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Today 12:10 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
But what is not acceptable is that MAS is not hiring staff at a fast enough pace to keep up. The workload has increased by 50% but the staff count has only increased by 10%.

The choices are quite simple to me actually, you either make a real effort to address the staff shortage, or you stop being a hero and regulate within your means. There is no shame at all in being a less-sophisticated regulator. We ought to recall the trite saying that "one cannot have his cake and eat it too".
I can shed some light on this. Headcount is not MAS' fault since manpower is limited for all public sector agencies centrally by MOF under MMF (s://.mof.gov.sg/news-publications/parliamentary-replies/Productivity-Growth-of-The-Government), and agencies are penalised if they hire above their MMF quotas (most agencies will have their annual budget from MOF reduced for each headcount over quota, or else they have to pay an equivalent penalty sum to MOF if they are revenue-generating agencies like MAS).

Therefore, the only way forward is to deprioritise work, and management needs to be aware of the risk trade-offs in assigning headcounts to BAU stuff vs new areas like crypto and e-payments.

Quote:
Originally Posted by Unregistered View Post
But what MAS sorely lacks is its ability to digitalize.

It is somewhat ironic that MAS keeps pushing its financial institutions to digitalize, but its own internal processes are so manual and slow. A lot of information is scattered all over the place and impossible to find. This is because for some departments, there seems to be the lack of a proper filing system, even for routine/mundane matters.
Management is well aware of this hypocrisy, but this stems from an organisation culture issue and generally culture issues can't be solved easily. Unlike profit-driven private companies where you can force rapid culture change from top-down and fire those who refuse to change or somehow get them to resign (even then, this worked for DBS but not for Lazada), you can't do that in public sector agencies not only because of the potential backlash, but also because it runs contrary to the government's objective of trying to encourage people to remain in the workforce (yes, it's mainly the older ones who are more resistant to change everywhere, even in the private sector).

Maybe the whole public service needs to come up with a way to penalise people who refuse to learn and adapt in some way, but that's probably a far larger point for another day.
Yesterday 02:28 PM
Unregistered What happens when your salary is nearing the cap of your grade.

Do you get redesignated to the next grade ie. AD2 to DD1 or do you simply get 0% increment every year?
25-09-2022 11:09 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Poor in what ways?
Honestly if you ask me, it is because the scope of work has exploded but the organization is not agile enough to respond to it. Regular officers have become burdened with this massive increase work that they are expected to handle without any difficulty.

One prime example is on the regulatory front. There are huge loads of new regulations coming in simply because the world has become more complex to regulate. Much of these regulations arise from developments in the US and Europe that Singapore usually follows. This is natural and understandable. But what is not acceptable is that MAS is not hiring staff at a fast enough pace to keep up. The workload has increased by 50% but the staff count has only increased by 10%.

The choices are quite simple to me actually, you either make a real effort to address the staff shortage, or you stop being a hero and regulate within your means. There is no shame at all in being a less-sophisticated regulator. We ought to recall the trite saying that "one cannot have his cake and eat it too".

There are other issues that are not entirely the fault of MAS. During COVID-19, many other companies experienced a situation where everything went online and communications were expected to become instantaneous. A letter-by-letter exchange between 2 parties now warrants a response overnight. This is unsurprising, given that such convenience should have been adopted long ago. But what MAS sorely lacks is its ability to digitalize.

It is somewhat ironic that MAS keeps pushing its financial institutions to digitalize, but its own internal processes are so manual and slow. A lot of information is scattered all over the place and impossible to find. This is because for some departments, there seems to be the lack of a proper filing system, even for routine/mundane matters. Indeed, it is the routine/mundane matters that are most suitable for digitalization. Suffice to say, you have to actually join MAS before you find out about this. I try very hard not to blame management for this, but from the management personnel I have interacted with, they are very good at understanding their own policy area but are terrible at adopting digitalization practices in their departments (or perhaps there is just no such culture in the organization). In any case, digitalization usually does not fit into KPIs or maybe it fits in the wrong manner into KPIs.

One knows that banks have to digitalize quickly or risk being left behind by the competition. The regulator on the other hand faces no such pressure. Hear hear.
23-09-2022 09:25 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Is 9k for a 33yo the normal progression for non-IT/FO?

It seems from the posts here that people tend to hit DD by early 30s and the pay for DD is around 10k
DDs are usually on 200k package la. 10k is too low
23-09-2022 04:46 PM
Unregistered Is 9k for a 33yo the normal progression for non-IT/FO?

It seems from the posts here that people tend to hit DD by early 30s and the pay for DD is around 10k
17-09-2022 12:25 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Not Susan already, still Susan here Susan there LOL
That guy is a siaolang who blames everything going wrong in his life on HR. The type of guy who blames the weather that day when he does badly in an exam.
14-09-2022 05:29 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Let me ask Susan about next year's bonus plans and I will update you after that
Not Susan already, still Susan here Susan there LOL
12-09-2022 01:14 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Work at MAS or DBS better?
Definitely dbs. Mas is damn low paid
09-09-2022 01:08 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Poor in what ways?
Are you considering DBS or MAS job offers? Or are you just asking in general?
08-09-2022 11:49 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
DBS. Used to be MAS but in recent years, work culture in MAS become poor. That also explains high attrition rate for the last 2 years.
Poor in what ways?
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