IBF The Institute of Banking & Finance Singapore

Effective leadership in banking and finance extends beyond technical expertise to encompass a unique blend of strategic vision, adaptability, strong interpersonal skills and more.

Andrew Chia, the current Head of Wealth and Retail Banking for Singapore, ASEAN, and South Asia at Standard Chartered Bank, exemplifies this holistic leadership approach. He participated in the International Postings Programme (iPOST) in 2013 and the Asian Financial Leaders Scheme (AFLS) in 2020, which have equipped him with the skills to navigate diverse business and regulatory environments.

Experiences That Shape Leadership

Through iPOST and AFLS, Andrew had the opportunity to work overseas—an experience he describes as 'transformative and priceless' for fostering both personal and professional growth. The exposure enriched his skill set with a blend of technical expertise, cultural competency, and a global perspective.

“During my time abroad, I developed greater cultural sensitivity, adaptability, and problem-solving skills. I even brushed up on my traditional Mandarin when I was posted to Taiwan,” he shares. “This experience also reinforced my appreciation for continuous learning, adaptability, and collaborative teamwork in driving sustainable growth for our clients and teams.”

One of Andrew’s most memorable assignments was leading Standard Chartered’s Indonesia office as CEO during the COVID-19 pandemic. “Being away from home, with international borders shut, helming the bank’s operations in Indonesia in such an unprecedented and challenging environment was a period of immense growth,” he says.

It was also during that time that Andrew saw the importance of adaptability while navigating the dynamic Indonesian economic landscape and resilience in the face of diverse market conditions. “Understanding and respecting cultural sensitivities helped enhance my ability to forge strong relationships with local stakeholders, understand local business practices and effectively navigate cross-cultural communication challenges,” he says.

Connections that Lead to Future Possibilities

To Andrew, both iPOST and AFLS have addressed different needs at different points in his career. Particularly, the networking opportunities stood out for him.

“Being part of a bank with both corporate and retail banking coverage as well as a wide international network, I had the opportunity to take on roles across businesses and geographies,” he shares. “The financial sector is highly interconnected, so leaning on my network built through programmes such as AFLS and tapping into the knowledge and experience of my peers in Singapore and beyond was hugely helpful.”

Advice for Aspiring Leaders

Beyond having a solid understanding of financial markets, products, and services, Andrew advises aspiring leaders to cultivate persistence and perseverance.

Having an open mind is also important, as it allows individuals to be culturally attuned to different perspectives and sensitivities, especially when the opportunity for overseas placements arises. “Singapore offers a natural advantage as a global financial hub, so it is up to individuals to adopt the right mindset and adapt to challenges that emerge along the way,” he says.

Finally, Andrew emphasises the importance of building trust within teams and with clients. “Trust is the cornerstone of any banking relationship. It is essential to lead by example and demonstrate the values and behaviours you expect from others. Our actions should align with our principles because consistency builds credibility and trust,” he shares. “This becomes even more important as you progress into senior positions and take on greater responsibilities.”

The International Postings Programme (iPOST) and the Asian Financial Leaders Scheme (AFLS) are talent development initiatives supported by the Financial Sector Development Fund (FSDF) and administered by IBF. iPOST provides opportunities for Singapore Citizens to be groomed through overseas postings to build international capabilities, while the AFLP develops future leaders through leadership programmes to help them navigate the diverse business, regulatory, and legal environment in the region.

Find out more about iPOST here.
Find out more about AFLS here.

The wealth management industry is undergoing a significant transformation driven by rapid technological advancements, evolving client expectations, and changing regulatory landscapes.

With a banking career of more than 30 years, Joy Lim, Market Team Head, Singapore at UBS Global Wealth Management, understands these changes well. She continuously learns and adopts a growth mindset.

Joy, who has been with UBS for 20 years, currently manages a team of advisors overseeing the portfolios of UBS’ clients. Her team’s clients include high-net-worth individuals (HNWIs), corporates and family offices.

Learning New Skills to Pivot into Wealth

After graduating with a Mathematics degree at the National University of Singapore, Joy joined the banking and finance industry as a corporate trader in a local bank. “I started off as a corporate foreign exchange (forex) trader, but with a degree in Mathematics, I felt I needed something more to pursue banking and finance further. Thus, on my own initiative and monthly pay cheque, I took night classes and weekend tutorials to self-fund the IBF Diploma in Banking and Finance within the first year of entering banking,” says Joy.

Through the IBF Diploma in Banking and Finance, she gained a deeper understanding of the different aspects of the wealth management business, investment recommendations, family legacy and succession.

