Skills Framework for Financial Services

SkillsFuture Orange Banner of man with telescope

What Is it?

The Skills Framework (SFw) is a SkillsFuture initiative developed for the Singapore workforce to promote skills mastery and lifelong learning, and is an integral component of the Financial Services Industry Transformation Plan.

Jointly developed by SkillsFuture Singapore (SSG), Workforce Singapore (WSG), Monetary Authority of Singapore (MAS), and the Institute of Banking and Finance (IBF), together with industry associations, training providers, organisations and unions, the Skills Framework for Financial Services provides useful information on:

  • Sector information;

  • Career pathways;

  • Occupations and job roles;

  • Existing and emerging skills; and

  • Training programmes for skills upgrading and mastery.

Who Is It For?

Individuals who wish to join or progress within the Financial Services sector, to assess their career interest, identify relevant training programmes to upgrade their skills and prepare for the desired job roles.

Employers will be able to recognise these skills and invest in training their employees for career development and skills upgrading.

Training Providers can gain insights on sector trends, existing and emerging skills that are in demand, and design programmes to address the industry needs accordingly.

How Does It Work?

The SFw for Financial Services contains information on trends, career pathways, occupations, job roles, skills and competencies and training programmes.


(i) Sector Information

This section provides information on the SFw for Financial Services, including information on trends and workforce profiles in the sector.
Click here (PDF, 4.34 MB)to download the Guide to Occupations and Skills for the SFw for Financial Services.

 

(ii) Career Pathways

The Career Pathways show the possible options for vertical and lateral progression for advancement and growth. Six (6) tracks have been identified which encompass 158 job roles:

  • Sales, After Sales, Distribution and Relationship Management
  • Trading and Execution
  • Product Solutioning and Management
  • Operations
  • Digital and Data Analytics
  • Risk, Compliance and Legal

Click to download the Career Pathways for the Financial Services sector.[PDF (PDF, 119.08 KB)]

Click here for Family Office Career Pathway.

Or click below to download the Career Pathways for the respective sub-sectors.

(a) Retail Banking [PDF (PDF, 74.03 KB)]
(b) Corporate Banking [PDF (PDF, 70.24 KB)]
(c) Investment Banking [PDF (PDF, 70.85 KB)]
(d) Private Banking and Wealth Management [PDF (PDF, 74.83 KB)]
(e) Asset Management [PDF (PDF, 65.09 KB)]
(f) Insurance [PDF (PDF, 130.9 KB)]

 

(iii) Skills Map

The Skills Maps covers a total of 158 job roles, critical work functions, key tasks and skills and competencies aligned to the six tracks (including the Family Office Advisor Skills Map).


(a) View the Occupations/Job Roles under the SFw for Financial Services

Click on the tracks listed below to download the Skills Map for each track.

Sales, After Sales, Distribution and Relationship Management

Trading and Execution

Product Solutioning and Management 

Operations

Digital and Data Analytics

Risk, Compliance and Legal

 

(iv) Skills and Competencies

The Skills and Competencies identified for each of the job roles fall under two broad classifications: (i) Technical Skills and Competencies, and (ii) Critical Core Skills (previously known as Generic Skills and Competencies).


(a) View the Technical Skills and Competencies for the SFw for Financial Services

Technical Skills and Competencies comprise occupation/job-specific knowledge, skills and abilities that a person needs to have to perform the various tasks.

Click the following link to download the Overview of Technical Skills and Competencies for the SFw for Financial Services.[PDF  (PDF, 632.13 KB)/ Word (XLSX, 558.64 KB)

Click here (ZIP, 13.5 MB) to download all Technical Skills and Competencies for the SFw for Financial Services.

Business Development and Strategy Management

Customer Relationship and Stakeholder Management 

Data Analytics and Information Technology Management

Investment and Financial Management

People Development

Product, Sales and Market Management

Risk Management, Governance and Regulatory Compliance

  • Asset and Liability Management [PDF / Word]

  • Business Continuity Planning [PDF / Word]

  • Business Risk Assessment [PDF / Word]

  • Compliance Mindset Development [PDF / Word]

  • Corporate and Business Law Application [PDF / Word]

  • Corporate Governance [PDF / Word]

  • Credit Risk Management [PDF / Word]

  • Customer Acceptance Checking and Onboarding [PDF / Word]

  • Fraud Risk Management [PDF / Word]

  • Market Risk Management [PDF / Word]

  • Monitoring and Surveillance [PDF / Word]

  • Operational Risk Management [PDF / Word]

  • Policy Implementation and Revision [PDF / Word]

  • Portfolio and Investment Risk Management [PDF / Word]

