Is it a requirement? Not at all.

Do employers in Singapore place a huge emphasis on it? Not necessarily.

BUT, think about it this way. A CFO is looking to hire a finance manager. He receives a hundred CVs - finance executives are dime a dozen mind you. All things equal, between person A with CA and person B without, which one is the easier one to pick?

Unfortunately, having devoted yourself to the finance profession, it is ultimately difficult to escape the paper/accreditation chase.