SG is opening the doors for thousands of CECA talent

[LITTLEREDDOT]

Human error over coding led to 6-hour disruption of DBS banking services in May: SM Tharman​

Ili Nadhirah Mansor/TODAY
A screenshot of the DBS Internet banking login page showing an error message on March 29, 2023.

• A disruption to DBS Bank’s digital banking and ATM services on May 5, 2023 was caused by human error in coding the program used for system maintenance, Parliament has heard
• This led to a significant reduction in system capacity, which affected the system’s ability to process internet and mobile banking, electronic payments, and ATM transactions
• Senior Minister Tharman Shanmugaratnam gave the update in response to questions from Jurong GRC MP Tan Wu Meng on Wednesday (July 5)
• The over six-hour disruption was DBS' second in two months, prompting the Monetary Authority of Singapore to call it "unacceptable" and impose fresh capital requirements on DBS

SUFIYAN SAMSURI​

Published July 5, 2023

SINGAPORE — A disruption to DBS Bank’s digital banking and ATM services on May 5, 2023 was due to human error in coding the program used for system maintenance, Parliament was told on Wednesday (July 5).
Senior Minister Tharman Shanmugaratnam provided an update on the issue in response to questions filed by Member of Parliament (MP) for Jurong Group Representation Constituency (GRC) Tan Wu Meng.
Dr Tan asked about the cause of the May disruption, and what is being done to strengthen the reliability and resilience of retails banks with significant market share here, especially in relation to digital banking services.
In his response, Mr Tharman, speaking on behalf of Prime Minister Lee Hsien Loong, said that DBS' preliminary investigation showed that human error caused a significant reduction in system capacity.
This affected the system’s ability to process internet and mobile banking, electronic payment and ATM transactions, said Mr Tharman, who is also Coordinating Minister for Social Policies and Monetary of Authority Singapore (MAS) chairman.

In a statement at the time, DBS had blamed the over six-hour disruption, the second to hit the bank in two months, on "a systems issue". It did not mention human error at that time.
Mr Tharman added that according to DBS, the cause of the incident was unrelated to the earlier March 2023 disruption, which was caused by inherent software bugs.
He said that DBS convened a special board committee to oversee the root cause investigation and a comprehensive review of the bank’s IT resilience following the March 2023 incident.
Following the May incident, MAS then tasked the committee to extend its review to cover the latest incident and to use “qualified independent third parties” for the review.
“The MAS has stated publicly that it regards this second disruption within a period of two months as unacceptable, and that DBS had fallen short of MAS’ expectation for banks to deliver reliable services to their customers,” Mr Tharman said.
He added that MAS' move to impose additional capital requirements on DBS reflects the seriousness with which MAS views the recent disruptions and the impact that they have had on customers.

“MAS may vary the size of the additional capital requirement imposed on the bank and take other regulatory actions depending on the outcome of ongoing reviews," he said.
“MAS requires all retail banks in Singapore to ensure that their mission critical systems supporting digital banking are resilient. This includes having the ability to recover quickly from any system disruptions,” he said.
Mr Tharman said that banks are subject to regular inspections and off-site reviews by MAS to ensure their adherence to regulatory requirements and expectations.
More details on the disruptions will be provided by the bank publicly when the review is completed, he added.
TODAY has sought comment from DBS.

 

[k1976]

Standard wayang procedure:
Changi Airport goes through the motion of advertising for local.
HR claims that many of the local applicants are not qualified, failed the interviews, or asked for too much.
Changi Airport then brings its case to the Ministry of Manpower who allows Changi Airport to recruit from abroad.

