A Report by CYS Global Remit Human Resource Management Unit
According to Singapore Ministry of Manpower's Job Vacancies 2023 Report, the proportion of newly created roles reached 47.3% in 2023, significantly higher than the previous year's 38.7%. Particularly notable was the Information and technology sector, which accounted for the highest proportion of vacancies for new positions at 72.8%.
The surge in job creation in the IT sector can be attributed to the digitalization and evolving nature of our economy. And this trend aligns with recent hiring patterns observed at CYS Global Remit job landscape.
In response to the demands of this digital era, where speed, efficiency, and adaptability are paramount, CYS Global Remit likewise embraces technology to remain competitive and meet evolving market needs. This entails prioritizing connectivity and leveraging fast settlement, instant payment technology, and borderless connectivity. Collaboration with technologically advanced service providers is crucial for achieving these objectives.
To address these challenges, CYS recently segregated the role of a Chief Technology Officer (CTO) and specifically established the role of a Chief FinTech Officer (CFTO) to spearhead the development of our FinTech, RegTech and SupTech products. Additionally, the IT Development Unit was restructured into FinTech Development Unit to develop and implement financial technology strategies, regulatory compliance approaches, supervisory product development, and cybersecurity measures. These initiatives aim to propel CYS into the digital age and ensure CYS alignment with the digitalization of the Singapore economy.
As part of our broader FinTech objectives, CYS has introduced new job roles such as FinTech Developers, Payment Operations Analyst, Data Intelligence Analyst, FinTech Project Managers. And together with the CTO, the CFTO, the Chief Marketing Officer, the Chief Data Officer, and their respective team people, these individuals form the new CYS FinTech Cohort. This collaborative effort will drive CYS towards success in key areas such as FinTech Development, Transaction Monitoring, and Digital Media Marketing.
Stay tuned to CYS Insights for more updates on how our emerging job landscape support our FinTech strategic objectives and drive success in these critical areas.