to ensure it is future - ready. as i have said before, " the code is a cornerstone of consumer protection in financial services in ireland, establishing a set of rules and expectations for how firms should treat their customers and has allowed the central bank to intervene to protect consumers. " the changes we have proposed build on the existing code, reflecting the provision of financial services in a digital world. 1 / 3 bis - central bankers'speeches we have had very active and important engagement with stakeholders on the code, with feedback coming through from across industry, civil society and other government agencies and regulators, as well as from the minister for finance. the feedback we have received has been broadly positive with many stakeholders welcoming the proposals. we are aiming to publish the revised code early in the new year. when implemented, consumers will benefit from a package of protections that reflect how they are accessing financial services today. regulated firms will benefit from a clearer articulation of their code obligations. as you know, we are also making changes to our supervisory model, which we will begin to implement in january. the new model remains risk - based, but is evolving to deliver a more integrated approach drawing on all elements of our mandate ( consumer and investor protection, safety and soundness, financial stability and integrity of the system ). this enhanced approach is based on accumulated experience, on insight, on best practice and is built for a faster moving and more complex financial services sector. firms will hear one consistent voice from the bank, with more coordinated messaging and more streamlined demands across the full span of our regulatory and supervisory mandate. we will promote a more open and transparent supervisory approach. to enable and implement our new supervisory framework we need the right operational approach and organisational structure. we are moving to an organisational structure where our regulatory and supervisory directorates will have teams responsible for integrated supervision across all our regulatory outcomes. importantly, our supervisory model will place consumer protection at the heart of day - today supervision. it will position us better as an organisation to meet our objectives to ensure consumers of financial services are protected in this changing financial landscape, as highlighted by the oecd report. this is why this review by the oecd is so important, as it provides us with recommendations and insights that will support our ambition to transform and will be incorporated into our transformed supervisory approach. the oecd's assessment that the central bank is operating in line with the high level principles is very positive. we also welcome the recommendations on how

credit underwriting, reducing demand for certain roles such as bank tellers, while increasing demand for technical jobs such as data scientists and programmers. these trends are not confined to those in finance but across industries. however, i would caution against us falling into the turing trap – or automation bias – where technology is viewed as replacement for humans. instead, as we have seen throughout history, while technology and innovation would inevitably displace some jobs, it will also often be accompanied by creation of new and better jobs. as such, the role of policy is three - fold : one, encourage technological investments to improve overall productivity and competitiveness. two, ensure that such investments yield high - paying job opportunities. three, invest in re - skilling and up - skilling efforts so that malaysians can seize those opportunities. as the nature of work changes, so must our workforce. malaysians should be provided with opportunities to continuously retool themselves throughout their career, in response to evolving demands. while the government and academia have roles to play, i also believe that industry should take greater ownership of forward - looking reskilling initiatives. an example of this is the financial industry - driven future skills framework ( fsf ) initiative led by the asian institute of chartered bankers ( aicb ). financial sector talents are future - proofed through reskilling and upskilling interventions. as an organisation, bnm has also invested deeply in upskilling our workforce. by partnering with global 2 / 3 bis - central bankers'speeches technology leaders, we bring advanced expertise to our staff, providing them hands - on experience with transformative tools. our goal is to equip our people not just to meet today's challenges but to shape the future of finance and economic policies. apart from investing in our adaptive capabilities, we must also protect those who may be vulnerable to these changes. we recognise that not everyone is equally prepared or able to keep up with the sweeping changes of technological waves. it is our duty to provide a safety net so that they do not get left too far behind. an important part of this safety net is the active labour market policies to help disadvantaged individuals re - enter the workforce on a much stronger footing. these policies are crucial to partially mitigate the inequality impacts that technological disruptions could create. the constant tension between technological progress and the nature of jobs is not new – and it is here to stay. from automotive displacing horse carriages to emails and texts displa