[3 June 2009]
Banks in Singapore are hiring more IT graduates with a business bent

The emerging trend has been reaffirmed by the experience of students and faculty of the Master of IT in Business (Financial Services)

Singapore, 3 June 2009 - As the banking sector refocuses on its core business and strengthens its internal processes and operations, industry players say one group of talents they will need is more Technology and Operations professionals who understand the banking business.

“More and more banks, including global ones, have increased the size of their technology and operations centres in Singapore. Correspondingly, the employment base of technology and operations jobs has grown tremendously,” says Dean of the School of Information Systems, Singapore Management University, Practice Professor Steven Miller. “Our Master of IT in Business (Financial Services) is unique in that it is the first master's programme of its type in the world. It focuses on the banking industry's specific needs for technology, process and operations professionals for the four major segments of banking: namely capital markets and investment banking, corporate and institutional banking, private banking, and retail banking.”

“Today the whole financial industry finds itself at a crossroads. Financial firms that emerge successful will need to become more nimble, more operationally efficient, and have better control and risk frameworks to meet the dramatically changing global landscape and customer needs,” says Managing Director & Head, Group Technology and Operations of DBS Bank, Mr Dave Gledhill. “Responding to this change means a heavier reliance on, and increased demand for seasoned Technology and Operations leadership with a deep understanding of banking fundamentals to help drive the banking industry forward,” he says.

“In fact, in tough times, the role of Technology and Operations becomes even more critical, given that its role is in ensuring that processes are even more efficient and controls even more effective,” notes Chief Information Officer of Standard Chartered Bank, Singapore, Mr Shee Tse Koon.

“As our programme has been developed closely with the industry, we see a strong interest in our graduates. Banks have been asking for the CVs of our students,” says Director of the Master's programme, Practice Assistant Professor Michelle Cheong. 24-year-old Daniel Goh, who is from the pioneer batch of the Master's programme secured a job with the Technology and Operations Group of a foreign bank based in Singapore last October. He says, “To utilize the full suite of skills and experiences I had gained from the programme, I felt that it would be ideal to work in a bank. In fact, I am looking forward to starting next month.”

Launched in 2007, the Master's programme prepares working professionals in the technology and operations function of banks and financial institutions to assume broader and more senior levels of responsibility. It also prepares IT professionals from other industries to transition into the financial sector. Some 30 students will graduate in August.