OCBC Bank, Tech Talent Assembly and Banking and Financial Services Union sign MOU to equip tech workers with focused skills training

(From left to right): Mr Ng Tiong Gee, President, TTAB; Ms Annie Lee, President, BFSU; Mr Praveen Raina, Head of Group Operations and Technology, OCBC Bank; Mr Patrick Tay, Assistant Secretary-General, NTUC

1. OCBC Bank, Tech Talent Assembly (TTAB), and the Banking and Financial Services Union (BFSU) have inked a partnership to introduce a new training programme aimed at providing info-communications and technology (ICT) professionals with better employment outcomes in the banking industry.

2. The partnership is in line with the government’s goal to strengthen the training and placement ecosystem with the newly-announced Jobs-Skills Integrator initiative at the Budget 2023.

3. The training curriculum in this programme focuses on different technology modules covering DevOps, full stack development, data engineering and blockchain, amongst others, that are curated for the purpose of landing a technology job in the banking industry. It will also provide participants a better understanding of the banking industry and the application of the technologies.

4. The Memorandum of Understanding (MOU) was signed by Mr Praveen Raina, Head of Group Operations and Technology, OCBC Bank; Mr Ng Tiong Gee, President of TTAB; and Ms Annie Lee, President of BFSU, at the OCBC Campus during the inaugural OCBC RED Conference today. The event is a learning festival for staff and industry partners of OCBC Bank to share about the latest research, engineering and technology development trends and practices across sectors, such as Big Data, Cloud and AI. Guest-of-Honour, Mr Patrick Tay, Assistant Secretary-General, NTUC, witnessed the MOU signing ceremony.

Industry Training Programme Would Cultivate a Future-ready Tech Workforce

5. In the 2023 report titled: Trends, Jobs and Skills for ICT Professionals published by NTUC Strategy, TTAB and NTUC LearningHub (NTUC LHUB), it outlined two out of 10 recommendations – i) the importance of recognising skills acquired through non-formal and informal learning, including micro-credentials; and ii) adopting a skills-based approach to hire and develop talent. The research was also supported by IT Management Association (ITMA) and Singapore Computer Society (SCS).

6. The establishment of this training programme, targeted at job seekers and NTUC union members with general technology training background, is also in support of these two recommendations.

7. For a start, about 50 to 100 workers are expected to complete this programme. Those who complete the training could land themselves a job at OCBC Bank.

8. The parties will further explore the development of certifications on competency assessments as part of the training outcomes, especially with the rise of online self-directed learning where certifications may not necessarily be available.

9. While the technology workforce in OCBC Bank doubled over five years from 2018 to 2023 and continues to grow, the global demand for technology workers across all industries remains strong. This programme will also enable OCBC Bank to invest in a pipeline of tech talent while supporting the training and development needs of tech workers.

Upskill and Reskill to Secure and Safeguard Jobs for Tech Workers

10. GOH ASG Mr Patrick Tay shared, “The Labour Movement remains steadfast in our commitment to protect and enhance jobs and the livelihoods of our workers. This partnership marks a step further to improve the work prospects, wages and welfare of ICT workers and even mid-career switchers by ensuring they have the necessary skillset and knowledge to future-proof their careers and achieve a progressive career growth.”

11. Mr Praveen Raina, Head of Group Operations and Technology at OCBC Bank, said: “Jobs today may not have existed ten years ago. At the speed at which technology disrupts, and given that technology skills are always evolving, close collaboration between the industry and the training providers helps enhance the matching of skills and job requirements, leading to better outcomes for both the employers and the employees. This is also in line with OCBC Bank’s efforts to invest in accelerating digitalisation and transformation for operational and business excellence.”

12. Mr Ng Tiong Gee, President of TTAB said, “Singapore needs many tech talents if we are to compete in the digital world. By establishing the relevant competencies and certifications, we aim to help technology workers and mid-careerists navigate and be the compass for them.”

13. Ms Annie Lee, President of BFSU shared, “OCBC Bank has been our partner for many years and BFSU is excited to further work with the bank on this partnership. We believe that this new project will positively impact our workers and open new job opportunities for them to move into.”