DBS and IBF to help prepare finance workers for AI-shaped roles

Nurdianah Md Nur

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DBS will work with IBF to test how employees can move into redesigned roles, after upskilling more than 11,000 staff whose jobs have been reshaped by AI.DBS has signed a memorandum of understanding (...

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They will also jointly test and shape workforce interventions for employees moving into redesigned roles, drawing on IBF's Job Redesign and Reskilling Career Conversion Programme.\nThe partnership builds on DBS's own workforce efforts. The bank says it has equipped its 40,000 employees globally, including 14,800 in Singapore, with foundational AI skills. More than 11,000 employees have been upskilled for roles substantially reshaped by AI.\nDBS has also undertaken 12 operating-model transformations to redesign roles, reskill workers and redeploy them into new career pathways. One involved transforming the private banking assistant relationship manager role into a client enablement partner role. By using AI to handle routine tasks, employees in the redesigned role can focus on client engagement, coordinating complex needs and identifying new business opportunities.\n\"Our philosophy has always been to save people, not jobs. Jobs will change, and tasks will evolve, but we are determined to bring everyone along our workforce transformation,\" says Lee Yan Hong, DBS's head of group human resources.\nDBS is also a pioneer partner in IBF's Young Talent Programme for AI in Finance. It will welcome more than 500 local young people in 2026 through its management associate, internship and traineeship programmes.\nAccording to IBF's chief executive officer Carolyn Neo, the collaboration would allow the two organisations to test and co-develop workforce initiatives for an AI-enabled financial sector. \"It is through such collaborations between IBF and financial institutions that we can help employees grow and progress in their job roles alongside AI adoption. Technology creates possibilities, but partnership turns them into opportunities for people,\" she says.\nSeparately, DBS has launched a Career Advisory Service for its employees, combining AI-powered career tools with human guidance. More than 100 DBS employees will serve as career advisers in the initial rollout across the bank's six core markets.\nThe service draws on iGrow, launched in 2022, which uses AI and machine learning to recommend learning and job opportunities based on an employee's skills, career aspirations and learning history. It also uses iCoach, a generative-AI coaching platform launched last year with executive coach Marshall Goldsmith that provides on-demand, personalised career guidance.\nGovernment support\nSpeaking at DBS's Live Fulfilled Festival 2026, where the MOU was signed, Minister for Trade and Industry Dr Tan See Leng says DBS had \"shown how it can be done\" in redesigning roles and reskilling employees.\nSeparately, Tan says the government rolled out the SkillsFuture Workforce Development Grant (Job Redesign+) in March to help companies redesign job roles and build internal capabilities. A redesigned SkillsFuture Enterprise Credit will later this year help defray the cost of workforce transformation.\nHe adds: \"The government has brought career guidance, training and job-matching support under the recently established Skills and Workforce Development Agency to provide more integrated, seamless and proactive support to workers at every stage of their careers.\"\nHe also highlights the need for a collaborative effort, wherein employers must provide opportunities for workers to learn and take on bigger roles, while unions support employees through transition and industry associations bring firms together around common challenges. \"Today's MOU [between DBS and IBF] shows what this partnership looks like in practice. When we get this right - with our enterprises adapting, our workers learning, and partners working closely together - AI will indeed power the next chapter of Singapore's financial sector's growth, and with even better jobs at its core and its heart.\"\n[Updated at 10.57 am to include Minister's quotes]","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}