SINGAPORE – Attending a course in operational risk management sharpened Ms Kunjammai Sockalingam’s eye to spot potential risks in products OCBC Bank is planning to roll out.

Classroom discussions and analysing case studies during the course were among ways that “exposed me to a wide range of issues so that I could better manage potential risks in the digital strategy solutions… we were looking to introduce”, said Ms Kunjammai, the bank’s vice-president of investment operations.

She is one of around 5,000 beneficiaries of the Monetary Authority of Singapore’s Training Allowance Grant to motivate banks to upgrade workers’ skills during the Covid-19 downturn.

The MAS will disburse $10 per training hour to individuals who are paying for courses accredited by the Institute of Banking and Finance and $15 per training hour for employees sponsored by financial institutions and fintech firms.

Ms Kunjammai said: “With Covid-19, my team had to change the way we work to adapt to the new normal.

“On top of managing these changes at work because of split operations and working from home arrangements, I had to juggle between spending time with my family and also my personal learning development.”

Ms Kunjammai said that the effort was worthwhile: “In my line of work, (coping with Covid-19) means changes… which might give rise to new types of risk.

“Through this course, I’ve learnt not just the technical knowledge needed in my role, but I’ve also gained perspective … to be agile and adaptable in unforeseen situations like Covid-19.”

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