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Singapore has enormous Job opportunities for banking sector

Singapore has enormous Job opportunities for banking sector

Feb 19,2016

SINGAPORE  — Among all the concerns all volatility and restructuring in the financial sector, the Association of Banks in Singapore (ABS) has initiated a jobs portal for its employment, which that allows its members to refer their staff for suitable positions in other banks.

On Wednesday (Feb 17), ABS director Ong-Ang Ai Boon, shared his words with the media by briefing that, the human resource departments work on this recruitment part, which offers one-stop portal in the banks.

The JobsBoard known as the ABS, the portal which is meant for HR practitioners in banks to identify suitable positions for staff who are being deranged due to some bank restructuring efforts. 

Mrs Ong-Ang said that, unlike the national Jobs Bank, which has a salary cap for jobs posted on its portal, this rule will won’t apply for the ABS portal,

The ABS portal, which went live from the three days, currently has 96 overseas job postings related to consumer banking from four banks.

In front of the media, the ABS declares about the initiative about foreign banks laying off staff. 

The latest update was about British banking giant Barclays, which announced recently that, globally it was cutting more than 1,000 jobs, including employees from its Singapore office. 

On Wednesday, NTUC assistant secretary-general Patrick Tay on the sidelines of an ABS Chinese New Year lunch declared that, due to increasing the demand internationally an e-banking, the local banks have said that they are still hiring and the trend is moving towards hiring the staff from various areas of compliance; information technology side too.

He also shared that, for Singapore-based foreign banks, due to impact on volatile currency fluctuations and oil prices, an overseas headquarters might make the decision to retrench the workers.

He also added that, comparatively in the Singapore, the manpower cost is higher than in the region

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