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|Issue #113 (Jul - Aug 2020)
Hong Kong Dollar—The Most Stable and the Most Trustworthy Currency in the World
Envisaging a Cross-border Data-driven Future
Evolution of Business Continuity Plan
In any crisis, emergency, or pandemic, like the COVID-19 coronavirus the world is currently experiencing, it is vital that banks have a comprehensive business continuity plan in place to protect the well-being of employees, minimise disruption, and continue to provide vital services to customers. It is generally accepted that before the outbreak of Severe Acute Respiratory Syndrome (SARS) in 2003, beyond a simple back-up site, many of Hong Kong’s banks did not have a comprehensive business continuity plan in place. However, SARS changed the rules of the game as far as business continuity planning was concerned, which the current coronavirus pandemic has made even more relevant. These days, evolving from the basic back-up site, banks in Hong Kong have implemented a range of business continuity initiatives.
Talent Development Programme Designed to Nurture a New Crop of Banking Talent
With Hong Kong’s Class of 2020 facing an uncertain job market, one bright spot on the job landscape is the launch of the innovative Banking Talent Programme designed to provide fresh university graduates with real-world of work employment experiences and professional training opportunities. Jointly launched by the Hong Kong Monetary Authority (HKMA) and the banking industry, with The Hong Kong Institute of Bankers (HKIB) as the Programme Administrator, the Banking Talent Programme (BTP) has been structured to nurture young talent for the industry, while providing participants with an opportunity to better prepare for future careers in the banking sector.
Implementing Proactive Response Strategies to COVID- People and Business Challenges
As generation-defining events go, in a matter of just a few months, the fallout from the COVID-19 pandemic has resulted in the rapid transformation of the workplace and how work is done. Working from home — at least for many bank employees — has become the new normal, while digitising the relationship between bank and customer has been extended to include the relationship between employer and employee. As the COVID-19 pandemic resets work trends with practices put in place that are likely to become permanent, banks can respond to the challenge through reshaping their workforce norms and culture to come out stronger than previously.