To build capabilities to capitalize on the industry’s ongoing path towards digitalization, the bank will invest S$5 million ($3.59 million) for talent development and reskilling its Singapore workforce.
Standard Chartered will roll out a number of initiatives to help employees and jobseekers, including providing close to 350 traineeship and career opportunities in 2020, and intensifying its employee upskilling program SkillsFuture@SC, it said in a press release on Tuesday.
Singapore, home to the majority of the bank’s global business leadership, as well as technology, operations, and innovation hubs, is one Standard Chartered's most successful franchises and is a key beneficiary of the Group’s $1.6 billion three-year investment, with a focus on digital, the announcement noted.
Profesional Upgrading
According to Standard Chartered, since the launch of SkillsFuture@SC, 20 percent of employees who participated have been successfully redeployed to roles such as digital banking, risk, compliance and relationship management.
The bank has already reskilled more than 80 employees into new or enhanced job roles within the organization under the Professional Conversion Programme, and expects to reskill more than 200 employees into new or enhanced job roles.
At the same time, the bank will welcome older members of the workforce who are willing to adapt to a new environment and learn new disciplines, the announcement said.
Digital Capabilities
«The success of the Bank heavily depends on the resilience of our people. This is why we need to stay on the front foot of the changing environment and the needs of our clients, to ensure our employees stay relevant, competitive and future ready,» Patrick Lee, CEO, Standard Chartered Bank (Singapore) Limited said in the statement.
To accelerate digitalization and business growth, Standard Chartered has bolstered its digital capabilities and increased its headcount from 8,000 to 10,000 since 2018, of which over 1,200 roles are in future growth areas such as digital banking, international banking, cyber, data solutions, analytics, cloud, AI architect, API, and DevOps.
