DISPLAYS JOINING Government
The managing director of MAS with the longest tenure is Mr. Menon, 59. Before being named managing director in 2011, he began his career at the central banks in 1987, working in a variety of capacities, including economic policy, statistical prediction, finance rules, and others.
He held the positions of Permanent Secretary at the Ministry of Trade and Industry and Deputy Secretary, respectively, before the MAS.
Mr. Menon referred to his time working for the central bank as” an exhilarating drive” with never a boring moment. One benefit of the work on upskilling the nearby financial sector labor is that it has been” greatly satisfying.”
According to him,” a lot of work” went into determining which work might be in danger and what can be done to prepare staff for new positions. & nbsp,
” Despite the rapid digitization of financial services, which we all believed would result in significant job losses, there has been online job creation above our targets- which is significantly satisfying.”
The goal of the financial services industry conversion map, which was first unveiled in 2017, was to generate 3, 000 online jobs annually. However, from 2016 to 2020, that goal was exceeded by 4, 100 jobs.
The central bank’s initiatives and determination to get an” early start” with finance were also noted by Mr. Menon. & nbsp,
These initiatives have given Singapore” a leading place” among monetary centers, he continued, from so-called sandboxes that let businesses test their technology in a lightly regulated setting before people release to an emphasis on promoting innovation within the industry.
The 52-year-old Permanent Secretary of the Manpower Ministry, Chia Der Jiun, may succeed the departing MAS leader on November 1 and take over as managing producer on January 1 of this year.
Regarding his retirement plans, Mr. Menon stated to CNA that he” looks forward to being gainfully poor ,” but maybe not for too long.
He has” never landed on something specific ,” but he still wants to make a difference in three places that are very important to him: technology and innovation, social addition and unity, as well as ecology and climate change.
He responded that government is not where he sees himself contributing when asked if being in elections would enable him to advance these passions more efficiently.
” Aside from being in government, there are many other ways you can contribute to human happiness.”
He said it is” no very content” whether he has been approached by any political events.
Elizabeth Neo provided extra coverage