Collaborative Effort Focuses on Sustainable Finance and AI Skills to Prepare Workforce for Future Trends
NTUC and the Institute of Banking and Finance (IBF) have teamed up with seven financial associations to provide essential training for the financial sector workforce, focusing on sustainable finance and generative artificial intelligence (AI) skills. This partnership, formalized through a memorandum of understanding signed on August 16, aims to align upskilling and reskilling efforts with emerging sector needs and trends, ensuring that financial institutions and their employees are prepared for future challenges.
The collaboration will offer a range of programs, including training, mentoring, and career development opportunities. These initiatives are designed to equip workers with the knowledge and skills necessary to meet the region’s increasing demand for sustainable financing. NTUC and IBF emphasized that this partnership will help financial institutions remain competitive by fostering workforce transformation, supported by grants from NTUC’s Company Training Committees (CTCs).
Furthermore, the collaboration will provide employees with career advisory services, job placement assistance, and resources for navigating potential job displacements. NTUC assistant secretary-general Patrick Tay highlighted that this partnership is a crucial step in ensuring that professionals, managers, and executives in the financial sector are prepared for future challenges while also positioning them to succeed in a rapidly evolving industry.
The financial associations involved in the initiative include the Association of Banks in Singapore, Association of Financial Advisers, General Insurance Association of Singapore, Investment Management Association of Singapore, Life Insurance Association, Securities Association of Singapore, and Singapore FinTech Association.
