POSB Singapore: Company Culture, Benefits & Leadership

Joining POSB Singapore offers a distinctive chance to become a part of a storied legacy, blending tradition with innovation. As Singapore's longest-standing local bank, formerly the Post Office Savings Bank, POSB has transformed into a pivotal player in the nation's consumer banking landscape.

Aniday will offer a comprehensive glimpse into what makes POSB an exciting workplace, from the company's history, culture, benefits, and leadership. 

Company History

Founded on January 1, 1877, the Post Office Savings Bank was conceived to offer accessible banking services to the public. Evolving into a trusted institution over the decades, it adeptly adjusted to the shifting financial terrain. A pivotal moment arrived on November 16, 1998, as DBS Bank acquired POSB and its subsidiaries, cementing its stature in the banking sector.

Despite this acquisition, POSB retains its distinctive identity within the DBS Group, blending tradition with modernity. Employees at POSB are not just part of a bank; they are stewards of a legacy that spans more than a century.

Corporate Culture

POSB's corporate culture seamlessly intertwines professionalism, innovation, and an unwavering dedication to customer satisfaction. Prioritizing integrity and ethical conduct, the bank cultivates an empowering environment where employees are inspired to make a positive impact. Teamwork forms the bedrock of POSB's ethos, fostering collaboration and encouraging employees to share ideas, actively contributing to the bank's prosperity.

Innovation stands as a defining element within POSB's culture. Aligned with the DBS Group, the bank harnesses cutting-edge technology to elevate its services, affording employees the opportunity to spearhead the digital transformation within the financial industry.

POSB Products

POSB offers a plethora of services which meets the needs of their customers, these include: 

• Deposit Accounts: Savings, current, and fixed deposit accounts with competitive interest rates, no minimum balance, and convenient access to ATMs and branches.

• Credit Cards: Cashback, rewards, and travel cards offering benefits like cashback, travel insurance, and merchandise or travel redemptions.

• Personal Loans: Tailored loans for home improvement, education, and debt consolidation with competitive rates, flexible terms, and a simple application process.

• Investment Products: Explore growth opportunities with unit trusts, equities, and fixed income products, offering diversification and professional management.

• Insurance Products: Ensure financial security with life, health, and accident insurance, providing peace of mind and access to medical care.

POSB Online Banking

Banking services such as fund transfers and account management is made easy with POSB online banking services. This allows users to assess the platform anytime and anywhere as long as they have an internet connection. 

These features include: 

• Account balances and transactions

• Bill payments

• Fund transfers

• Foreign currency exchange

• Investment management

• Insurance policies

• POSB Mobile Banking

Employee Benefits

Working at POSB comes with a comprehensive range of employee benefits, ensuring the well-being and satisfaction of the workforce. From competitive salaries to health and wellness programs, POSB recognizes the importance of investing in its employees.

1. Health and Wellness Highlights

• Comprehensive medical insurance for you and your family, providing peace of mind.

• Generous leave benefits for major life events, supporting your work-life balance.

• Customizable flexible benefits stipend tailored to your lifestyle needs.

• Flexi-work arrangements for a harmonious balance between work and personal commitments.

• Complimentary basic health screenings, wellness events, and recreational activities to promote a healthy lifestyle.

2. Family-Friendly Work Culture

• Maternity, paternity, and family leave to cater to your family needs.

• Annual Kids@Work and Family Day activities, fostering bonding within your family and the DBS family.

3. Community Impact

• Opportunities to join and lead volunteering projects, making a difference in your communities.

• Volunteer leave to actively contribute to social causes close to your heart.

4. Learning and Career Development

• Continuous learning initiatives to thrive in the evolving digital landscape.

• Internal mobility opportunities across businesses and countries.

• Cross-department projects and innovation programs to broaden your skills.

• Scholarship programs to support your educational and professional qualifications.

5. Financial Well-being

• Preferential banking perks on our products and services for saving, protecting, investing, and financing.

• Employee share purchase plan with a 25% contribution match to help you save more.

• Employees enjoy higher interest rates on deposits, lower rates on loans, and a fee waiver or discount.

6. Recognition and Rewards

• Quarterly awards recognizing exemplary performance.

• Peer-to-peer recognition platform honoring everyday achievements.

• Service Recognition Award appreciating your contribution and commitment.

Leadership at POSB

POSB's leadership plays a pivotal role in shaping the bank's direction and maintaining its standing as a leader in consumer banking. Under the umbrella of the DBS Group, POSB benefits from a leadership team with a wealth of experience and a forward-thinking approach.

The leadership at POSB is known for its commitment to fostering a positive work environment and cultivating a culture of innovation. By aligning the bank's goals with the aspirations of its employees, POSB's leadership ensures that everyone is working towards a common vision of success.

Employee Reviews

Generally, employees have positive reviews of the company. POSB’s strong culture, commitment to innovation, and focus on employee development are greatly appreciated by employees, so garnering positive reviews from employees isn’t surprising. 

Some of the most common positive reviews include:

"POSB is a great place to work with a strong culture and a lot of opportunities to learn and grow."

"POSB is a very innovative company that is always looking for new ways to improve its products and services."

"POSB is a very supportive company that cares about its employees and their well-being."

In Summary

POSB, a prominent Singaporean bank, boasts a robust history and a promising future. With unwavering dedication to customers, employees, and the community, the company stands as a beacon of commitment. For those seeking a fulfilling career in finance, Aniday enthusiastically endorses POSB as an exceptional workplace, promising both challenges and rewards.