With sustainability trends evolving rapidly and becoming mainstream, building a deep talent pool in sustainable finance over the next decade will enable Singapore’s Financial Services (FS) sector to capture new business opportunities and support the region’s transition to net zero.
As Singapore aims to be the APAC sustainable financing and human capital hub for sustainability, this study lays the foundation for understanding workforce requirements. The Jobs Transformation Map (JTM) is jointly commissioned by the Monetary Authority of Singapore (MAS) and the Institute of Banking and Finance (IBF), supported by Workforce Singapore (WSG), to provide actionable insights into the impact of sustainability trends on jobs in Singapore’s financial services sector, and emerging skills that the workforce will require to serve sustainable financing demand in the region. KPMG in Singapore was commissioned to conduct the JTM study.
The study identifies key global and regional sustainability trends that are anticipated to impact Singapore’s financial services sector, and assesses the impact of such trends on job roles in Singapore’s financial services sector. This includes how existing job tasks may change, and new job tasks that may be needed for existing job roles. This study also outlines the new skills needed for each job role that is augmented, which in turn informs the interventions needed.
Download the full report or infographic for key JTM findings.
Talent and skills form the foundation of any thriving sector, and as Singapore moves towards a low-carbon economy, the demand for sustainable finance is on the rise. It is crucial to understand the sustainable finance roles and skills required by the Financial Services (FS) sector to prepare its workforce adequately for this transition.
These findings underscore the need to take timely action to upskill the workforce. Financial institutions will require the support of stakeholders both within the financial services ecosystem, as well as those beyond the sector to work collaboratively in driving the transformation. Reach out to your Financial Services experts for more deep-dive insights and recommendations on how to prepare a skilled workforce capable of capturing new business opportunities and supporting the region's transition to net zero.
Patrick Atlee
Partner, Financial Services Advisory
KPMG in Singapore
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