For those aspiring to senior roles in technology, such postings may even be necessary, as the competition for such jobs is at a global level. Next, what can financial institutions do to help grow the pipeline of Singaporean technology professionals? One, they can collaborate with polytechnics and universities on apprenticeships to prepare students for technology jobs. JP Morgan is looking to hire more than 30 polytechnic graduates in their 1-year Apprenticeship programme for the Tech and Ops function this year. Apprentices will receive on-the-job training in product knowledge, personal development and professional skills, as well as exposure to top professionals across diﬀerent businesses within the bank. Two, financial institutions can hire individuals from a broader range of backgrounds and upskill them into technology roles. DBS Bank has a skills development programme to train individuals with STEM backgrounds or have taken some STEM modules in specialised technology skills. Individuals will be trained to take on roles in areas such as product development, platform infrastructure, or information security. Three, financial institutions can set up specialised facilities to build up technology capabilities in their workforce. Standard Chartered Bank launched its global learning hub diSCover Lab in Singapore, in December last year. The aXess Academy, one of nine academies within the Lab, aims to train over 2,100 of its Singapore-based technology talents in areas such as cloud transformation, open banking solutions, cybersecurity, and client digital journeys. Finally, how is the government helping to grow the tech talent pool?
Joseph Yam, JP: The Hong Kong Monetary Authority’s main initiatives in the area of banking supervision Speech by Mr Joseph Yam, JP, Chief Executive of the Hong Kong Monetary Authority (HKMA), at a lunch with representatives of the Finance Constituency organised by Dr David Li, held in Hong Kong on 15 January 2001. The speech outlines the latest state of play on the HKMA’s current initiatives in the area of banking supervision, as well as responding to some points raised by Dr Li on behalf of the Finance Constituency. *  *  *  1. I would like to thank David Li for arranging today’s lunch with representatives of the Finance Constituency. The number of live issues in the realm of bank supervision, some of which have been set down in David’s letter in advance of this lunch, is currently quite considerable, so it is useful to have this opportunity to get together to exchange views. As you will know, it is very much our style to work in close collaboration with the banking industry on developing our policies rather than to adopt a confrontational approach, and long may this continue. 2. Let me run through what I see as the HKMA’s main initiatives in the bank supervision area in the next twelve months, in the course of which I will try to pick up some of the points made in David’s letter.