a report by the hong kong institute of bankers to … a career in banks 2 / 3 part 1b: banking...
TRANSCRIPT
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TalentDevelopmentSurvey2017
AreportbyTheHongKongInstituteofBankerstounderstandthecurrenttalentdevelopmentlandscapeinHongKong’sbankingindustry
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MessagefromCEO
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Dear Members,
The banking environment is getting more complex and is evolving faster than ever before. The emergence of FinTech is revolutionising the traditional roleof the banking industry, asking questions about how and where services are delivered. This leads to a new landscape that presents both opportunities andchallenges for the sector.
To understand the impacts of these changes on the banking industry, and the need for related training, The Hong Kong Institute of Bankers (HKIB)conducted the Talent Development Survey 2017. This follows the successful survey in 2016 and allows us to identify trends and benchmark sentiment. Wewere delighted with the positive response that we received and thank you for those participated in the survey.
Amongst the key findings we were pleased to discover that the practitioners who responded believe banking to be appealing to young people andgenerally regard FinTech as an opportunity to the industry. Ensuring a flow of new talent and embracing the technology are particularly significantphenomena that will ensure our industry is sustainable and key drivers for the HKIB.
Another finding was the strong demand for standardised training and a streamlined path in terms of career development. This insight underlines theimportance of the work the HKIB does as a benchmark setter and training service provider with our range of professional programmes.
The Certified Banker (CB) qualification, a common qualification benchmark launched by the HKIB, is said to be one of the most important qualifications inthe banking industry since its launch early this year. Developed in conjunction with regulators and market participants, this qualification is intended forpractitioners who wish to advance their career within the fast-changing banking environment. Our website has more details on this programme andinformation on how to join this next cohort.
The sustainable growth of the banking industry relies on people and talent development. The HKIB will continue to support the capacity building in thebanking industry to reinforce Hong Kong’s status as an international financial centre. Thank you for your interest in this survey and I hope for your ongoingsupport and engagement with the HKIB.
Carrie Leung ,Chief Executive Officer, The Hong Kong Institute of Bankers
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AbouttheResearch
Thefindingsofthissurveycanbedividedintotwokeyareas:
1. BankingIndustryOutlook• Generaloverview• EmergenceofFinTech
2. TrainingLandscapeandDemand
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RespondentProfile(1)
Gender
Background
HKIBMember?
Yes48%
No52%
Individual39%
Corporate9%
Age
Aged18-34
44%
Aged35-49
34%
Aged50-64
22%
Moreabouttheresearch
BankingEmployees
Academicsoruniversity students
Employeesofprofessionalbodies/institutes
EmployeesofFI (non-banks)
Trainingprofessionals(noninhouse)
RegulatoryProfessionals
60% 13% 10% 8% 6% 3%
4
Male61%
Female39%
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RespondentProfile(2)
Seniority
SeniorManagement/BoardDirector
19%BankingOfficer
38%
Supervisors/MiddleManagement
43%
Yearsofexperience
Lessthan10years42%
Between10-20years26%
20yearsorabove32%
BusinessDivision
Moreabouttheresearch
26% 15% 14%
9% 9%
5% 5% 4% 3%
RiskandComplianceRetailbanking
Commercial/CorporatebankingWealthmanagementFinanceandTreasury
ManagementHumanResources/Training
InformationTechnologyInvestmentbanking
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Researchhighlights:findingsataglance
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Part1a:BankingIndustryOutlook– GeneralOverview
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FindingsataGlance
75%ofrespondentsagreebankingisaprofession.
Almost80%ofrespondentsthinktheyarelikelytostayinthebankingindustryforthenextfiveyears.
Almost60%ofrespondentsconsiderthatthebankingindustrytobeappealing toyoungpeople.
Onthesamequestion,67%ofthoseaged18-34agreethatbankingisappealing.
Risk&Compliance(40%)&WealthManagement(12%)continuetobeperceivedasthemostattractivebusinessdivisionsfordevelopingacareerinbanks
2 /32 /3
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Part1b:BankingIndustryOutlook– EmergenceofFinTech
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55%ofrespondentsthinkFinTechisasanopportunityfortheindustry.
Over40%ofrespondentsbelievetheirroleswillbe replacedbyautomationorFinTech,especiallyamongtheyoung(56%)&lessexperienced(53%).
Yetthemoreexperienced(63%)andsenior(72%)stafftendtobelessalarmed.
FindingsataGlance
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Part2:TrainingLandscapeandDemand
84%ofrespondentsrecognisetheneedtostreamlinethetrainingpath.
