INDUSTRY INSIGHTS: FINANCIAL SERVICES

24/10/2023

With more than 130 local and foreign banks operating here, Singapore is a flourishing global financial centre, catering not only to the domestic market but also the Asia-Pacific region.

The financial services industry is a key pillar of the Singapore economy. The sector is experiencing a rapid increase in demand for skilled professionals, making it one of the fastest-growing job sectors. Under the refreshed Financial Services Industry Transformation Map (ITM) 2025, the sector is projected to create an average of 3,000 to 4,000 net job annually until 2025.

 

With the rise of sustainability, digital banking and financial technology, there has been a shift towards innovative solutions and new technologies, creating a need for diverse talents. 

 

The industry provides a wide range of job opportunities, from entry-level to executive positions, with various job functions, such as investment banking, retail banking, private banking, and corporate banking. 

 

To succeed in the banking industry, professionals must possess a strong work ethic, a willingness to learn, and the ability to adapt to new technologies and market trends. Additionally, strong communication and interpersonal skills and a customer-centric approach are essential to building and maintaining strong relationships with clients. 

 

The banking industry also offers plenty of opportunities for career advancement, with the potential for promotion to leadership roles and the ability to develop specialised skills through training and professional development programs. Overall, jobs in the banking industry offer a dynamic and challenging career path for individuals who are looking for a career in finance and are committed to lifelong learning and professional growth.