  • Regulatory and Legal Advisory [PDF / Word]

  • Regulatory Compliance [PDF / Word]

  • Regulatory Risk Assessment [PDF / Word]

  • Risk Analytics [PDF / Word]

  • Risk and Compliance Reporting [PDF / Word]

  • Risk Appetite and Goals Setting [PDF / Word]

  • Risk Management [PDF / Word]

  • Scenario Planning and Analysis [PDF / Word]

  • Security Governance [PDF / Word]


(b) View the Critical Core Skills (previously known as Generic Skills and Competencies) for the SFw for Financial Services

Each job role in every Skills Framework developed has Generic Skills and Competencies (GSCs) identified. The GSCs are employability/transferable skills and competencies.

 

An industry review of the GSCs was conducted in 2019, culminating in the creation of the Critical Core Skills (CCS). Visit this link to access information about the CCS. Users of the Skills Framework can also locate the GSC-to-CCS mapping document and advisory there.


(v) Training Programmes

The Training Programmes provide information on skills acquisition that are available for new entrants and in-service personnel to acquire skills and competencies required for various job roles in the Financial Services sector.


(a) View the Training Programmes for new entrants

These are programmes that equip new entrants with skills and knowledge for the specific job role in the sector at their respective entry level.

Click on the tracks below to download the Training Programmes for each job role.

  • Sales, After Sales, Distribution and Relationship Management [PDF/ Word
  • Trading and Execution [PDF/ Word]
  • Product Solutioning and Management [PDF/ Word]
  • Operations [PDF/ Word]
  • Digital and Data Analytics [PDF/ Word]
  • Risk, Compliance and Legal [PDF/ Word]

(b) View the Training Programmes for in-service personnel

For in-service employees who work in the Financial Services sector and who aspire to take on more challenging roles at work, you can identify and enrol in the training programmes listed here to acquire the relevant skills.

These are programmes for in-service personnel to broaden or deepen specific skills and knowledge for the various job roles in the sector. 

Sales, After Sales, Distribution and Relationship Management

  • Agency Director/Segment Lead [PDF/ Word]

  • Agency Manager/Team Lead [PDF/ Word]

  • Financial Planner/Insurance Agent/Bancassurance Specialist [PDF/ Word]

  • Head of Business Development/Head of Distribution/Head of Channel/Head of Partnerships and Affinity Management [PDF/ Word]

  • Business Development Manager/Distribution Manager/Channel Manager/Partnerships and Affinity Management Manager [PDF/ Word]

  • Business Development Executive/Distribution Executive/Channel Executive/Partnerships and Affinity Management Executive [PDF/ Word]

  • Head of Business Development - Brokers [PDF/ Word]

  • Business Development Manager - Brokers [PDF/ Word]

  • Broker/Business Development Executive - Brokers [PDF/ Word]

  • Head of Branch Management [PDF/ Word]

  • Branch Manager [PDF/ Word]

  • Head of Customer Service [PDF/ Word]

  • Customer Service Manager [PDF/ Word]

  • Customer Service Officer/Bank Teller [PDF/ Word]

  • Relationship Management Director - Retail/Head of Personal Banking [PDF/ Word]

  • Relationship Manager - Retail Banking/Personal Banking Manager [PDF/ Word]

  • Assistant Relationship Manager - Retail Banking/Personal Banking Executive [PDF/ Word]

  • Relationship Management Director - Private Banking/Team Leader [PDF/ Word]

  • Relationship Manager - Private Banking [PDF/ Word]

  • Assistant Relationship Manager - Private Banking [PDF/ Word]

  • Relationship Management Director - Small and Medium Enterprises [PDF/ Word]

  • Relationship Manager - Small and Medium Enterprises [PDF/ Word]

  • Relationship Management Director - Commercial [PDF/ Word]

  • Relationship Manager - Commercial [PDF/ Word]

  • Relationship Management Director - Corporate and Large Multi-National Companies [PDF/ Word]

  • Relationship Manager - Corporate and Large Multi-National Companies [PDF/ Word]

  • Relationship Management Director - Financial Institutions and Non-Bank Financial Institutions [PDF/ Word]

  • Relationship Manager - Financial Institutions and Non-Bank Financial Institutions [PDF/ Word]

  • Assistant Relationship Manager/Relationship Associate [PDF/ Word]

  • Head of Sales and Distribution/Head of Coverage [PDF/ Word]

  • Sales and Distribution Specialist/Coverage Officer [PDF/ Word]

  • Head of Product Desk/Head of Product Sales [PDF/ Word]

  • Product Specialist/Product Sales Specialist [PDF/ Word]

