In a novel move last year, the Monetary Authority of Singapore (MAS) awarded digital full bank licenses to the Grab-Singtel consortium and tech giant Sea. It’s the first bid to liberalize the financial industry. Digital full banks operate entirely online without any physical infrastructure, not even a bank branch. They are expected to start operations in early 2022. And that explains the aggressive hiring spree of the consortium. Job openings in such setups imply completely remote roles.
Grab Singtel and Sea Digital sped up their hiring process in various departments, with 90 job openings in Singapore. Grab Singtel has planned to extract the data and technology potential and redefine financial services by setting up a powered and passionate team. It aims to hire for 200 roles by the end of this year. The digital banks have envisioned increasing accessibility to transparent and convenient financial services to assist young PMETs, micro SMEs, and gig workers daily. Sea Digital wants to fulfill the economic and financial needs of young consumers and SMEs and ramp up the digital economy.
Grab-Singtel released a statement in which they asserted that the consortium will lead to the creation of more technology and fintech-related roles and opportunities for Singaporeans.
Current roles up for grabs:
- At least 20 engineer roles for lead data and lead software engineers, senior network and security engineers
- Backend software developers specializing in android, ios, and mobile apps
- Roles for database engineering, test automation, site reliability engineering
- Roles Data analytics, data science managers, and also data scientists
- Risk analytics
- Research roles like balance sheet analytics and forecasting specialist and a capital and liquidity reporting specialist.
- Backend roles such as managers for settlement operations, cards, and unsecured lending operations, and customer support
- People roles like HR manager, services and payroll and other human resources services
- Legal counsel to cover corporate and governance-related matters.
The consortium will commence the training process of such people and teach them about the requisite skill sets in cyber and information security, data science and analytics, and tech engineering. The idea is to ensure wider access to financial services and it is a corollary of the Grab Financial Group and the mobile financial business of Singtel. The consortium said that Sea Digital has been completely integrated into Singapore’s digital economy through its three platforms Shopee, Garena, and SeaMoney. Both the digibanks are poised to offer financial services across payments, insurance, lending, and investing.