Changi Airport starts major recruitment drive to fill 6,600 job vacancies​

Clement Yong
UPDATED

MAY 19, 2022

SINGAPORE - Changi Airport is looking to hire more than 6,600 workers, as it embarks on one of its biggest recruitment drives to take full advantage of a fierce rebound in air travel.
Changi Airport Group (CAG) said in its publication Changi Journeys on Tuesday night (May 17) that people may be hired on the spot at the One Aviation Careers Fair to take place at the Suntec Singapore Convention and Exhibition Centre next Friday and Saturday.
More than 20 aviation companies will be conducting on-site interviews.
Hiring will be focused on filling frontline passenger service positions, as well as newly created roles in innovation and technology. Behind-the-scene workers such as ground handlers will also be in high demand, with both Sats and Dnata looking for more hands.
There are also job vacancies in the quality assurance team, which checks for food contaminant at the microbial level, and for airport emergency service and cyber security officers.
"At this growth rate, Changi is expected to recover more than half of its pre-Covid-19 passenger volume in 2022," CAG said.
"A positive vibe and energy are returning to Changi. More flights and passengers mean more airport staff are needed to support this growth.

The air transport sector lost about a quarter to a third of its airport workers during the pandemic.
With air travel quickly returning to pre-Covid-19 levels - by 2023, according to estimates by the International Air Transport Association - CAG is making sure to increase its capacity in tandem, so that manpower bottlenecks do not become a limiting factor in Changi's ambition to restore its air hub status.
Already, CAG has had to reschedule "a very small number of flights" to spread them apart during high peak periods.


Observers also said CAG is approving flights more cautiously, despite airlines now clambering to once more use the slots they had vacated in the last two years.
While filling the 6,600 job vacancies will not bring aviation employment levels back to 2019 levels, it is the industry's first such drive in two years.
CAG said its airport partners are offering competitive salaries, good incentives and better career prospects.
Singapore Airlines has said it will gradually restore its pilots' basic salaries to pre-Covid-19 levels by January next year.

Dr David Leong, managing director of PeopleWorldwide Consulting, a HR search and advisory firm, said Changi Airport’s recruitment drive is likely to be one of the largest hiring campaigns since the start of the Covid-19 pandemic, and should attract an equally large response.
“Changi needs to bolster its workforce early to cope with the expected surge in air traffic and arrivals to Singapore,” Dr Leong said.
Asked whether the airport will face competition from other manpower-starved sectors such as retail and food and beverage, he said Changi is likely to come out on top.
“Working at Changi carries a certain premium, and if the hiring campaign is run well, they are likely to attract those from F&B, retail and hospitality to jump over,” he added.
However, Dr Leong said it may be a while before the airport is back to being a well-oiled operation. “This needs training or retraining and the setting of new service standards to ensure service excellence. Such processes take time.”

No come in, then I wallory

 

[steffychun]

CECA loves rape.

 

[Majulah]

the secret plan is to rule over a world of black and mixed race. sinkapoor is following the order to make this happen

 

[oliverlee]

Ultimately fuck the 61% because they allowed their masters to pry open their chee bais. Porlumpars like john tan

 

[batman1]

What u expect ? The next president-to-be is ah neh Botak.

 

[parrardee]

Ultimately fuck the 61% because they allowed their masters to pry open their chee bais. Porlumpars like john tan

Hey idiot, your name says all about you.

 

[tanwahtiu]

Standard wayang procedure:
Changi Airport goes through the motion of advertising for local.
HR claims that many of the local applicants are not qualified, failed the interviews, or asked for too much.
Changi Airport then brings its case to the Ministry of Manpower who allows Changi Airport to recruit from abroad.

Changi Airport starts major recruitment drive to fill 6,600 job vacancies​

Clement Yong
UPDATED

MAY 19, 2022

SINGAPORE - Changi Airport is looking to hire more than 6,600 workers, as it embarks on one of its biggest recruitment drives to take full advantage of a fierce rebound in air travel.
Changi Airport Group (CAG) said in its publication Changi Journeys on Tuesday night (May 17) that people may be hired on the spot at the One Aviation Careers Fair to take place at the Suntec Singapore Convention and Exhibition Centre next Friday and Saturday.
More than 20 aviation companies will be conducting on-site interviews.
Hiring will be focused on filling frontline passenger service positions, as well as newly created roles in innovation and technology. Behind-the-scene workers such as ground handlers will also be in high demand, with both Sats and Dnata looking for more hands.
There are also job vacancies in the quality assurance team, which checks for food contaminant at the microbial level, and for airport emergency service and cyber security officers.
"At this growth rate, Changi is expected to recover more than half of its pre-Covid-19 passenger volume in 2022," CAG said.
"A positive vibe and energy are returning to Changi. More flights and passengers mean more airport staff are needed to support this growth.

