will be availed with the potential of positioning bis central bankers ’ speeches themselves ahead in the race of being asia ’ s premier banking player, and even position themselves as global force. to move markets into the next phase of growth, financial institutions must be willing to innovate and improve offerings in new growth segments. this has to be supported by good risk and capital management practices, or even develop entirely new skills to embrace new technology and business models. moreover, asia ’ s local banks with the aspiration to expand their regional or global footprint will need to develop talent to enhance their capacity and capabilities to compete beyond borders. this changing landscape should see the level of technical expertise, and skilled resources in the industry advance to new heights. the rapid pace with which change is occurring is not only demanding shorter time to competence, but also heightening demand for professionals with a broader range of skills including leadership and interpersonal skills as well as global business acumen. it is with this in mind that we advocate for professional development standards to be raised. it is clear that a transformation strategy endeavor for any nation, industry or organization, cannot be achieved without the right quality of human capital. this is particularly the case for banking as a knowledge dominated industry. capacity building programs to mould and generate the right skills, mindsets and values consistent with changing market dynamics will be the key success factors. it is therefore imperative for learning institutions around the region to continue to review and update their respective syllabus, contents and learning methodologies and ensure that education remain relevant and effective in meeting the talent needs in the region. on this note, i commend the commitment of the institute of bankers malaysia ( ibbm ) to transform from ; a provider of courses to a facilitator of professional education, from a consumer to a producer of intellectual capital, and from a national to a regional, or perhaps as a global service provider. we are now looking at a new landscape for our banking education infrastructure and plan to announce soon on the developments and delivery of a broad range of industry programmes that will embrace professional standards that are more applied and reflective of the times. it might include multi - disciplinary research that covers areas such as thought leadership, publications and flagship conferences. we aspire the transformation of ibbm into a forwardlooking, world - class provider in the development of professionals for the dynamic financial sector. the transformation of ibbm represents part of an overall capacity building and infrastructural development efforts to

- specific training to meet the industry requirements, and equip practitioners with the practical knowledge, skills and expertise that are important to their respective job functions. malaysia ’ s financial sector has continued to forge ahead. the contribution of the financial industry to the country ’ s gdp has increased from 9. 2 % in the year 2000 to 11. 7 % in 2009 and this figure is expected to grow further in time. likewise, the employment growth in the financial sector will continue to accelerate, with increasing demands for specialised skills and enhanced expertise in finance. in the fast changing and increasingly complex financial landscape, our workforce in the financial sector must not only rise above current challenges, but must be well equipped to excel in the significantly changed environment. in malaysia, we have prioritised talent development in the financial sector as a strategic priority and to approach this in a holistic manner, across the spectrum of the financial services industry. the goal is to develop a deep pool of financial sector talent with world class capabilities to drive responsible growth and development of the financial sector. as many of the initiatives supporting these strategies are multi - disciplinary and multi - layered, the approach is grounded in a shared commitment with the industry in a comprehensive, coordinated and collaborative manner. this is our best hope for rising confidently to the human capital challenge that lies before us. with the strong support of all the key stakeholders and practitioners in the industry, we can make a critical and lasting contribution towards creating a talented workforce for the industry. in this journey, the sharing of best practices and experiences will be extremely valuable. i therefore welcome and encourage your participation at this international symposium to discuss the important issues, challenges and the way forward in talent development for the financial services industry. on this note, i wish you a successful and productive session. bis central bankers ’ speeches