“I realised that there are many facets in banking,” she adds. “I see wealth management as critical in every household; managing expenses and preserving wealth with compounding returns require skills and knowledge.”

That sparked Joy’s interest in wealth management.

A Firm Believer of Continuous Upskilling

Although an industry veteran, Joy’s commitment to continuous learning and upskilling has remained unwavering.

“When I first started in banking, many clients were mainly interested in bond, stock, and foreign exchange. Now they might also consider endowment-style investing including private equity, private credit, infrastructure and even direct investments,” she says.

“Succession planning has evolved as well, from clients simply writing wills to distribute their wealth, to now establishing trusts or foundations and philanthropy. These days, I have more regular conversations with clients on intergenerational wealth transfers,” Joy shares.

Joy actively seeks opportunities to deepen her knowledge and skills. Joy also completed UBS’ Certified Wealth Management Advisor (CWMA) certification, which is also accredited by the IBF. The CWMA certification is an industry benchmark standard in the Swiss wealth management market and several Swiss banks have developed certification programmes for it. At UBS, every client advisor is required to attain this certification to uphold the high standards and quality of our advisors.

Role-based, the programme not only provided learners like Joy with valuable hands-on experience but also honed their ability to adopt a holistic mindset regarding their clients’ needs, investment preferences and suitability.

An Advocate for Growth Mindset

Although Joy was nominated by UBS to attend the course, she believes in remaining curious and adopting a growth mindset. “I believe in the importance of adopting a growth mindset throughout one’s career. Beyond attaining IBF Certification, I have conscientiously set aside time to attend numerous UBS University courses,” she adds.

“One of the courses I felt was most memorable focused on how to prioritise time; knowing your optimal efficiency time zone, saying no, etc. The course encourages self-awareness which is critical in balancing efficiency and quality of work.”

IBF Certification is an industry endorsed mark of quality for finance professionals who have successfully completed eligible IBF-STS accredited assessment programme(s) and have attained the required skills for the selected industry segment and function. Find out more about IBF Certification here.

As a financial institution that values diversity in its workforce JPMorganChase recognises the benefits of nurturing young talent and has various programmes aimed at providing them with opportunities to build their careers. One such programme is the JPMorganChase Apprenticeship programme, a one-year programme for polytechnic students.

The programme has attracted young talent from a range of academic backgrounds who have shown a genuine interest and curiosity to seek a career in the financial sector. JPMorganChase’s Chief Administrative Officer for Asia Pacific, Ong Wei Han, says that the programme has been instrumental in diversifying its talent pipeline.

Launched in 2015 with a cohort of 14 students, the programme has since benefitted over 150 students—with 37 apprentices recently hired by the firm. “Being involved in meaningful projects allows the students to experience first-hand working in financial services,” Wei Han adds. “In return, we benefit from the different perspectives that the students bring to the firm’s solutions, products and services.”

Apprentice Turned Business Management Associate

Indeed, the programme participants appreciate the opportunity to learn through work exposure and strive to perform well at their tasks. Many of them are still with JPMorganChase today. Hazel Lim, from the 2020 apprenticeship programme cohort, is one such success story.

Hazel shares that during her time as an apprentice, she was “exposed to different aspects of the business and situations of varying complexities.”

She says that these experiences deepened the understanding of her role in the broader business context and helped her with stakeholder management and challenging tasks.

Crediting the robust programme for sharpening her technical knowledge and soft skills in areas such as communication and strategic thinking, Hazel adds, “The support I received from my manager and the campus recruitment team provided valuable opportunities for self-reflection, kept me on track to achieving my goals, and enabled me to seek guidance and support where necessary.”

She was also grateful for the monthly Senior Speaker Series, which provided a platform for apprentices to connect and seek advice from senior leaders in the firm. “Some of these conversations have been instrumental in helping me forge a career path that allows me to leverage my strengths, stay true to my passions, and realise my aspirations,” she says.

Besides the apprenticeship programme, JPMorganChase has also been supporting the ITE WSDip programme since 2022. The programme gives students opportunities to develop and apply what they have acquired in school. After two and a half years in the programme, the students gain relevant work experience and skills on the job.

IBF partners financial institutions such as JPMorganChase through the Polytechnic Talent for Finance Scheme (PTFS), which supports internship, apprenticeship, and sponsorship programmes for further studies. IBF also oversees the Finance Associate Management Scheme (FAMS), which offers structured training for fresh graduates.

Find out more about PTFS here.
Find out more about FAMS here.

Global trends such as generative artificial intelligence (GenAI) and climate change are dominating conversations across every sector. The financial sector is similarly impacted, presenting fresh opportunities for experienced financial professionals like Kon Shi Wang.

