Standard Chartered Singapore will invest $5 million in creating traineeships and skills upgrading opportunities over the next three years.

StanChart said yesterday that it will provide close to 350 traineeship places this year and intensify its SkillsFuture@SC programme, with the aim of upskilling its 10,000 Singapore-based employees over the next three years.

The training will be customised based on employees’ interests and career stage, and be aligned with industry needs, said the bank, adding that there are various industry reskilling and redeployment schemes available.

Since the SkillsFuture@SC programme started in 2016, 20 per cent of StanChart employees who participated in it have been redeployed to roles in areas such as digital banking, risk, compliance and relationship management.

The bank will also reskill more than 200 employees for new or enhanced job roles through its professional conversion programme.

It will continue to take part in initiatives such as the SGUnited Traineeships Programme, SkillsFuture Work-Study Programme and the Finance Associate Management Scheme, which allow young bankers to expand their technical skills as well as have the chance to go for international assignments through the bank’s network of 59 countries.

StanChart Singapore chief executive Patrick Lee said the bank has a long commitment to Singapore, having invested substantially and incorporated all of its businesses here.

Most of its global business leadership, as well as technology, operations and innovation hubs, is in Singapore, where the headcount has risen from 8,000 in 2018 to 10,000.

More than 1,200 of the roles here are in growth areas such as digital banking, international banking, data solutions and cloud.

“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,” said Mr Lee.

“New joiners and our existing employees stand to benefit from the strength of Standard Chartered’s diversity and network to access equal opportunities, gain international exposure and build longstanding connections.”

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