Similartolastyear,almost80% ofrespondentsthinkthattheCommonQualificationBenchmark helpstoraisepractitioners’professionalstatus.
94%ofrespondentsfinditdifficulttoevaluateaprofessionalqualification,mostlybecausetherearetoomanyqualificationsinthemarketandtheindustrylacksastandardisedqualificationscheme
FindingsataGlance
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58%28%
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FindingsataGlance
Part2:TrainingLandscapeandDemand(Cont.)
Mostrespondentsreceivedexternaltraining inRisk&Compliance(58%),AML/CFT(49%),andFinTech&Cybersecurity(28%) inthepast12months.
81% ofrespondentsthinkthattheindustrydemandfortrainingwillgrowinthefuture,similartothatoflastyear.
Findings at a glance P.8
67%82%
77%
20%
Bycomparison,Risk&Compliancetoppedtheexternaltraininglist(67%),followedbyRolespecificsubjects(50%)andFintech&Cybersecurity(22%)inlastyear’ssurvey.
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DivingintotheNumbersPart1a
BankingIndustryOutlook:GeneralOverview
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8
43
32
%
%ofStronglyagree/Agree
Stronglyagree
Agree
Neutral
Disagree/Stronglydisagree
75 (66)
(25)
(41)
(20)
(14)
12
75%seebankingasaprofession
Figuresin()denoteresultsin2016
TowhatextentdoyouagreethatbankingisaprofessioninHongKong?(要求專業資格的行業)
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Nearly80%arelikelytoremainintheindustryHowlikelyareyoutoremaininthebankingindustryforthenext5years?
17
5
40
39VeryLikely
Somewhatlikely
NeutralSomewhatunlikely/
Notlikelyatall
(76)
(41)
(35)
(19)
(4)
%ofVerylikely/Somewhatlikely
79
Figuresin()denoteresultsin2016
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Top3Reasonsforstaying
Compensation CareerAdvancement JobSatisfaction
58% 54% 47%(63%) (60%) (45%)
Howlikelyareyoutoremaininthebankingindustryforthenext5years?
Reasonstostay
Figuresin()denoteresultsin2016
Nearly80%arelikelytoremainintheindustry
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10
43
15
%
%ofStronglyagree/Agree
Stronglyagree
Agree
Neutral
Disagree/Stronglydisagree
58 (60)
(14)
(47)
(30)
(10)
15
60%thinkbankingindustryisappealingtoyoungpeople
Almost 60%ofrespondentsconsiderthattheBankingindustryisappealing toyoungtalent,similarwithlastyear.
67%ofthoseaged18-34agree,an16percentagepointincrease fromlastyear.
Figuresin()denoteresultsin2016
To whatextentdoyouthinkthebankingindustryisappealingtoyoungpeople?
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CareerAdvancement
64% (73%)
Compensation
56% (54%)
IndustryOutlook
55% (67%)
Risk&Compliance
WealthManagement
Corporate/CommercialBanking
PreferenceLe
vel
InvestmentBanking
FinanceandTreasury
40%
12%
11%
9%
8%
Findings at a glance P.9
HKIB Member
!
72%
(34%)
(17%)
(13%)
(12%)
(10%)
Top3ReasonsofAttractiveness
16
Risk&complianceremainsthemostattractivedepartmentWhichdepartmentdoyouconsiderthemostattractivefordevelopingacareerinbank?
Figuresin()denoteresultsin2016
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DivingintotheNumbersPart1b
BankingIndustryOutlook:EmergenceofFinTech
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IsFinTechanopportunityorthreattotheindustry?
55%
15%
8%
Difficulttotell 22%
Neutral
MoreofaThreat
MoreofanOpportunity
18
BankingOfficer
Customerfacingemployees
ViewasaThreat
24%
22%
MajorityviewFinTechmoreofanopportunity
BoardDirector/Seniormanagement
64%
ViewasanOpportunity
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30
26
34
10
%
%ofStronglyagree/Agree
Stronglyagree
Agree
Neutral
Disagree/Stronglydisagree
44
Aged18-34
Bankingofficer
With20yearsormoreexperiences
BoardDirector/Seniormanagement
Moreagreedwithin(%)
Moreneutral/disagreed(%)
56
54
53
72
63
Withlessthan10yearsofexperiences
19
Over40%believeFinTech/automationwillreplacehumanrolesDoyouagreethatFinTech/automationwillreplacehumanrolesinthenextdecade?
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HaveyoureceivedtrainingonFinTech inthepast12months?DoyouseeFinTech asanopportunityorthreat?
