Muhammad bin Ibrahim: Talent management – sustaining dynamic economic growth and development in Malaysia Keynote address by Mr Muhammad bin Ibrahim, Deputy Governor of the Central Bank of Malaysia (Bank Negara Malaysia), at the HR Knowledge Bazaar, organised by the Asian Institute of Chartered Bankers, Kuala Lumpur, 22 April 2015. *  *  *  Thank you for giving me the opportunity to speak at this HR Knowledge Bazaar 2015, organised by the Asian Institute of Chartered Bankers (AICB). The theme chosen for this conference “Talent Management 2020 for Superior Business Performance” is both timely and relevant in sustaining the dynamism of our economic growth and development. It rightly accords the recognition that talent management is the key factor in determining the health and prospect of a particular business. I will touch on a number of issues which to my mind have significance to the topics that the conference will deliberate. Retaining top talent will be increasingly challenging as the economy expands, and demand for talent will come from many sectors. With the ASEAN economy expected to grow steadily over the next decade following enhanced economic and financial integration, the competition for talent will intensify. For ready-made talent, in particular, the competition will be fierce and will be compounded by the fact that mobility for this group is high. While mobility presents an opportunity for career advancement at the individual level, at the macro level, it could potentially and adversely impact the economy, if not managed appropriately.

Third, is to raise the quality of learning programs offered to financial practitioners in the country. This task was given to the Financial Accreditation Agency. The FAA has successfully launched the Finance Qualification Structure and FAA Learning Standards in September 2014. The Learning Standards will promote minimum standards in designing, developing and delivering learning programs. The Finance Qualification Structure will help to map professional qualification into a single framework that employers can use to compare and account for an employee’s prior learning. Ultimately, it will create seamless mobility for financial services practitioners to move across the industry within the financial sector. Another initiative conceptualised in 2014 and will be introduced in 2015 is the Financial Institutions Directors’ Education programme in Islamic Finance and Shariah Leaders Education Programme. These learning interventions are specifically designed to broaden the perspective of directors and shariah scholars on emerging opportunities in Islamic Finance, while equipping them with the necessary technical knowledge and skill sets. Offered at the ICLIFLeadership and Governance Centre, the programs will deploy proven learning methodologies and approaches. The industry has also done their part in transforming the financial services education landscape. The AICB and the Asian Banking School, the newly established entities created as a result from IBBM’s transformation in 2014, are committed to creating a greater brand identity through the offering of industry-focused professional examinations, qualifications and awards which are in tune with the evolving landscape of the financial sector. Of significance is the Chartered Banker Qualification.