Talent development in the financial services industry is key in promoting a well-functioning and stable financial sector. Bank Negara Malaysia (BNM), for many years, have embarked on wide ranging strategies to strengthen talent development in the financial services sector with several institutional entities formed for this purpose. One such entity is the Financial Sector Talent Enrichment Programme (FSTEP).
Started in 2007, FSTEP is the brainchild of former BNM Governor Tan Sri Dato Sri’ Dr. Zeti Akhtar Aziz and is managed by the Asian Banking School (ABS) in collaboration with BNM. It is entrusted with equipping talents with the right skills and knowledge for their transition into the financial services industry. An industry-driven initiative, it is the aim of FSTEP to be a bridge that connects the needs of the industry with the talents produced by institutions of higher learning. Beyond that, it is believed that with the right training, exposure and experience, graduates of FSTEP can be put into positions of responsibility over the long term and possibly go on to form the pool of future leaders and senior management for the financial services industry. FSTEP provides a 3-month comprehensive and interactive classroom training followed by a 9-month on-the-job training with the respective sponsoring financial institutions, with a minimum monthly allowance of RM2,600 throughout the 12-month programme.
The ASIAN BANKING SCHOOL (ABS) is dedicated to developing talent and is the largest specialised provider of quality banking training programmes in the ASEAN region. As the industry’s preferred partner in learning and development, ABS offers relevant training programmes that cover a comprehensive list of banking areas that are designed and developed in-house by our Specialist Training Consultancy Team or in collaboration with strategic learning partners that includes some of the top business schools in the world. It also provides specialised consulting services and tailored learning solutions to meet the specific needs of its clients.
Through its sector-leading Executive Education programmes including the ground-breaking Global Banking Leaders Programme with Cass Business School, City, University of London, as well as the Emerging Banking Leaders and Summer School Programmes with the University of Cambridge Judge Business School, ABS equips banks and its senior executives with the right knowledge to take them up and move them forward. ABS works closely with the Asian Institute of Chartered Bankers in raising competency standards for the banking industry through the delivery of training workshops related to professional qualifications developed and awarded by the professional body. It is also the exclusive training partner for the Chartered Banker Institute in the UK. Guided by the transformation blueprint for the Malaysian banking education landscape, it is the aim of ABS to innovate the approach of developing talent, and in turn raise the calibre and dynamism of professionals in the industry.