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Here Comes The CFIO – Chief Financial & Information Officer Rolled Into One!

Singapore Polytechnic's Business and Media & Info-Communications Technology Schools jointly launch Diploma in Financial Informatics.


Have you come across an IT specialist who can also balance the accounts book? Must the role of the Chief Financial Officer (CFO) and Chief Information Officer (CIO) be separated? With the new diploma course in Financial Informatics, we may just see the birth of a new breed of senior management who are equally adept in financial and infocomm issues.

Starting this year, Singapore Polytechnic (SP) will be offering a new Financial Informatics course to cater to the growing needs for techno-strategists with cross disciplinary skills in finance and infocomm.

The quickening pace of innovation in financial products and services will continue to drive up the demand for finance and accounting executives who are also infocomm savvy. Graduates with skills in both areas will be highly-sought after and they may well end up as the first batch of CFIOs in the years to come!

Singapore Polytechnic's (SP) Schools of Business (SB) and Media & Info-Communications Technology (SMIT) conducted a study in March 2007 that showed a dire need for IT specialists who are also knowledgeable in business, finance accounting and marketing.

Says Mr Tan Hang Cheong, Principal of Singapore Polytechnic, "Singapore is fast developing into a leading financial centre in Asia. As more global financial giants are attracted to make Singapore their regional or global operations centre, so is the demand for more support executives. "

Mr Ng Nam Sin, Executive Director of the Monetary Authority of Singapore says, "Financial institutions need people who not only understand programming languages but also understand the language of the business. IT specialists are also expected to be familiar with banking and financial processes. Currently, it is not easy to find talent who possess this duality of expertise.
"Therefore, one clear thrust in the grooming of IT talent for the financial industry is the need to offer good training programmes that integrate applied technology with banking and finance.  This is still a relatively nascent field in Asia. With the launch of this new diploma, Singapore Polytechnic joins several other institutions of higher learning to equip students with integrated infocomm and finance knowledge at both the diploma and graduate degree levels.  I believe the efforts to train students would go a long way to build a sustainable pipeline of talent that would enable Singapore to keep and further our competitive edge in the areas of financial operations and technology."

The Financial Informatics course is a multi-disciplinary course where students will be trained in cross-disciplinary skills in infocomm and finance that will help them define complex problems in financial services and translate them into feasible IT solutions. They will also be equipped with fundamental concepts in IT and Information Systems development plus domain knowledge in Finance and Accounting.

Graduates from this course will be able to capitalise on the emerging opportunities – locally, regionally and globally. They can look forward to a wide array of jobs upon graduation, such as banking system analyst, financial technical consultant, system process executive, accounting system analyst, accounting technical consultant.

They can also widen their options when considering a degree course in local or foreign universities. Besides opting for university courses in banking, finance or accounting, they can also choose IT courses.

The Diploma in Financial Informatics is a three-year course with an initial intake of 60 students in the academic year 2008. Interested "O" level school leavers can find out more online here.

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