Graduate Studies Blog

MSC ACCOUNTANCY

SCHOLAR EMBARKS ON ACCOUNTANCY DEGREE WITH A MISSION: TO RETHINK PUBLIC FINANCE IN THE FACE OF TECH DISRUPTION

Bobby Tan’s passion is in public finance. He first started out as a policy analyst in Singapore’s Ministry of Finance (MOF). Then, he moved into the Accountant-General’s Department of MOF—his latest role of over three years was Head of Cash Management & Payments in the Financial Reporting and Operations directorate. Bobby describes the directorate as “akin to the treasury function in a company.”

One of the directorate’s roles is managing the cash flow of Singapore’s public sector, which comprises more than 80 ministries and statutory boards. The day-to-day work includes overseeing key platforms for billings and payments between vendor and government. The team also reviews financial processes to improve efficiency while maintaining proper controls.

“My work combined financial operations and technology,” says Bobby. “These functions may not seem glamorous at first, but in recent years, finance is at the coalface of disruptive technology. This means that the finance function will increasingly move upstream as a business partner to help an organisation become more efficient or deliver cost savings. It has been eye-opening to witness how financial institutions and fintech startups have made all of that happen with digital innovation.”

It was during his time in the directorate that Bobby felt he wanted a deeper understanding of accounting and finance. “I believe that for the finance function to be an effective business partner, it needs to first possess a strong foundation and be flawless in executing its basic purposes,” he says.

So, Bobby decided to strengthen his own foundation and be a stalwart resource in the area. He enrolled in the Nanyang Master of Science in Accountancy (Nanyang MSc in Accountancy) to build up his knowledge, and is currently studying full-time with a scholarship from MOF.

“I enjoy the cross-disciplinary approach of the programme,” he says. “It really reflects current realities, such as how we need to synthesise knowledge from different domains these days to tackle actual business problems. The professors at Nanyang Business School also have a strong practitioner bent, which makes their teaching come alive. It’s always refreshing to be exposed to private sector experiences.”

Bobby adds, “What I am learning will complement my previous experience in policy work. For example, I look forward to getting a different perspective on financial operations from the Assurance and Auditing course in terms of analysing risks and instituting internal controls.”

With the skills that he is gaining, Bobby also hopes to inspire a forward-looking mindset in his next team. “Disruption and big data now offer more opportunities for finance practitioners to change the way we work and the insights we offer,” says Bobby. “But for people to be open to these opportunities and change, they have to get out of their comfort zones. It becomes more important to instil a growth mindset. Better policy, process or system changes will flow from that mindset.”

In line with Singapore’s Smart Nation initiative and armed with stronger accounting knowledge, Bobby is excited to explore how public finance can make the lives of citizens better through innovation. “There are many possibilities, from transforming our operations to exploring new technologies and rolling out mobile apps that really meet needs,” he says. “Public finance can make a real impact on citizens—contributing to that impact lies at the heart of my passion.”

Quick tip: Be hungry.
“Stay curious, be unafraid to speak up, ask questions. These are the ways in which we can truly learn. Also, don’t take yourself too seriously because none of us know everything!”

For more information on the MSc Accountancy programme, please visit our website or email mscacc@ntu.edu.sg.