More than 3,000 jobs on offer in financial services, with 9 in 10 for PMETs

Roles with the highest number of job vacancies include compliance officers or risk analysts.
Roles with the highest number of job vacancies include compliance officers or risk analysts.PHOTO: ST FILE

SINGAPORE - About 3,010 jobs are available in the financial services sector, with nine in 10 for professionals, managers, executives and technicians (PMETs).

They make up slightly more than half or 57 per cent of the nearly 5,200 jobs, traineeship and attachment openings available in the sector as at end-November, said the Ministry of Manpower (MOM) in its final jobs situation report for the year on Thursday (Dec 17).

Roles with the highest number of job vacancies include compliance officers or risk analysts, which have a median monthly pay of $9,100, as well as software, Web and multimedia developers, which have a median monthly pay of $7,750.

Other in-demand roles are management and business consultants, which have a median monthly salary of $7,500, and financial analysts which command a median monthly salary of $6,500.

On top of these jobs available under the SGUnited Jobs and Skills package, the Monetary Authority of Singapore's (MAS) Employment Outlook Survey in June found that more than 30 financial institutions intend to hire for about 1,800 jobs from July this year to June next year.

About half of the hiring demand is from technology functions, including application developers, application architects and business analysts.

There is also healthy growth in hiring in business segments such as private banking and wealth management, corporate banking, consumer banking and insurance, according to the pilot MAS survey.

“MAS continues to look for new opportunities to entrench, grow and strengthen our enablers, with the end outcome of ensuring that our financial services sector continues to create good jobs for Singaporeans,” said Ms Thong Leng Yeng, executive director of MAS’ financial centre development department.

To build a pipeline of local talent in the sector, MAS and the Institute of Banking and Finance (IBF) will partner financial institutions to create jobs and progression opportunities for Singaporeans. 

MAS will also support financial institutions to groom Singaporeans with high potential for leadership roles through structured talent development programmes and regional postings. 

New training and attachment programmes will also be developed to help mid-career professionals move into growth areas in the sector. 

The new programmes will be modelled after the Technology in Finance Immersion Programme (TFIP), which was launched in April last year and has seen more than 260 professionals taking part.

Employers can also tap career conversion programmes to hire mid-career job seekers.

In addition, 1,900 existing workers in the sector whose jobs were at risk of being lost to automation have been reskilled and redeployed into new roles. Another 3,400 workers are undergoing or will be undergoing reskilling for new roles.