  • Investment Counsellor Team Lead [PDF/ Word]

  • Investment Counsellor [PDF/ Word]

  • Investment Counsellor Assistant [PDF/ Word]

  • Head of Product Origination and Structuring [PDF/ Word]

  • Product Origination and Structuring Manager [PDF/ Word]

  • Product Origination and Structuring Analyst [PDF/ Word]

  • Head of Client Implementation [PDF/ Word]

  • Client Implementation Manager [PDF/ Word]

  • Client Implementation Analyst [PDF/ Word]

  • Head of Client Service/Client Support Services Director [PDF/ Word]

  • Client Service Manager/Client Support Service Manager [PDF/ Word]

  • Client Service Officer/Client Support Service Officer [PDF/ Word]

  • Head of Client Management/Head of Account Management [PDF/ Word]

  • Client Support Manager/Account Manager [PDF/ Word]

  • Client Executive/Account Management Executive [PDF/ Word]

  • Head of Placement [PDF/ Word]

  • Placement Manager [PDF/ Word]

  • Placement Executive [PDF/ Word]

  • Head of Claims Liaison [PDF/ Word]

  • Claims Liaison Manager [PDF/ Word]

  • Claims Liaison Executive [PDF/ Word]

  • Head of Business Management [PDF/ Word]

  • Business Manager [PDF/ Word]

Trading and Execution

  • Head of Trading Desk/Head of Trading Floor/Head of Dealing/Head of Execution [PDF/ Word]

  • Execution Trader [PDF/ Word]

  • Trader [PDF/ Word]

  • Quantitative Trader [PDF/ Word]

Product Solutioning and Management 

  • Head of Portfolio Management [PDF/ Word]

  • Client Portfolio Manager [PDF/ Word]

  • Client Portfolio Analyst [PDF/ Word]

  • Portfolio Manager/Investment Manager/Fund Manager [PDF/ Word]

  • Portfolio Analyst/Investment Analyst/Fund Management Assistant [PDF/ Word]

  • Head of Segments [PDF/ Word]

  • Segment Manager [PDF/ Word]

  • Segment Executive [PDF/ Word]

  • Head of Product Management [PDF/ Word]

  • Product Manager [PDF/ Word]

  • Product Analyst [PDF/ Word]

  • Product Development Manager [PDF/ Word]

  • Product Development Analyst [PDF/ Word]

  • Head of Product Marketing [PDF/ Word]

  • Product Marketing Manager [PDF/ Word]

  • Product Marketing Executive [PDF/ Word]

  • Head of Strategy/Head of Investment Strategy [PDF/ Word]

  • Senior Economist [PDF/ Word]

  • Economist [PDF/ Word]

  • Research Analyst [PDF/ Word]

  • Head of Reserving and Pricing Actuarial [PDF/ Word]

  • Reserving and Pricing Actuarial Manager [PDF/ Word]

  • Reserving Actuarial Executive [PDF/ Word]

  • Pricing Actuarial Executive [PDF/ Word]

  • Head of Wealth Planning/Director of Wealth Planning [PDF/ Word]

  • Wealth Planner [PDF/ Word]

  • Assistant Wealth Planner [PDF/ Word]

  • Head of Trust Administration [PDF/ Word]

  • Trust Manager [PDF/ Word]

  • Trust Administrator [PDF/ Word]

Operations

  • Head of Underwriting [PDF/ Word]

  • Underwriting Manager [PDF/ Word]

  • Underwriting Executive [PDF/ Word]

  • Head of Claims [PDF/ Word]

  • Claims Manager [PDF/ Word]

  • Claims Appraiser/Claims Examiner/Claims Executive [PDF/ Word]

  • Head of Operations [PDF/ Word]

  • Account Operations Manager [PDF/ Word]

  • Account Operations Analyst [PDF/ Word]

  • Credit and Lending Operations Manager [PDF/ Word]

  • Credit and Lending Operations Analyst [PDF/ Word]

  • Transaction Banking Operations Manager [PDF/ Word]

  • Transaction Banking Operations Analyst [PDF/ Word]

  • Treasury Operations Manager/Market Operations Manager [PDF/ Word]

  • Treasury Operations Analyst/Market Operations Analyst [PDF/ Word]

  • Head of Operations Risk and Control [PDF/ Word]

  • Operations Risk and Control Manager [PDF/ Word]

  • Operations Risk and Control Analyst [PDF/ Word]

  • Head of Client Investment Performance and Reporting [PDF/ Word]

  • Client Investment Performance and Reporting Analyst [PDF/ Word]

