For the prospective polytechnic graduate, this 12–18 month work-study programme will allow him or her to gain valuable employment experience at a financial institution and to receive training which counts towards a Specialist or Advanced diploma upon completion of the programme. These work-study programmes will be designed in collaboration with financial institutions, the polytechnics and the Singapore Workforce Development Agency (WDA). 41. I am pleased to see that the major banks in Singapore have committed to provide at least 200 places for polytechnic graduates in the coming year, through the Earn and Learn Programmes or their in-house structured programmes. (They include all three local banks – DBS, OCBC, UOB – as well as ANZ, Barclays, BNP Paribas, Citibank, JP Morgan, Maybank and Standard Chartered Bank.) These will be in the banks’ core functions of technology, consumer banking, operations and risk management. 42. Wherever you start, we will help you progress. To give an example, Oryan Ang, graduated from Nanyang Polytechnic and joined DBS in 2004 as a Home Advice Specialist. He was given opportunities to learn on the job, demonstrate his abilities and rise through the ranks, and is today a Vice-President in Consumer Banking (Deposits and Secured Lending) at the bank. Developing strong core of Singaporean Leaders in Finance 43. Let me turn finally to the second thrust of our initiatives to develop professional talent and skills, which concerns leadership development. This too is a key priority under SkillsFuture.
The development of a strong core of Singaporean leaders in finance, working in diverse global teams, will define our continued success as a financial centre. MAS takes this very seriously. BIS central bankers’ speeches  5  44. We have in recent years introduced several initiatives to promote the development of Singaporean leaders in the financial industry. •  The Finance Associate Management Scheme (FAMS) offers promising young professionals exposure to different aspects of a financial institution’s global operations and mentorship by senior leaders. •  The International Posting Programme (iPOST) has supported more than 35 overseas postings of Singaporeans in finance since its launch in 2013. They have acquired valuable practical experience in diverse working cultures over their 6 to 24-month attachments to regional and global offices of financial institutions. Asian Financial Leaders Programme (AFLP) 45. To further strengthen these efforts, I am pleased to announce the launch of the Asian Financial Leaders Programme (AFLP). •  The AFLP will take advantage of Singapore’s strong and expanding linkages in the region, including ASEAN, China and India, and aim to strengthen those links through leadership development. •  It is aimed at equipping finance professionals aspiring to C-suite roles with the knowledge and capabilities to operate effectively across diverse business, regulatory, and legal environments. •  Participants will be given the opportunity to learn from and interact with top policymakers from the region and to also build networks with fellow financial sector leaders.