Test - GenAI JTM

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Test - GenAI JTM

As financial institutions embrace AI and GenAI, upskilling employees must be a priority. Empowering employees to grow alongside technology adoption is key to unlocking the full potential of AI and GenAI for businesses and workers. Finance professionals can also stand to benefit. By proactively upskilling, they can do better at their jobs and potentially access enhanced career pathways.

To support the financial sector workforce through this transition, IBF has partnered 10 pilot financial institutions – DBS, OCBC, UOB, SCB, Citibank, HSBC, Income Insurance, Manulife, Prudential and Franklin Templeton to testbed and collate best practices to prepare our workforce for an AI-enabled financial sector. This is to inspire other financial institutions and the broader industry to uplift, upskill and upbuild their local workforce.

Uplift AI/GenAI literacy across the FS workforce AI/GenAI has wide applicability. Every employee should be uplifted with foundational AI/GenAI skills, to understand what benefits the technology can bring them and how to use it responsibly and safely.	Upskill Workers alongside role-specific AI adoption As AI/GenAI tools and solutions are implemented for specific job roles and business functions, users in these job roles will need to be upskilled with role- and tool-specific training.		Upbuild Talent to be ready for an AI-enabled financial sector New AI/GenAI talent, in the form of mid-career individuals and young talent, continue to inject new capabilities to the organisation amidst GenAI adoption. Organisations will need to upbuild talent to be ready for an AI-enabled world.
Uplift AI/GenAI literacy across the financial sector workforce on three common foundational skills: GenAI principles & applications Ethical & responsible GenAI adoption Prompt design	Jobs are augmented or redesigned:		To prepare talent, especially fresh graduates: • Exposure to AI/GenAI and financial sector use cases through learning journeys, internships, apprenticeships and capstone projects / case competition with financial institutions
	Augmented Jobs (in addition to AI/GenAI proficiency): for use cases applied in job roles, to enable workforce to “do more” higher-value tasks in current job families.	Redesigned Jobs: Work with financial institutions to redesign jobs to add new tasks outside current job family, reskill workers to take on the redesigned job roles.
Schemes and Support
For Uplifting GenAI Literacy: Training Support: • IBF Standards Training Scheme (IBF-STS) • Financial Training Scheme (FTS) Courses: • IBF Programme Finder	For Upskilling / Reskilling: Career Conversion Programmes (CCP) Training Support: • IBF Standards Training Scheme (IBF-STS) • Financial Training Scheme (FTS) Courses: • IBF Programme Finder		For Upbuilding Talent Pool: Learn about: Finance Associate Management Scheme (FAMS)

In the Spotlight

DBS_Bank_Logo

DBS is redefining banking with artificial intelligence, with over 1,500 models applied across 370 use cases, delivering over SGD 750 million in value in 2024.

As generative AI reshapes work, the bank is upskilling 12,000 employees and empowering all 40,000 staff with tools like iGrow and iCoach for personalised learning and career growth. Career shifts are also enabled — such as Rosepriya Chidambaram’s journey from call centre staff to SME Relationship Manager, supported by training, mentorship, and GenAI tools. DBS’s focus: building a resilient, AI-ready workforce of the future.

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OCBC is preparing its workforce to harness GenAI responsibly and effectively, embedding AI literacy across thousands of employees through targeted upskilling programmes. Beyond technical know-how, training includes ethics and risk awareness to ensure safe, practical adoption.

A standout example comes from Bank of Singapore, where Relationship Managers now use a GenAI tool to draft Source of Wealth reports in just one hour - down from 10 days - freeing them to focus on clients. By blending innovation with human judgment, OCBC is shaping a future-ready, AI-empowered workforce.

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UOB is nurturing the next generation of AI talent through its AI and Data Analytics Centre of Excellence, launched with IMDA, NUS and IBF.

Over three years, 100 participants will be trained and deployed into roles such as AI engineers and data scientists. One of them, Ashton Low, now applies GenAI to streamline ESG data extraction, supporting green initiatives. Alongside its “Better U Pivot” reskilling programme, UOB is building a sustainable talent pipeline and strengthening Singapore’s AI expertise.

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Introducing PathFin.ai

PathFinai

MAS Pathfinder Programme for financial sector AI adoption, or PathFin.ai, is a collaborative initiative between the MAS and the financial industry that fosters knowledge exchange in Artificial Intelligence (AI) implementations. Participating financial institutions share their experience implementing AI solutions while also gaining insights from the collective experiences of their peers.

PathFin.ai curates a library of proven AI solutions and implementation best practices among FIs. By centralising these resources and insights, the programme seeks to reduce the time and effort financial institutions need to search, select and effectively implement AI solutions.

Find out more

Resources

GenAI Jobs Transformation Map (JTM): A look at how GenAI could reshape jobs and skills in Singapore’s financial sector over the next five years.

In 2024, MAS and IBF, in partnership with WSG, conducted a study to examine the likely use cases and potential adoption trends of GenAI over the next five years, the impact these trends may have on jobs and the emerging skills the workforce would require to be well-prepared to embrace these transformations.

This study provides one possible view of adoption trends and impact based on McKinsey’s methodology and discussions with some financial institutions in Singapore. Adoption and impact in practice will depend heavily on the pace and scale of adoption of use cases by various financial institutions, as well as how technology develops.

Click here to view key takeaways from the GenAI JTM or here to view more details and download the full report.