The air transport sector lost about a quarter to a third of its airport workers during the pandemic.
With air travel quickly returning to pre-Covid-19 levels - by 2023, according to estimates by the International Air Transport Association - CAG is making sure to increase its capacity in tandem, so that manpower bottlenecks do not become a limiting factor in Changi's ambition to restore its air hub status.
Already, CAG has had to reschedule "a very small number of flights" to spread them apart during high peak periods.


Observers also said CAG is approving flights more cautiously, despite airlines now clambering to once more use the slots they had vacated in the last two years.
While filling the 6,600 job vacancies will not bring aviation employment levels back to 2019 levels, it is the industry's first such drive in two years.
CAG said its airport partners are offering competitive salaries, good incentives and better career prospects.
Singapore Airlines has said it will gradually restore its pilots' basic salaries to pre-Covid-19 levels by January next year.

Dr David Leong, managing director of PeopleWorldwide Consulting, a HR search and advisory firm, said Changi Airport’s recruitment drive is likely to be one of the largest hiring campaigns since the start of the Covid-19 pandemic, and should attract an equally large response.
“Changi needs to bolster its workforce early to cope with the expected surge in air traffic and arrivals to Singapore,” Dr Leong said.
Asked whether the airport will face competition from other manpower-starved sectors such as retail and food and beverage, he said Changi is likely to come out on top.
“Working at Changi carries a certain premium, and if the hiring campaign is run well, they are likely to attract those from F&B, retail and hospitality to jump over,” he added.
However, Dr Leong said it may be a while before the airport is back to being a well-oiled operation. “This needs training or retraining and the setting of new service standards to ensure service excellence. Such processes take time.”

Wohhh... investment residential properties booming... 6,000 more tenants coming.

No NSF liability workers... wtf.... NSF must be abolish....

Oppo parties wake up .... go fuck the bastard AWOL lanjiao Loong... abolish NSF.... 50 years of this bullshit must be stop... lanjiao nation defence to who.... FTs steal jobs here...

Eh... @JohnTan .... your time to stand up to abolish NSF bull shit... jobs for no NSF liability FTs... go fuck yrslf...

 

[Loofydralb]

Sinkies are better off migrating to a real first world country.
Jus the other day I was speaking to a young adult barely into their 20s saying that they're moving to UK and never coming back.
Good choice young ones! You know the ship is sinking.

 

[batman1]

Hey idiot, your name says all about you.

Are u pretending to be idiot or are u really idiot ? hehehe

 

[Patriotmissile]

It is a myth that Indians are good at IT. I find that many market products with UI are stupid and clumsy presumably developed by them.

 

[oliverlee]

Hey idiot, your name says all about you.

You finally reared your chee Bai face. fuck you son of a stinky bitch. I wonder which human parody in white you are.

 

[steffychun]

Sinkies are better off migrating to a real first world country.
Jus the other day I was speaking to a young adult barely into their 20s saying that they're moving to UK and never coming back.
Good choice young ones! You know the ship is sinking.

Uk is full of Indians. PM is an Indian.

 

[Loofydralb]

Uk is full of Indians. PM is an Indian.

SG is full of CECAkroaches. And a PM who screws it's own electorate.
It's a no-brainer choice.

 

[Merl Haggard]

One happy Ceca family from the same village.... native S'poreans all can go and get fucked!

