Singapore to "reskill" finance professionals lagging industry changes

It set up a centre with IBF to provide advisory services.

Singapore's Institute of Banking and Finance (IBF) will set up a Career Centre by July 2018 to provide advisory services for financial industry professionals.

According to a joint media release with the Monetary Authority of Singapore (MAS), the centre will provide a suite of services ranging from setting competency standards and promoting skills development, to career advisory, job matching, and placements.

IBF will prioritise "reskilling" professionals that are affected by changes caused by their financial institutions' new business models.

IBF will also provide job placement assistance to individuals, and match them with other jobs in the financial sector.

The centre will absorb the functions of the Financial Industry Career Advisory Centre (FiCAC) when it is fully set up.

"Until then, individuals seeking career advisory and job placement services should continue to approach FiCAC," MAS and IBF said.