10 financial institutions are partnering IBF to offer around 300 internship and traineeship opportunities in the next 1-2 years

           At today’s Financial Industry Fiesta 2025, held at the Ngee Ann Polytechnic Convention Centre, the Institute of Banking and Finance (IBF) partnered 12 financial institutions (FIs)¹, five polytechnics, and three Autonomous Universities to showcase the multiple pathways available in the financial industry for polytechnic talent — including internships, traineeships, and work-and-study opportunities.

2        Mr Alvin Tan, Minister of State (National Development and Trade and Industry) and Board Member of the Monetary Authority of Singapore (MAS) graced the event as the Guest of Honour and shared his insights in a dialogue session.

3       The dialogue session between MOS Tan, polytechnic students and alumni exchanged personal reflections and shared the multiple pathways for polytechnic talent to access meaningful training opportunities in the financial sector. 

Internship and Traineeship Pathway

4        10 FIs² are collectively partnering IBF to offer around 300 internship and traineeship opportunities in the next 1-2 years to provide hands-on experience, enabling students to gain relevant financial industry knowledge and skills to enhance their job-readiness. Such programmes also allow for FIs to identify and nurture talent early.

 Work-and-Study Opportunities

5        IBF, UOB and the three Autonomous Universities - the National University of Singapore (NUS), the Nanyang Technological University, Singapore (NTU Singapore) and the Singapore University of Social Sciences (SUSS) signed an MOU at the event to create and enhance work-and-study initiatives. With UOB as a pioneer FI in this initiative, they will explore together with IBF the recognition of workplace training offered by FIs including those accredited by IBF, to help accelerate the learning pathways, and enable flexible work and study initiatives. This initiative aims to help FIs to better attract and retain young talent and support polytechnic graduates who wish to pursue further studies at the universities while continuing to deepen their work experience within the FIs. 

6        Students also engaged directly with the financial industry through an exciting line-up of activities, including: (i) a fireside chat featuring a panel of senior financial industry representatives, (ii) ‘Ask-Me-Anything' sessions where students could ask financial industry professionals questions about the industry, (iii) Financial Sector Marketplace where students could visit booths hosted by participating FIs, the Singapore College of Insurance, NTUC and IBF.

7       Additionally, the learning journeys for the students organised by eight FIs on 7^th July and 9^th July provided students the opportunity to visit the FIs for an exclusive office tour and an introduction to financial sector activities.

8       The Financial Industry Fiesta 2025 reflects the financial industry’s openness to nurture diverse talents and create multiple pathways for the next generation of professionals.

9       Ms Carolyn Neo, Chief Executive Officer, IBF, said, “IBF is delighted to convene key financial institutions, local Polytechnics and Universities to create multiple pathways for polytechnic talent to access meaningful training opportunities in the financial sector. This partnership is very timely – young talent could gain valuable exposures and develop in-demand skills in the financial sector through internships, traineeships and work-and-study initiatives in a period of heightened uncertainties in the global economy.” 

10     Mr Dean Tong, Head of Group Human Resources, UOB, said, “UOB has always been a strong believer in building a diverse and future-ready workforce. Through initiatives like our U Unleash Programme launched in 2023, we have consistently championed career and internship opportunities that give students hands-on experiences in the financial sector. This MOU marks another step forward in our commitment to build our own timber – by collaborating with universities to introduce work-and-study programmes, we aim to enable polytechnic graduates to gain work experience with UOB while pursuing their academic education. This not only gives them a valuable head start in their careers but also supports those who aspire to further their studies while staying anchored in the industry. Through efforts like this, we continue to invest in a new generation of financial professionals who are keen to grow with us in banking.”

Footnotes:

[1] Refer to Annex C

[2] Amundi, BNY Mellon, Howden, JPMorganChase, OCBC, Prudential Singapore, Standard Chartered Bank, UBS, UOB

About the Institute of Banking and Finance (IBF) 

The Institute of Banking and Finance Singapore (IBF) was established in 1974 as a not-for-profit industry association to foster and develop the professional competencies of the financial industry. IBF represents the interests of close to 250-member financial institutions including banks, insurance companies, securities brokerages and asset management firms. 

IBF is the national accreditation and certification agency for financial industry competency in Singapore under the Skills Framework for Financial Services, which were developed in partnership with the industry. Since 2018, IBF is the appointed programme manager for the administration of professional conversion programmes for the financial industry under Workforce Singapore. IBF also provides personalised career advisory to Singapore Citizens and Singapore Permanent Residents exploring a new role in, or career switch into the financial industry, under IBF Careers Connect. Since mid-October 2020, IBF has been appointed by the National Jobs Council as the Jobs Development Partner for the financial industry.