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Banking and Finance
Singapore is the bustling hub of some of the most powerful and successful monetary organisations around the globe. Among the various financial markets that shape this centre of wealth are the Asian dollar market, foreign exchange market, commodities and derivatives market, and capital markets.
Career development
Candidates should possess a degree in banking and finance, accountancy or economics to be considered for positions such as trust professionals, shipping financiers and compliance officers. If you have a degree in computer science or electronics engineering, you may want to consider a career as a financial information technology engineer in the finance industry.
Job opportunities
As the needs of consumers become increasingly competitive, so does the world of consumer banking. This sector works extremely closely with consumers to offer financial products and services that include credit cards, home or car loans, insurance and unit trusts.
Large banks like DBS, Standard Chartered and Citibank recruit fresh graduates of nearly all disciplines to be employed initially as bank tellers, customer service officers or financial control, treasury and marketing staff. After gaining a few years’ experience, you may move up to take on product management roles. One of the main skill sets required in this line of work is the ability to build a strong rapport with new and existing customers. This is a fast-paced and exciting role which requires you to react to market needs and trends quickly.
With a banking and finance qualification, you can also choose to become a finance executive in one of Singapore’s multinational corporations. You will learn to use the popular MYOP and SAP accounting software packages as you take full responsibility in keeping a full set of books. You will also learn about costing and inventory control for the sector you are working for, which may involve the fields of manufacturing, logistics, medical health or education. There is a wide scope for this role as you learn the ropes and can progress to become the finance manager or director of a particular establishment.
To progress in this industry, you can always look to the Financial Industry Competency Standards (FICS) organisation which offers the certification and accreditation system needed to upgrade your skills in the finance industry. This organisation was developed by the Institute of Banking and Finance (IBF) and is supported by the Singapore Workforce Development Agency (WDA) and the Monetary Association of Singapore (MAS).
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