Neutral
MoreofaThreat
MoreofanOpportunity
ReceivedTrainingonFinTechinPast12Months
Yes No
73%
4%
15%
49%
9%
18%
Not sure 8% Notsure24%
20
73%ofthosereceivedtrainingviewFinTechmoreasanopportunity
Figuresin()denoteresultsin2016
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TrainingLandscape&Demand
DivingintotheNumbersPart2
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2
53
35
%
Stronglyagree
Agree
Neutral
Disagree/Stronglydisagree
(88)
(40)
(48)
(10)
(2)
22
Doesprofessionaltraininghelpstrengthenmarkettrust?
Nearly90%thinkprofessionaltraininghelpsstrengthenmarkettrust
%ofStronglyagree/Agree 88
Figuresin()denoteresultsin2016
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Lackofconfidenceinawardingbodies
Difficulttolinkupwithmyformertraining/education
Toomanyqualificationsinthemarket
Lackofastandardisedqualificationscheme(缺乏統一資歷基準)94
6
What is your main challengeinevaluatingaparticularprofessionalqualification?
94%oftherespondentshave difficulty
whenevaluatingaqualification
39%
35%
10%
8%
23
94%finditdifficult toevaluateaprofessionalqualification
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18
3
50
29
%
Stronglyagree
Agree
Neutral
Disagree/Stronglydisagree
(78)
(27)
(51)
(19)
(4)
24
Almost80%believeacommonbenchmarkraisesprofessionalstatusDoyouagreethatacommonqualificationbenchmark(通用資歷基準)helpstoraisepractitioners’professionalstatus?
%ofStronglyagree/Agree 79
Figuresin()denoteresultsin2016
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13
3
56
28
%
Stronglyagree
Agree
Neutral
Disagree/Stronglydisagree
Doyouagreethereisaneedtostreamlinetheprofessionaltrainingpath(精簡培訓路徑和安排)foremployees?
25
84%ofrespondentssaytheneedtostreamlinetrainingpathisnecessary
%ofStronglyagree/Agree 84
Figuresin()denoteresultsin2016
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Keyfactorsconsideredbyemployeesintrainingselectionprocess
Selectionfactors(Employees)
Relevancetoyourjob
Impactoncareeradvancement
Regulatoryrequirements
Impo
rtan
ceLe
vel
Fee
Supervisors’/Colleague’sRecommendationoftrainers
(81%)
(54%)
(46%)
(24%)
(17%)
(28%)Reputationoftrainingprovider
Findings at a glance P.8
67%
82%
77%
20%
70%
49%
37%
28%
27%
23%
Whatfactorswouldyouconsiderimportantwhendecidingtotakeatrainingcourse?
é
é
Stageofsh
ortlisting
Stageofco
mpleting
transactions
Figuresin()denoteresultsin2016
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Top3externaltrainingsubjectsengaged
Risk&Compliance
AML/CFT
FinTechandCyberSecurity
58%(67%)
49%(N/A)
28%(22%)
27
Nearly60%receivetraininginRiskandCompliance
Risk&Compliancetopstheexternaltraininglist
Figuresin()denoteresultsin2016
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17
2
48
34
%
%ofVerylikely/Somewhatlikely
Verylikely
Somewhatlikely
Neutral
Somewhatunlikely/Notlikelyatall
81 (82)
(37)
(45)
(15)
(3)
IstheIndustrydemandfortraininglikelytogrow?
28
Overhalfrespondentsareeagertoreceivemore externaltraining80%thinkdemandfortrainingisontherise
Figuresin()denoteresultsin2016
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46
22
7
4
5
9
3
2
%
Risk&Compliance
FinTech&CyberSecurity
WealthManagement
Corporate/ CommercialBanking
CreditManagement
RetailBanking
RMB&ChinaInitiatives
Treasury
Whichofthefollowingdoyouthinkbanks&financialinstitutionsshouldfocusonasfarastrainingresourcesallocationisconcerned?
Primaryfocus
29
Trainingresources:primaryfocus
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Keyareasofaction
ProvidemoretrainingonFinTech &cybersecurity
Engageyoungtalent
Streamlineprofessionaltrainingpath
Developnewskillsforfutureopportunities
Promotecommonqualificationbenchmark
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Thankyou!
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AboutthesurveyCommissionedbytheHongKongInstituteofBankers(HKIB),theHKIB’sTalentDevelopmentSurveywasanonlinequestionnaireconductedbetweenMayandJuly2017byCimigo andParadigmConsulting.FindingsofthistalentdevelopmentsurveywillbeusedbyHKIBasareferencepointwhenshapingthefutureoftraininganddevelopmentforthebankingsector.