 

[eatshitndie]

prateek gupta has his hq office in sg for his 6.9 companies that ship nickel to trafigura. trafigura became suspicious of fraud by gupta’s companies in october last year that it began investigating nickel shipments in over 1000 containers. after inspecting the first 156 containers trafigura found none of them contain nickel but carbon steel. both have about the same mass. a lawsuit followed, and a $690m global freezing order on gupta’s assets was approved by the london high court. trafigura booked a $577m impairment charge in 1st half of 2023 and filed the lawsuit accusing gupta of “systemic fraud”. he has various assets all over the world including a $69m mansion on palm jumeirah in dubai. his global office is based in sg. will the london court order be honored by sg courts and his assets in sg be frozen too with compliance from sg law enforcement? this case has shown that high ses cecas are using sg as a safe haven to conduct their fraudulent business activities.

 

[winnipegjets]

Modi is very happy that the PAP Indian ministers were able to help him get the CECA. That Sinkapore will absorb unlimited number of unemployed middle class Ah Nehs will help to keep Modi popular with the Hindus.

 

[winnipegjets]

It is a myth that Indians are good at IT. I find that many market products with UI are stupid and clumsy presumably developed by them.

Ah Nehs are good in bull-shitting. Sinkee employers like their angmo counterparts are easily sold with the bs talk of Ah Nehs. The Ah Nehs shake their heads and reply 'can, sure can' to every questions thrown at them land them jobs easily.

 

[tanwahtiu]

Standard wayang procedure:
The financial institutions go through the motion of advertising for locals.
HR claims that many of the local applicants are not qualified, failed the interviews, or asked for too much.
The financial institutions then bring their case to the Monetary Authority of Singapore, especially on the acute shortage of IT staff.
The MAS escalate the matter to the Ministry of Manpower which then allows the financial institutions to recruit from abroad.

S'pore's financial sector on hiring spree, with a third of over 9,400 new jobs in tech: MAS chief​

Singapore needs to grow a strong local talent pool while attracting global talent. ST PHOTO: CHONG JUN LIANG

Claire Huang
Business Correspondent

MAY 19, 2022, 6:04 PM SGT

SINGAPORE - The Republic's central bank estimates that there will be more than 9,400 new jobs on offer in the financial sector this year, with about a third of them in technology.
Monetary Authority of Singapore (MAS) chief Ravi Menon on Thursday (May 19) said that of the more than 3,000 jobs in tech, 700 will be roles for software developers and engineers.
This hiring pool will support the design and development of digital financial services and trade finance, blockchain technology, and use of artificial intelligence to detect fraud and money laundering.
Mr Menon said in his opening address at the inaugural Singapore Financial Forum that the Asian Development Bank estimates that strong exports and domestic demand will drive developing Asia's growth at more than 5 per cent per annum in the coming years.
Singapore then needs to grow a strong local talent pool while attracting global talent.
With regard to building a strong Singaporean core, Mr Menon stressed that it is "not a 'Singaporeans-only' strategy".
Such a strategy would be fatal for Singapore as a global financial hub, as there are simply not enough locals to meet the fast-expanding specialist needs of financial institutions, he said.


Rather, the idea is to develop good skills and capabilities in Singapore's local workforce and ensure fair hiring opportunities.
MAS estimates there were more than 3,000 Singapore citizens in senior roles in the financial sector last year, up by more than 80 per cent from 2016.
"The financial sector is growing rapidly and creating more jobs than our small local workforce can meet. Our labour market is tightening with unfilled vacancies and rising wages.


"If we do not remain open to global talent, our financial sector will lose its competitiveness and growth will be sub-par," Mr Menon warned.
He stressed that Singapore continues to welcome foreigners despite changes in work pass policies.
The changes are not to cut the intake of Employment Pass holders but to enable entry of high-quality global talent in a more transparent and flexible way, he said.

