Consistent macro-economic stability is perhaps the greatest contribution that the authorities everywhere can make to financial stability. Of course that is easier said than done. While it is true that sharp changes in economic conditions, and asset prices, may be home-grown - often as a result of allowing domestic demand to outstrip the supply-side capacity of the economy to meet that demand, it is also true as we saw very dramatically two or three years ago that instability can be internationally contagious - especially in today’s world of financial globalisation. A great deal of work has gone on internationally over the past few years to improve our understanding of how national authorities can better protect their economies against shocks of this kind. It has resulted in a plethora of internationally agreed standards and codes of best practice ranging from transparency in the conduct of monetary, financial and fiscal policies, through financial regulation and the collection and dissemination of statistics, to various aspects of the financial infrastructure, including the legal and accounting framework, corporate governance arrangements, payments systems and so on. The emphasis now is on implementation and the IMF has the task of encouraging and assisting all of its members to step up their efforts, as best they can given their particular  1  BIS Review 66/2000  circumstances, in all of these respects. This is in the member countries’ own individual interests, but it is equally in the interest of greater stability of the global economy.
She then pivoted to a role in sustainability, advising clients on developing their sustainability strategies and carbon credit verification projects, a role that drew on her audit skills and new knowledge acquired from completing a master’s degree in Environmental Management. Edris is now Head of ESG Research at Maitri Asset Management overseeing the firm’s ESG investment framework. MAS, Workforce Singapore (WSG) and the Institute of Banking & Finance (IBF) have been working together to support more systematically such mid-career transitions to the financial sector. One key initiative is the Technology in Finance Immersion Programme (TFIP), which has seen promising results. 90% of the 2019 cohort who were from non-tech jobs completed the programme and have taken on good tech jobs in financial institutions. Another 530 are going through the programme from the 2020 and 2021 runs. I am pleased to say that IBF is launching the fourth run of this programme this year, with close to 700 training places – which is double the number offered last year. IBF and WSG will also launch a new Wealth Management Accelerator Programme (WMAP, pronounced as “We-MAP”). WMAP targets mid-career professionals with a passion for customer relationship management and an interest in pursuing a career in wealth management. The three-month programme will include structured and on-the-job training to provide participants with the skills to be licensed and hired into relationship management roles. Seven major retail banks are participating in this inaugural programme, to fill close to 200 job roles.