Invitation for ExCo Nominations 2021
Dear Representative, SFA Member Companies
The 2021 SFA Nominating Committee invites representatives of SFA members to nominate individuals to serve on the Committee of SFA for the 2021-2023 term.
The Committee will consist of the following members:
Seven Ordinary Committee Members (which could include the Immediate Past President)
In accordance with Regulation 8.2 of the SFA Constitution:
- Only one representative of any member may be elected to the Committee;
- At least half of the Committee members must be representatives of ordinary members, and
- No more than two Committee members may be from a bank or insurance company or finance company or trust company registered with the Monetary Authority of Singapore.
Additionally, a majority of the Committee Members must be Singapore citizens or permanent residents. Notwithstanding the above, the President, Secretary, and Treasurer must be Singapore citizens or permanent residents. Only representatives of Ordinary or Associate members who are resident in Singapore may be nominated.
Pursuant to Regulation 8.3 of the SFA Constitution, the position of Immediate Past President will not be subject to an election. The Immediate Past President who has completed his/her term as President may at his/her discretion choose to occupy the position of Immediate Past President for one (1) term.
Nominations must be made in writing by the voting representative and must be seconded by another representative, in the following manner:
- The nomination form must be signed by the person nominated, signifying the person's consent to the nomination.
- You must indicate which position the nomination is for (i.e. one of the four Officer positions or the Ordinary Committee Member positions).
- The nomination form must be signed by the proposer and seconder.
- Signatures may be signed in hard copy or electronically.
- The nominating committee may also make nominations with the prior written approval of the nominee.
A copy of the Nomination Form can be found below:
Nominations will close on 13 Feb 2021, 11:59 PM SGT. Please submit your completed nomination form and the information requested by 13 Feb 2021.
The Nominating Committee will review the nominations and will announce the names of eligible nominees on or before 23 Feb 2021, at least 30 days prior to the Election.
If you have any questions or queries, please email the Singapore Fintech Association at [email protected]
Mr Adrian Fisher
2021 SFA Nominating Committee
22 Jan 2021
FREQUENTLY ASKED QUESTIONS (FAQ)
1. What types of people should apply?
We need fintech professionals that are passionate, knowledgeable and well connected to lead the Association in representing the broader fintech industry, fostering talent and innovation across the fintech sector, and supporting the growth of the fintech industry in Singapore.
2. Who is eligible to apply?
The staff of members* of the Singapore FinTech Association may apply. Only one representative per company may be elected to the Committee. While the president, vice president, secretary and treasurer must be a Singapore citizen or permanent resident, the other committee members may be a resident in Singapore (i.e. on Employment Pass, EntrePass, Letter of Consent). A majority of the Committee, however, must be Singapore citizens or permanent residents.
*members refer to corporates whose membership applications have been approved before 25th March 2021 and membership fees paid.
3. How do I apply?
You can apply by submitting information about yourself, including contact details and a short bio, via the Nomination Form found at the link on the email that has been sent to SFA members regarding nominations. You will also need a proposer and seconder for your nomination.
4. Do I apply for a specific position?
You may apply for the role of president, vice president, secretary or treasurer. Otherwise, you can apply for the role of “Ordinary Committee Member.” Seven “ordinary” members will be elected at the Election unless the Immediate Past President elects to take a position on the Committee (in accordance with Regulation 8.3 of the Constitution), in which case six "ordinary" members will be elected.
5. What is the commitment required?
Being elected to the SFA executive committee comes with significant responsibilities. The Monetary Authority of Singapore (“MAS”) has provided a financial grant to SFA to help develop the fintech ecosystem in Singapore, which comes with an agreed set of targets and achievements that SFA will need to achieve.
The key areas of the MAS key performance indicators (“KPIs”) include without limitation to outreach events, training and re-skilling, overseas trade mission, collaboration with domestic and foreign associations, research or in the participation of industrial guidelines and standards. Your commitment to lead or manage the KPIs are vital to the success of SFA and we would need you to detail in your nomination form how you will contribute towards the association goals.
We encourage each nominee to reach out to us at [email protected] if you wish to have more information on these KPIs (for which you undertake to sign a Non-Disclosure Agreement prior to being furnished with the said information in confidence).
6. Do I need to be responsible for something or just have a committee role?
You can choose to run to be an office-bearer – the president, vice president, secretary or treasurer. Most Committee members also serve on a subcommittee. There are a number of subcommittees including Partnerships, Women in FinTech and subcommittees focused on different areas such as RegTech, as well as individuals working on membership or other activities.
7. What’s the process & timeline of nomination and selection?
22 Jan – Nominations are open
13 Feb – Nominations close at 11:59 PM SGT
13-23 Feb – Nominations are reviewed by the Nominating Committee
By 23 Feb: The SFA Committee will send an announcement about the Election
25 Mar – Election to vote and decide on new members
8. What are the criteria for selection by the Nominating Committee:
The Nominating Committee is looking for individuals who have the interest, passion, experience and commitment to add value to the fintech community in Singapore. There are technical eligibility criteria (as listed in this FAQ and described in the SFA's Constitution) that you will have to meet. The Nominating Committee will also take into account the below factors, which we encourage you to respond to in your nominating form for the benefit and consideration of the members who will vote at the AGM. These are:
- Ecosystem Engagement. The nominee has participated in and supported ecosystem activities. Examples might include moderating panels, speaking, mentoring, advising, volunteering at events, coordinating events, or working on behalf of the SFA. We’re looking for people with a passion and with the ability to represent the fintech industry and issues.
- FinTech innovation engagement. The nominee is actively engaged in FinTech innovation activities such as building FinTech solutions, supporting bank transformation to FinTech, consulting in FinTech, or mentoring fintech companies.
- Commitment to contributing to the SFA community. The nominee must be prepared to spend time (whether on their own time or as part of their company duties) and to devote time to SFA meetings and to grow the SFA community and ecosystem and achieve the KPIs of SFA.
9. How will Committee Members be elected?
SFA members will vote for office-bearers and ordinary committee members at the Election, and the Election will follow on a simple majority vote of the members. The election will be by secret ballot. The term of office of the Committee is two years.
10. Who can be the proposer and seconder in the nomination form?
Both the proposer and the seconder must be the representative of another SFA member, or an existing committee member.
11. Can a member propose or second more than one nominee?
If you have any questions please email the Singapore Fintech Association at [email protected]