SINGAPORE — Recently, TOC reported that an anonymous whistleblower in the banking sector raised concerns about senior staff appointments at Citibank’s Singapore branch, suggesting that the bank may be overlooking potentially viable local candidates in preference to existing staff from overseas.
She chose to stay anonymous due to job security concerns in her present employment and detailed the questionable hirings at Citibank.
The whistleblower highlighted that two Senior Vice Presidents (SVPs) were recruited from India by the Global Functions head at Citibank’s Changi Business Park. She noted that these SVPs continued to recruit more India-based staff, to work in India for the Global Functions Head in Singapore.
One of the Indian SVPs was transferred to Singapore in February 2023, resulting in significantly higher costs than their original salary in India.
The whistleblower found it contradictory that the bank did not advertise the position or interview any local candidates, contrary to the recommendations of the Tripartite Alliance for Fair and Progressive Employment Practices (TAFEP).
However, under current regulations, a company does not have to advertise the position if it is an intra-company transfer from overseas. Such transfers also do not affect the company’s quota for foreign staff.
She highlighted, “the salary of a typical SVP in Singapore is around 20,000 SGD p/mth. This transfer is blatant cronyism in its simplest form.”
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