration and the aptitude to assemble funding portfolios that align with buyers’ sustainability methods and preferences.
Moreover, the sector will see the emergence of recent job roles in areas akin to Sustainability Danger and Sustainability Technique, reflecting the growing emphasis on sustainability in enterprise methods.
These roles will demand specialised data, akin to the power to design enterprise-level sustainable finance methods and implement sustainability danger administration insurance policies.
A current examine by KPMG anticipates the ASEAN sustainable finance market may develop to S$4 to S$5 trillion over the subsequent decade.
This projection underscores the significance of making ready over 50,000 monetary professionals to combine sustainable finance duties into their roles, significantly in danger administration, compliance, and shopper relationship sectors.
To help this abilities transformation, MAS has dedicated S$35 million from the Monetary Sector Improvement Fund.
This fund will improve the capabilities of monetary professionals by a spread of recent instructional programmes.
Initiatives embrace the introduction of sustainable finance-focused undergraduate programmes at Nanyang Technological College and the Nationwide College of Singapore, alongside over 65 new government programs launching this yr.
These efforts are augmented by the implementation of the IBF Expertise Badge, which can recognise professionals’ experience in sustainable finance, aiding in skill-based hiring and promotions.
Chia Der Jiun
Chia Der Jiun, Managing Director, MAS stated,
“ASEAN’s sizeable sustainable financing wants over the subsequent decade current important alternatives for Singapore’s monetary centre to help the area’s transition to web zero.
MAS is strongly supportive of efforts throughout monetary establishments and the coaching suppliers to upskill the monetary companies sector workforce in a well timed trend. I encourage professionals to faucet on the accessible help and deepen their sustainable finance capabilities to seize these alternatives.”
