Compliance changes, rapid adoption of new technologies, and the rise of Sharia in banking are just some of the trends taking place within the Banking & Financial Services industries in Malaysia. We interviewed one of our senior candidates to get his take on the impact of these changes and how professionals can ready themselves to remain competitive in the market.
Tell us about your current role and how you came across this opportunity.
I am currently the Chief Internal Auditor at a Government-owned bank in Malaysia. I was appointed through internal promotion (succession planning).
How do you see yourself developing/potentially developing this career move? In what way has Ambition helped you in your journey as a Banking & Financial Services professional?
Through this role, I was able to develop myself more on the strategic and leadership front, picking up skills such as planning, organizing, leading, and controlling. Ambition helped me in terms of searching for opportunities that match my experience, knowledge, and education.
What are the growing trends that you observe in Banking & Financial Services? How can professionals in this space prepare themselves for these changes (i.e. any key skills they should pick up, any areas that are growing or becoming obsolete)?
I’ve seen two growing trends, namely rapid technological advancements and the rise of Sharia in banking. Professionals should continuously acquire knowledge and pick up relevant new skills through specific training and keeping themselves updated on industry changes.
Personally, how do you stay abreast on the latest changes within Banking & Financial Services?
I keep up-to-date by attending networking events, and one way I do that is through the Certified Internal Auditor (CIA) networking groups. The conversations that I have at these networking sessions help me find out what the current trends and latest industry updates are. I am also a member of the Institute of Internal Auditors Malaysia (IIAM) and Asian Institute of Chartered Bankers (AICB), and this allows me to receive their journals and magazines. It is important to be proactive and leverage such networks to get critical information.
Could you share with us a bit more about the challenges and highlights of your career?
There are a couple of challenges that I face throughout my career. Currently, it’s keeping abreast with the dynamic changes in technology, keeping up-to-date on the compliance changes by Bank Negara Malaysia (BNM) and internal factors within my organization. With more challenges, there is greater opportunity for the generation of ideas and remedial action to build up internal frameworks, structured training and creating a more systematic approach through the use of systems.
What is the biggest learning that you’ve taken away during your time as a Banking & Financial Services professional?
Given the nature of banking, I would say that my biggest learning would be upholding integrity and carrying out acts of fiduciary duty.