MAS Launches Grant Scheme to Promote Hiring and Training of Polytechnic Personnel for Financial Sector


Singapore, 24 April 2023…The Monetary Authority of Singapore (MAS) today announced the launch of the Polytechnic Talent for Finance Scheme to encourage financial institutions to recruit and train Polytechnic students and graduates. Announced.

2 speak in wood growth At today’s event, Minister of State Alvin Tan, the Ministry of Culture, Communities and Youth, the Ministry of Trade and Industry, and the Board of Directors of MAS shared that the financial sector offers good jobs and rewarding careers for polytechnic graduates. bottom. Financial institutions can do more to leverage Polytechnic graduates as a talent source and expand their overall talent pipeline in this field.

3 Through the Financial Sector Development Fund, MAS will secure S$8 million over the next three years for the Polytechnic Talent for Finance scheme. Administered by the Institute of Banking & Finance (IBF), the scheme consists of his three tracks:

  • for polytechnic students: internship Equip yourself with a job-ready skill set and be hired after graduation. The scheme will fund his 80% of monthly internship scholarships, capped at S$1,000 per month for up to 12 months for qualified intern.
  • For Polytechnic Graduates: apprenticeship It provides an alternative pathway to securing a good job, training, and ultimately a role equivalent to that of a college graduate immediately after earning a polytechnic diploma. The scheme provides salary support of up to S$2,000 per month for up to 12 months. For apprentices placed in graduate equivalent roles within three years of the start of the apprenticeship programme, the scheme provides salary support for an additional period of up to 12 months.
  • For financial professionals who hold diplomas: sponsorship To meet their academic aspirations to pursue relevant post-diploma and degree-equivalent programs while continuing to be employed. This scheme will fund 50% of the tuition fee, capped at S$10,000.

Four Gillian Tan, Assistant Managing Director (Development and International) at MAS, said: Co-created by MAS, Polytechnics and Financial Institutions, her PTFS enables Polytechnics talent to find meaningful work and succeed in careers in the financial sector. “

Five William Lim, Director of Business and Accounting Department at Ngee Ann Polytechnic (NP), who has been appointed Sector Coordinator for the Accounting and Financial Services Sector, said: Supports upskilling and reskilling needs. Through this collaboration, we look forward to strengthening university-industry collaboration and increasing opportunities for Polytechnic students and graduates to pursue professional development and careers in financial institutions. ”


Note to editors

NP was appointed by the Ministry of Education in 2015 as Departmental Coordinator for Accounting and Financial Services. This is to help develop the Polytechnic and her ITE competencies and strengthen industry linkages to enhance student job readiness. NP, along with representatives of other Institutes of Technology and ITE, is committed to the efforts of industry to ensure relevance to industry needs and consistency across courses within the cluster. Coordinate joint industry outreach to increase awareness of competencies. She will also support relevant institutions in identifying emerging trends and practices in the industry and support SkillsFuture Singapore and relevant institutions and professional organizations in developing sectoral skills frameworks.

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