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Banking Jobs in Singapore

Submitted by jobzing on 20 October 2011

With the turn of the 21st century, Singapore with its improved living standards, an evolved quality of life and ambiance, ranks most often amongst the top and attractive foreign skilled professional centers in Asia. The Government also has taken a strong goal to establish it as a global financial hub, and is further taking keen initiatives in this regard. In the years that has passed by, the government has endowed the city with significant assistance and an extensive range of incentives, scopes and opportunities for the various banking and financial institutions to set up, grow and develop their business. The endeavor of consistently adding value and scopes to the banking sector has resulted in a wide range of banking jobs in Singapore that are available today to one and all.

As a flourishing banking center, of international acclaim Singapore today is not only catering to the domestic economy but also to the entire Asia Pacific Region. The banking industry is a catalyst in contributing to the city’s financial wealth. Factors like an effective political and economic set up, tax and legal policies that are conducive, an integrated reputation, and firm actions against money defaulting and crime, have affirmed Singapore’s position as an International Banking and Finance Centre, ranking the third largest in Asia, after Hong Kong and Japan.

At present there are 6 local and 108 foreign banks that reigns the banking domain.

MAS, in 1999 commenced a five-year liberalization plan to reinforce the banking system and to better Singapore’s status as an international banking center. The city has also capitalized, on the increasing number of high net worth entities in Asia and other places like Europe and Middle East, thereby coming up as a leading center for private banking, for international investors. A strong initiative in the local banking sector was consolidating 6 former local banking groups into 3 major local banks. This resulted in solidifying the bank’s services, thereby enhancing their team structure and modifying their abilities for risk management. In addition they have also expanded their range of banking solutions. Hence banking jobs in Singapore are most sought after today.

The banks in Singapore today are further divided into the local banks and foreign banks. The foreign banks are further divided into the following categories:-

Full Banks
Wholesale Banks
Offshore Banks
Merchant Banks

The major local banks in Singapore are Development Bank of Singapore, Overseas Chinese Banking Corporation and United Overseas Bank. The important foreign banks include HSBC, Standard Chartered, ABN-AMRO Singapore, Maybank, BNP Paribas, and Citibank.

Banks in Singapore today are expanding their operations and the solutions that they are providing to the consumers. They are adopting innovative operational modules that make their services detailed, effective and secure. For this they are absorbing a workforce that are skilled, competitive, well resourced and are willing to work as per international standards.

These jobs are competitive, result oriented and having a global presence. To keep up the motivation level of the working professionals, these jobs offer a lucrative pay package that includes perks, promotions and other allied benefits. Also, the beneficial aspect here from the candidate perspective is that the jobs can be applied by the local as well as international job applicants. With the influx of the new responsibilities that each bank is undertaking, there are several banking jobs in Singapore.

Banking jobs in Singapore or banking posts/profiles that are available for students and individuals to apply for are:-

Management Trainee/ Fresher.
Business Development Executive.
Finance Assistant/ Executive.
Accounts Assistants.
Business Delivery Manager.
Bank Tellers.
Marketing and Sales Executives.
Manager Finance.
HDB Loan Specialists.
Customer Service Assistant.
Telesales Consultant- Banking.
Credit Control Manager.
Client Service Manager.
Credit and Risk Analyst.
Home Advice Specialist, Consumer Banking.
Personal Bankers.
Relationship Managers.
Litigation Managers, Investment Banking.

For being able to apply to the banking profiles in the city, a Bachelor’s degree in the relevant field remains desirable, if not mandatory. Nevertheless, a comprehensive and precise knowledge in domains like Banking and Finance, Accountancy, Credit Value Management, Credit and Risk Management seems to be preferred by the entrepreneurs of the banking industry. One of the significant points to remember here is that the international candidates seeking job here must have a legal and authentic work permit.

There are numerous banks in Singapore offering relevant jobs to fresher students, experienced and specialized professionals, depending on the job criteria. Some of the leading banks offering banking jobs in Singapore presently are:

DBS Singapore.
RHB Bank.
United Overseas Bank Limited.
Bank of China Limited.
HSBC Bank.

DBS Singapore

DBS Singapore was set up in 1968, and is counted as one of the biggest bank in Singapore and Southeast Asia. Also it is a leading consumer bank in Hong Kong catering to over 4 million customers, and 1 million retail customers. Owing to its performance, it ranked 14th in the “The Banker’s” top 200 Asian Banks in 2008. The bank provides a whole range of services and solutions in corporate, consumer, SME and wholesale banking activities across Asia that includes Asia and Middle East. It records as one of the highest credit ratings and is all prepared to cater to 16 different markets being a bank that specializes in Asia. The bank offers an internship program that lasts for tenure of 8 weeks. Some of the career opportunities or the verticals in which DBS recruits are:-

Professional Financial Manager.
Treasures Associates & Relationship Manager.
Internal Communications Manager.
Senior Internal Auditor.
Corporate Loans Officer.
Project Manager.
Consumer Banking Manager
Analyst.
Product Manager, Trade Finance and many more.

DBS Bank is located at Shenton Way, Singapore and has its branches almost all over the city. Some of the prominent branches are located in Woodlands, Clementi, Marina, Pasir Panjang, Serangoon, Sentosa, Singlap and other areas.

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