Assistant Director, Insurance Market Development

The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator.

As central bank, MAS promotes sustained, non-inflationary economic growth through the conduct of monetary policy and close macroeconomic surveillance and analysis. It manages Singapore’s exchange rate, official foreign reserves, and liquidity in the banking sector.

As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors, and stock exchanges. It is also responsible for well-functioning financial markets, sound conduct, and investor education.

MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.

Join us now, if you have a genuine interest in making an impact to help shape Singapore’s economic and financial landscape.

What you will be working on

You will be part of a dynamic team that leads the development of Singapore as a global capital for insurance and risk financing, building on Singapore’s current position as the leading reinsurance and specialty insurance centre in Asia. The team is responsible for formulating and implementing strategies to:

• Develop the market and grow the pipeline of insurance solutions for emerging risks such as climate (including financing of energy transition, decarbonisation technologies and natural capital), pandemic, longevity, and cyber risks to serve the growing Asia-Pacific markets;
• Promote the development of traditional and alternative risk transfer solutions, including insurance linked securities and multi-national government risk pools, and support the development of enabling regulatory frameworks and execution of key regional projects in these areas;
• Support talent development in the insurance industry;
• Deepen insurtech, risk analytics and innovation capabilities in Singapore to address large and complex risks facing Asia-Pacific.

You will actively monitor trends and developments in the insurance industry, to assess implications and refine our developmental strategies to strengthen the competitiveness of Singapore’s insurance ecosystem. You will be responsible for building strong stakeholder relationships with the industry, academia, and government stakeholders, to attract new business investments and build up insurance capabilities and market infrastructure. You will also be involved in evaluating major policy proposals (such as regulatory, developmental and tax policies), as well as processing grant, tax incentive and licence applications.

What we are looking for

• Good strategic thinking and strong analytical skills.
• Strong interpersonal skills and be able to positively influence internal and external stakeholders.
• Effective influencing and negotiation skills.
• Strong verbal and written communication skills.
• A good team player who is proactive and motivated, with keen interest in growing Singapore as a financial centre.
• Legal qualifications and experience will be an advantage.

As part of the shortlisting process for this role, you may be required to complete a medical declaration and/or undergo further assessment. All applicants will be notified on whether they are shortlisted or not within 4 weeks of the closing date of this job posting.