Job Description

The Monetary Authority of Singapore (MAS) is Singapore\xe2\x80\x99s central bank and integrated financial regulator. As central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore\xe2\x80\x99s exchange rate, official foreign reserves, and liquidity in the banking sector. As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore \xe2\x80\x93 banks, insurers, capital market intermediaries, financial advisors, and stock exchanges. It is also responsible for well-functioning financial markets, sound conduct, and investor education. MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry. Join us now, if you have a genuine interest in making an impact to help shape Singapore\xe2\x80\x99s economic and financial landscape.

[What you will be working on]

The Prudential Policy Department (PPD) fosters a sound and dynamic financial sector through prudential policy formulation.

Within PPD, the Prudential Advisory Division (PAD) formulates deposit insurance policies that enable the orderly resolution of failing banks, with the aim to maintain financial stability and protect small depositors. Your work will ensure that the DI framework balances between the different policy constraints and is implemented with processes that operate smoothly.

We also work with other colleagues in PPD to design and implement policies relating to the eligibility of capital instruments (such as Additional Tier 1 instruments), and disclosure requirements for banks. This work draws on the international Basel III regulatory framework, and includes research and analysis, drafting legislative changes, as well as addressing requests/questions from banks on the regulatory framework.

In addition, we support senior management\'s participation in international fora, mainly the Basel Committee on Banking Supervision and the Financial Stability Board. Your work will support international policymaking on banking prudential issues and broader financial stability risks at these fora, while advocating for Singapore\xe2\x80\x99s interests. In the process, you will have the opportunity to develop an understanding of these risks and how they are mitigated through regulation. You will also interact with colleagues across MAS\xe2\x80\x99 Financial Supervision Group and develop strong writing, comprehension and interpersonal coordination skills.

Successful candidates will be assigned a portfolio comprising a subset of these responsibilities.

[What are we looking for]

Successful candidates will:

Be able to assess a complex issue critically, breaking it down into tractable components. They will be able to dive into details, identify the relevant information needed for decisions, assess the pros and cons of various options, and recommend a course of action.

Have strong writing and verbal communication skills to explain their thought process clearly in a concise and structured manner.

Be comfortable working as part of a team, taking the initiative to seek inputs from others and highlighting interactions between these inputs, while being able to manage differences in opinion.

Be comfortable learning independently, understanding gaps in your own knowledge and skills and taking advantage of opportunities and resources to develop yourself professionally.

The following would be an advantage:

Have a keen interest in Basel III and/or banking crisis management

Be sceptical (in order to imagine the worst banking crisis scenarios), so that we can craft robust deposit insurance policies

Have a heart to protect small depositors

Enjoy coordinating work, talking to people and learning about the latest banking regulatory/supervisory developments

As part of the shortlisting process for this role, you may be required to complete a medical declaration and/or undergo further assessment.

Singapore Economic Development Board