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.
The Treasury’s Request for Information, and comments on various SEC and CFTC proposals, have provided thoughtful perspectives on the evolution of Treasury market structure. We have also benefited from consultation with groups such as the Treasury Markets Practices Group (TMPG), which is made up of market professionals committed to supporting the integrity and efficiency of the Treasury market. Continued engagement between the official sector and the public on the Treasury market remains necessary to help to manage its evolution, and to best maintain its efficient function and integrity. Those of you who transact in this market have a crucial perspective on how the Treasury market works and what information is useful for evaluating its function. Engagement between the official and private sectors can also facilitate the development of timely solutions to important issues in the industry. Such efforts include the best practices the TMPG has produced for the Treasury, agency debt and agency MBS markets, 4 and the Group of 30’s recommendations on banking culture and conduct5―an issue I believe the financial industry must continue to work on.6 In fact, it is this type of collaboration―between a wide array of market participants and official agencies―that helps different perspectives come together to create effective practices.7 In addition to engagement with the public, the Joint Member Agencies have continued their interagency collaboration. We have been working together to share information and help shape the most effective path forward for public policy.