Vast Opportunities in competitive banking sector

by Graduan.com.my

Richard Kong Mun Choy, Chief Human Resource Officer of Affin Bank explains why the local banking industry remains an excellent place to build a challenging, fulfilling career.

Richard Kong Mun Choy, Chief Human Resource Officer of Affin Bank Berhad, believes competition in the banking industry will intensify in the future. “That’s a good sign because it indicates the health of the industry. It also means that banks have stronger capacities for product innovation and are able to recruit candidates who have skills that are valuable to the industry.”

As the industry undergoes further liberalisation, domestic banks will find they are no longer competing just among themselves, but with foreign counterparts. In addition, with the small size of the Malaysian market, domestic banks have to look abroad for further growth.

Affin Bank has formed a strategic partnership with the Bank of East Asia (BEA) via its parent Affin Holdings Bhd and is looking to start Islamic banking operations in China. Incorporated in 1975, Affin Bank is a wholly-owned subsidiary of Affin Holdings Berhad, which is listed on Bursa Malaysia. With a network of 88 branches nationwide, the bank serves both retail and corporate customers. Affin Islamic Bank Berhad was incorporated in 2005 and offers a full range of Syariahcompliant products and services.

Islamic banking has also seen robust expansion and growing interest despite taking off only about four years ago. Competition is heating up in this segment because foreign banks are now allowed to set up their own stand-alone Islamic banks.

“We see Islamic banking as an important anchor and one where Affin Islamic Bank will

CUSTOMER IS KING

Despite the fast-evolving nature of banking in Malaysia, one thing will never change: maintaining good relations with customers. Banking is about enhancing the quality of service to ensure that customers return, to buy or to learn about new products and services.

“In our competitive banking market, good relations with customers have become a higher priority than ever before. Consequently, career prospects are good,” says Richard. In corporate banking, the Relationship Manager (RM) establishes, maintains and enhances the bond with corporate clients, understands their banking and financing needs, knows the intricacies of various industries, and provides timely advice to help business people make the right financing decisions so that their business can grow and prosper.

An excellent RM has in-depth knowledge of a bank’s financial products and services to meet clients’ needs and requirements. Excellent interpersonal and communications skills are important, as well as the ability to network.

In consumer banking, Branch Managers, Officers and Customer Service personnel provide the front-line friendly faces of the bank. They are also the custodians of the bank’s image and service standards.

According to Richard, “customer service is of utmost importance for those who aspire to work in consumer banking. Their ability to deal with customers directly and professionally will determine the growth of consumer banking. Customers who get pleasant, personalised services with the bank will become loyal and, consequently, share their experiences with other potential customers.”

A key position in consumer banking is the Sales Executive, who helps promote products such as credit cards, unit trusts, housing loans and debit cards. Others specialise in wealth management products. A career in sales requires good customer service and interpersonal skills, perseverance and commitment. A passion for sales and in-depth knowledge of financial products and services will make convincing clients an interesting and exciting task.

THE NEW EMPLOYMENT LANDSCAPE

Richard believes the demand for good talent will continue despite the global financial crisis. “There is shortage of talent in every industry in Malaysia and the banking industry is not spared. The shortage is particularly acute in revenuegenerating areas, namely sales and marketing, credit wealth management, relationship management and Islamic banking. “Graduates must change their mindsets and be prepared to work on various tasks and assignments, instead of what is written down in their job description. They must be flexible, versatile, customer-oriented and business savvy to meet challenges, not just those faced during an economic slowdown.”

Career opportunities are plentiful even for candidates who do not have a Finance or Business degree. What is more important is that graduates build their capabilities by identifying and leveraging on their strengths, while understanding the areas they are weak in and striving to overcome those weaknesses.

“Employers look for candidates who can set goals and targets for improvement, either in their tasks or as part of a team or department.

Candidates who can think out of the box and are able to find solutions to problems are highly valued. When these skills are combined with prior work experience acquired during vacation or part–time work, such candidates are valuable to any organisation.”

BANKING ON A BRIGHT FUTURE

A career in banking can become a steppingstone to many opportunities, be it in financial services or other industries as banking combines formal and informal training.

“The banking industry provides a snapshot of the health of all economic activities. So, in many ways, this is a very exciting industry and opens up a whole new world of experience that graduates can learn, to meet people, gain knowledge and so on. After all, banks are the engines of economic growth,” says Richard. “At Affin Bank, staff development is a core strategy. We adopt a concerted, integrated approach in our training and development programmes so that employees have all-round capabilities and grow their strengths. Equal emphasis is placed on soft skills and emotional intelligence as well as technical competencies.”

Affin Bank’s Talent Development Programme is aimed at developing new talents from diverse academic backgrounds. The programme is a comprehensive learning experience and encompasses workshops, case studies and internships.

Candidates learn various aspects of banking, from core financial products and services to support services such as treasury, credit and so on. Once they have completed the programme, they are given the option to choose a field to specialise in.

Apart from technical training and exposure, the programme also provides opportunities for personal development as it focuses on imparting related skills and competencies. In addition, the best trainees are identified and put into special talent development programmes to hone their skills further.

“Employees who are well-trained will be committed and engaged to strive to excel, thereby improving business performance. We view training programmes as a valuable investment in our employees,” says Richard. “It is like a form of reward and appreciation, and a wonderful way to motivate through learning and education. Affin Bank subscribes to the concept of life-long training because it will produce the best talents and ensure business sustainability.”