Kon joined the financial sector as a financial consultant which involved assessing the financial needs and goals of clients requiring a deep understanding of financial products and markets. Thereafter, Kon joined Manulife (Singapore) Pte Ltd as part of the Client Services team in 2017, where he handled clients and financial consultant inquiries on insurance services and transactions.

Eager to Expand His Skill Set

A keen learner with a positive and proactive attitude towards continuous self-improvement, Kon took the plunge to participate in a Career Conversion Programme (CCP) that was extended by his manager.

He said, “I was delighted to be offered the CCP for financial sector. Having proven my capabilities in my role, the opportunity to enhance my skills was both exciting and affirming. The prospect of acquiring new knowledge in areas like digital transformation, design thinking and data analytics was particularly appealing, as it aligned with my career aspirations to gain new skills and build additional competencies.”

Applying his Newfound Knowledge to Work

Kon successfully completed the CCP in 2023. Equipped with new skills, he brought renewed passion to his client servicing role. “Prior to CCP, I fielded calls, replied to emails and managed team operations. After the CCP, I continued to handle many of the same tasks. But with deeper insights into data analytics and service design, my interactions with clients and my team members took on a new dimension. They were more informed, strategic, and solutions-oriented,” he said.

Kon’s efforts and contributions to the team did not go unnoticed. He was promoted to Assistant Team Leader after completing the CCP, where he mentored client service executives and took on greater responsibility in team operations management.

On to the Next Stage of Career Growth

“The CCP had been transformative for my career growth and development—from being in the same job role for four years to being promoted from Assistant Team Leader to Product Manager in the span of just two years. The CCP didn't just expand my skill set—it opened new career pathways for me,” he said.

Today, I am well equipped to develop effective, targeted sales decks, craft persuasive sales pitches, and conduct insightful competitive analysis—all essential skills to perform well in my current new role.”

To conclude, Kon said, “For those who are hesitating to embark on CCP or any other lifelong learning programmes, I would advise embracing these opportunities wholeheartedly. It's a chance to redefine your professional path and discover new potential.”

IBF administers the Career Conversion Programme (CCP) which helps mid-careerists to reskill an successfully switch to new roles within the financial services sector. Find out more about CCP here.

To build a sustainable talent pipeline for Singapore’s financial sector, OCBC provides polytechnic students with valuable industry experience and practical skills, giving them a strong foundation to kickstart their careers in financial services.

Siti Hatijah, is one individual who has benefited from OCBC’s ongoing commitment to nurturing young talent and fostering career growth. Siti started her career at OCBC as an intern and is now a full-time digital ambassador with OCBC’s Serangoon Nex branch.

Siti shares how her journey with OCBC began, “I was finishing up the last year of my diploma—and had decided that I wasn’t going to pursue further studies in university. Just as I was pondering about my future, I attended a sharing session hosted by OCBC representatives and former interns. The OCBC internship caught my interest because it offered a hands-on experience. The career progression and mentorship opportunities presented also left a lasting impression on me.”

A Valuable Internship Experience

Siti began her internship in September 2023, which lasted for six months. During this time, she served as a digital ambassador where she gained meaningful experience and contributed to excellent customer services. Siti says, “During my internship, I acquired insights and practical experience in the banking industry. It also helped me to develop critical soft and hard skills and allowed me to gain confidence in my abilities.”

Attributing her positive learning experience to the training and guidance from OCBC customer service manager Shawn Yang, Siti describes him as one of the best mentors she has ever had. “Being a polytechnic graduate himself, he shared about his experiences and progression in the bank, offering advice and guidance whenever possible,” says Siti.

A Role Model for Polytechnic Interns

OCBC sees polytechnic graduates as promising talents who are strong problem solvers, thrive in interdisciplinary environments, and bring industry-relevant skills to the bank. An incident during Siti’s internship affirmed this perception.

Siti takes pride in this experience, adding, “Even though I was just an intern, I am glad to have contributed to something larger than myself by helping a customer avoid losing funds to a money transfer scam.”

An Ambassador for OCBC

This incident and her valuable six-month internship have provided Siti a strong foundation for her current role as a full-time digital ambassador where she assists customers with tasks such as internet banking, ATM usage, and other non-cash transactions.

Siti is confident that she will continue to grow in her role, learning and adapting from daily situations and interactions with customers, which hone her skills and expand her knowledge.

IBF administers the Polytechnic Talent for Finance Scheme (PTFS), which supports internship, apprenticeship, and sponsorship programmes for further studies. It also oversees the Finance Associate Management Scheme (FAMS), which offers structured training for fresh graduates.

Find out more about PTFS here.
Find out more about FAMS here.