From September next year, besides having to meet the Employment Pass qualifying salary, applicants will have to score at least 40 points under the Complementarity Assessment Framework (Compass), where an individual's qualifications will be assessed along with the firm's workforce diversity and support for local employment.
Mr Menon said an internal MAS study showed that there is generally "a high degree of complementarity between highly skilled Employment Pass holders and local professionals in the financial sector".
A key initiative is the technology in finance programme, under which 90 per cent of the 2019 cohort from non-tech sectors found good tech jobs in financial institutions.
A further 530 mid-career professionals from the 2020 and 2021 cohorts are still going through the programme, said Mr Menon, adding that the Institute of Banking and Finance (IBF) is launching another round this year with close to 700 training places.
To strengthen the local talent pool, MAS together with Workforce Singapore (WSG) and the IBF have been more systematically supporting mid-career transitions to the financial sector.
IBF and WSG will also launch a three-month programme for those interested in transitioning to the wealth management sector.
Seven major retail banks will take part in this inaugural programme, which aims to fill close to 200 roles in the sector.
One of those who made a switch early in her career is Ms Edris Boey, 36, head of ESG Research at Singapore-based family office Maitri Asset Management.
She had started in KPMG's financial audit division in 2008 and moved to the firm’s climate change and sustainability department in 2012 after finding her calling in this area.
"The biggest challenge would be keeping myself motivated and encouraging like-minded people that there is a need for this line of work, for people like us. Back then, the career opportunities were far and few between," she said.
Ms Boey then headed to Hong Leong Asia to manage sustainability strategy, reporting, and compliance, before joining Maitri Asset Management, where she develops the firm’s proprietary ESG integrated investment framework and practice.
"There are definitely sacrifices that will be needed and I think that sacrifice needs to be quite calculated," she said in her tips for those looking to switch careers too.
In his speech, Mr Menon also urged overseas Singaporeans to return and consider being part of the city's financial sector.
He noted that sustainable finance is the newest and possibly most promising area of growth in the finance world.
"In Singapore, we are developing strategies to build a comprehensive ecosystem for green and transition financing. We are aligning financing efforts with credible sectoral transition plans that provide clarity about transition pathways and carbon emission targets, and this in turn generates investor confidence and catalyses greater sustainable finance flows," said the MAS chief.
Singapore is now home to more than 50 global and regional innovation labs and over 1,400 fintech firms.
Last year, the city clocked a record high of US$3.9 billion (S$5.4 billion) in fintech investments, up from US$2.5 billion in 2020.
For instance, JP Morgan has partnered DBS Bank and Temasek to establish Partior, a multi-currency, cross-border settlement platform.
The two-day financial virtual forum aims to give finance professionals an idea of key opportunities in Singapore’s finance sector. It is organised by MAS, IBF and Singapore Global Network, a division of the Economic Development Board.
Attendees are Singaporeans based locally and overseas, international participants, and industry leaders in Singapore's financial sector.

Abolish NSF liability for local males... get more FT to make SAF great.... give SAF Scholarship award to FT....

Local males don't need defence jobs in fake SAF.... no forced slavery conscripted policy....

Fuck lanjiao Loong...

 

[winners]

Hey idiot, your name says all about you.

Hey moron, this type of post indicates the absolute limit of your intellect.

What a low class scum you are with this kind of post.

The anti- Singaporean jiuhu kia at it again, pretending to be anti PAP but in reality posting here to try to stir up shit for Singapore. Some idiots here can't see through you but most can.

I am sure it is normal for you and your family to do such things but certainly not mine. Being a Desi, I hope you and your father enjoy one another.

You may not know it but you are the daft one. Sam describes you well, the ''know it all'' spouting toxic bullshit all the time.

You must have shit in your eyes.

You sound like a complete idiot. Is it because you have been vaccinated more than 10 times?

You are the most unpatriotic idiot, if you are a Singaporean in the first place. It's one thing to kpkb about the ruling party but you bitch and try to ridicule everything Singaporean. You must be a foreigner with an agenda in this forum with the aim of stirring Singaporeans up to cause trouble...