  • Head of Know Your Customer/Customer Due Diligence/Head of Client Lifecycle [PDF/ Word]

  • Know Your Customer/Customer Due Diligence Manager [PDF/ Word]

  • Know Your Customer/Customer Due Diligence Analyst [PDF/ Word]

Digital and Data Analytics

  • Head of Digital Transformation [PDF/ Word]

  • Digital Transformation Manager [PDF/ Word]

  • Digital Transformation Executive [PDF/ Word]

  • Head of Innovation and Process Excellence [PDF/ Word]

  • Innovation and Process Excellence Manager [PDF/ Word]

  • Business Process Improvement Executive [PDF/ Word]

  • Innovation Executive [PDF/ Word]

  • Head of Customer Experience/Head of User Experience [PDF/ Word]

  • Customer Experience Manager/User Experience Manager [PDF/ Word]

  • Customer Experience Executive/User Experience Executive [PDF/ Word]

  • Head of Data Analytics [PDF/ Word]

  • Data Scientist [PDF/ Word]

  • Data Analyst [PDF/ Word]

  • Data Engineer [PDF/ Word]

Risk, Compliance and Legal

  • Head of Risk Strategy [PDF/ Word]

  • Risk Strategy Manager [PDF/ Word]

  • Head of Operational Risk Management [PDF/ Word]

  • Operational Risk Manager [PDF/ Word]

  • Operational Risk Analyst [PDF/ Word]

  • Operational Risk Assistant [PDF/ Word]

  • Head of Credit Risk Management [PDF/ Word]

  • Credit Risk Manager [PDF/ Word]

  • Credit Risk Analyst [PDF/ Word]

  • Head of Market and Liquidity Risk Management [PDF/ Word]

  • Market and Liquidity Risk Manager [PDF/ Word]

  • Market and Liquidity Risk Analyst [PDF/ Word]

  • Head of Technology, Information and Cybersecurity Risk Management [PDF/ Word]

  • Technology, Information and Cybersecurity Risk Manager [PDF/ Word]

  • Technology, Information and Cybersecurity Risk Analyst [PDF/ Word]

  • Head of Risk Analytics/Head of Compliance Analytics [PDF/ Word]

  • Risk Analytics Manager/Compliance Analytics Manager [PDF/ Word]

  • Risk Analytics Analyst/Compliance Analytics Analyst [PDF/ Word]

  • Head of Compliance [PDF/ Word]

  • Compliance Advisory Manager [PDF/ Word]

  • Compliance Advisory Executive [PDF/ Word]

  • Compliance Analyst [PDF/ Word]

  • Monitoring, Surveillance and Testing Manager [PDF/ Word]

  • Monitoring, Surveillance and Testing Executive [PDF/ Word]

  • Head of Financial Crime Compliance [PDF/ Word]

  • Financial Crime Compliance Manager [PDF/ Word]

  • Financial Crime Compliance Executive [PDF/ Word]

  • Head of Legal [PDF/ Word]

  • Legal Counsel [PDF/ Word]

  • Paralegal/Legal Executive [PDF/ Word]

(c) View the Training Programmes for Critical Core Skills (previously known as Generic Skills and Competencies or GSCs)

These are programmes through which individuals can acquire the Critical Core Skills (CCS), which are transferable and can be applied across sectors. The CCS facilitate employability by supporting individuals in acquiring relevant Technical Skills and Competencies (TSCs) for various job roles in different sectors. Please visit this link to access the list of CCS training programmes offered by the Institutes of Higher Learning.

 

For more information on Training Programmes, please visit the respective training providers’ websites or http://www.skillsfuture.gov.sg/credit.

Skills Framework Template

  

This section helps users to populate Skills Framework content into editable Microsoft Word templates.

Step 1: Select template(s)



Step 2: Select Occupation(s)/Job Role(s)

Step 3: Click HERE to Download

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    SKILLS FRAMEWORK WORKSHOP


    We encourage enterprises that are keen to learn how Skills Framework can enhance their Human Resource practices to sign up for the Skills Framework Workshop.

     

    HOW you will benefit

    • Understand the intent and purpose of the Skills Framework
    • Comprehend the components of the Skills Framework
    • Enhance HR practices in the areas of talent attraction, performance and career management, learning and development through the Skills Framework
    • Adopt the Skills Framework to improve people strategy and business outcomes

     

    WHO should attend

    • HR practitioners who: 
      • Develop strategic HR policies and processes
      • Develop in-house workplace learning tools and platforms
      • Review strategic alignment between corporate vision and human capabilities
    • Line managers and leaders who develop and deploy performance support tools

     

    Click HERE to register your interest for the workshop.