Over 3,000 jobs available in Singapore's financial sector

Financial services industry registers "creditable" growth despite pandemic challenges

Over 3,000 jobs available in Singapore's financial sector

Insurance News

By Gabriel Olano

More than 3,000 jobs in the financial services sector were available as of end-November, according to Singapore’s Ministry of Manpower (MOM).

More than 96% of these jobs are professional, manager, executive and technician (PMET) roles such as compliance, risk management and financial analysis, according to MOM’s jobs situation report.

Despite the challenges posed by the COVID-19 pandemic, Singapore’s financial services sector performed “creditably” in 2020, with an average growth of 4.7% for the first three quarters of the year, the ministry said. Around 1,900 jobs were created in the first half, all of which went to locals.

“Even though the economic recovery has been uneven and remains uncertain, [financial institutions] in Singapore continue to expect to hire,” MOM said.

Meanwhile, the Monetary Authority of Singapore’s employment outlook survey showed that the financial services sector plans to create around 1,800 net jobs between July 2020 and June 2021.

“About half of the hiring demand is from technology functions, including application developers, application architects, and business analysts,” MOM said. “There is also healthy growth in hiring in business segments such as private banking and wealth management, corporate banking, consumer banking, and insurance.

MAS is actively working with industry to capture new opportunities to grow the sector and provide good jobs for Singaporeans, in areas such as green finance, pandemic risk financing and restructuring & insolvency.”

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