A report by The Hong Kong Institute of Bankers to ... · Commissioned by the Hong Kong Institute of...

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

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%

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Male61%

Female39%

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

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

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.

DivingintotheNumbersPart1a

BankingIndustryOutlook:GeneralOverview

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17

8

43

32

%

%ofStronglyagree/Agree

Stronglyagree

Agree

Neutral

Disagree/Stronglydisagree

75 (66)

(25)

(41)

(20)

(14)

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75%seebankingasaprofession

Figuresin()denoteresultsin2016

TowhatextentdoyouagreethatbankingisaprofessioninHongKong?（要求專業資格的行業）

Nearly80%arelikelytoremainintheindustryHowlikelyareyoutoremaininthebankingindustryforthenext5years?

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5

40

39VeryLikely

Somewhatlikely

NeutralSomewhatunlikely/

Notlikelyatall

(76)

(41)

(35)

(19)

(4)

%ofVerylikely/Somewhatlikely

79


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Top3Reasonsforstaying

Compensation CareerAdvancement JobSatisfaction

58% 54% 47%(63%) (60%) (45%)

Howlikelyareyoutoremaininthebankingindustryforthenext5years?

Reasonstostay


Nearly80%arelikelytoremainintheindustry

14

31

10

43

15

%


Stronglyagree

Agree

Neutral


58 (60)

(14)

(47)

(30)

(10)

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60%thinkbankingindustryisappealingtoyoungpeople

Almost 60%ofrespondentsconsiderthattheBankingindustryisappealing toyoungtalent,similarwithlastyear.

67%ofthoseaged18-34agree,an16percentagepointincrease fromlastyear.


To whatextentdoyouthinkthebankingindustryisappealingtoyoungpeople?

CareerAdvancement

64% (73%)

Compensation

56% (54%)

IndustryOutlook

55% (67%)

Risk&Compliance

WealthManagement

Corporate/CommercialBanking

PreferenceLe

vel

InvestmentBanking

FinanceandTreasury

40%

12%

11%

9%

8%


HKIB Member

!

72%

(34%)

(17%)

(13%)

(12%)

(10%)

Top3ReasonsofAttractiveness

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Risk&complianceremainsthemostattractivedepartmentWhichdepartmentdoyouconsiderthemostattractivefordevelopingacareerinbank?


DivingintotheNumbersPart1b

BankingIndustryOutlook:EmergenceofFinTech

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IsFinTechanopportunityorthreattotheindustry?

55%

15%

8%

Difficulttotell 22%

Neutral

MoreofaThreat

MoreofanOpportunity

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BankingOfficer

Customerfacingemployees

ViewasaThreat

24%

22%

MajorityviewFinTechmoreofanopportunity

BoardDirector/Seniormanagement

64%

ViewasanOpportunity

30

26

34

10

%


Stronglyagree

Agree

Neutral


44

Aged18-34

Bankingofficer

With20yearsormoreexperiences

BoardDirector/Seniormanagement

Moreagreedwithin(%)

Moreneutral/disagreed(%)

56

54

53

72

63

Withlessthan10yearsofexperiences

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Over40%believeFinTech/automationwillreplacehumanrolesDoyouagreethatFinTech/automationwillreplacehumanrolesinthenextdecade?

HaveyoureceivedtrainingonFinTech inthepast12months?DoyouseeFinTech asanopportunityorthreat?

Neutral

MoreofaThreat

MoreofanOpportunity

ReceivedTrainingonFinTechinPast12Months

Yes No

73%

4%

15%

49%

9%

18%

Not sure 8% Notsure24%

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73%ofthosereceivedtrainingviewFinTechmoreasanopportunity


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TrainingLandscape&Demand

DivingintotheNumbersPart2

11

2

53

35

%

Stronglyagree

Agree

Neutral


(88)

(40)

(48)

(10)

(2)

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Doesprofessionaltraininghelpstrengthenmarkettrust?

Nearly90%thinkprofessionaltraininghelpsstrengthenmarkettrust

%ofStronglyagree/Agree 88


Lackofconfidenceinawardingbodies

Difficulttolinkupwithmyformertraining/education

Toomanyqualificationsinthemarket

Lackofastandardisedqualificationscheme(缺乏統一資歷基準）94

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What is your main challengeinevaluatingaparticularprofessionalqualification?

94%oftherespondentshave difficulty

whenevaluatingaqualification

39%

35%

10%

8%

23

94%finditdifficult toevaluateaprofessionalqualification

18

3

50

29

%

Stronglyagree

Agree

Neutral


(78)

(27)

(51)

(19)

(4)

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Almost80%believeacommonbenchmarkraisesprofessionalstatusDoyouagreethatacommonqualificationbenchmark（通用資歷基準）helpstoraisepractitioners’professionalstatus?



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3

56

28

%

Stronglyagree

Agree

Neutral


Doyouagreethereisaneedtostreamlinetheprofessionaltrainingpath（精簡培訓路徑和安排）foremployees?

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84%ofrespondentssaytheneedtostreamlinetrainingpathisnecessary



Keyfactorsconsideredbyemployeesintrainingselectionprocess

Selectionfactors(Employees)

Relevancetoyourjob

Impactoncareeradvancement

Regulatoryrequirements

Impo

rtan

ceLe

vel

Fee

Supervisors’/Colleague’sRecommendationoftrainers

(81%)

(54%)

(46%)

(24%)

(17%)

(28%)Reputationoftrainingprovider


67%

82%

77%

20%

70%

49%

37%

28%

27%

23%

Whatfactorswouldyouconsiderimportantwhendecidingtotakeatrainingcourse?

é

é

Stageofsh

ortlisting

Stageofco

mpleting

transactions


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Top3externaltrainingsubjectsengaged

Risk&Compliance

AML/CFT

FinTechandCyberSecurity

58%(67%)

49%(N/A)

28%(22%)

27

Nearly60%receivetraininginRiskandCompliance

Risk&Compliancetopstheexternaltraininglist


17

2

48

34

%

%ofVerylikely/Somewhatlikely

Verylikely

Somewhatlikely

Neutral

Somewhatunlikely/Notlikelyatall

81 (82)

(37)

(45)

(15)

(3)

IstheIndustrydemandfortraininglikelytogrow?

28

Overhalfrespondentsareeagertoreceivemore externaltraining80%thinkdemandfortrainingisontherise


46

22

7

4

5

9

3

2

%

Risk&Compliance

FinTech&CyberSecurity

WealthManagement

Corporate/ CommercialBanking

CreditManagement

RetailBanking

RMB&ChinaInitiatives

Treasury

Whichofthefollowingdoyouthinkbanks&financialinstitutionsshouldfocusonasfarastrainingresourcesallocationisconcerned?

Primaryfocus

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Trainingresources:primaryfocus

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Keyareasofaction

ProvidemoretrainingonFinTech &cybersecurity

Engageyoungtalent

Streamlineprofessionaltrainingpath

Developnewskillsforfutureopportunities

Promotecommonqualificationbenchmark

Thankyou!

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AboutthesurveyCommissionedbytheHongKongInstituteofBankers(HKIB),theHKIB’sTalentDevelopmentSurveywasanonlinequestionnaireconductedbetweenMayandJuly2017byCimigo andParadigmConsulting.FindingsofthistalentdevelopmentsurveywillbeusedbyHKIBasareferencepointwhenshapingthefutureoftraininganddevelopmentforthebankingsector.

A report by The Hong Kong Institute of Bankers to ... · Commissioned by the Hong Kong Institute of...

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