CCB in drive for right people
China Construction Bank (Asia) (CCB) is adhering to an extensive business and headcount expansion amid layoffs, downsizing and, in some cases, complete business meltdown in the financial sector, stemming from the choppiest operating environment financial institutions have encountered for a long time.
Miranda Kwok, director, executive vice-president and head of consumer banking group at China Construction Bank (Asia), said despite indications of a local and global economic slowdown the bank had no plans to change its expansion strategies. Ms Kwok said since Bank of America (Asia) was taken over by the China Construction Bank (Asia) Corporation in January last year, there had been a clear mandate from its parent company, China Construction Bank Corporation to increase CCB's commercial banking activities in Hong Kong.
In addition to the 22 branches and two Premier Select Centres in Hong Kong, by the end of the year, CCB plans to open at least seven branches. The network expansion plans also include opening a third Premier Select Centre in Hong Kong. CCB also operates five branches in Macau. CCB is planning to open 12 to 15 branches annually in Hong Kong over the next three years and expand its presence in Macau. CCB grew its headcount from about 900 staff to more than 1,200 last year and expects to continue increasing staff levels by 20 to 30 per cent annually as new branches are opened.
CCB is looking for talent at all levels ranging from frontline tellers, mid- and back-office staff, experienced banking and marketing professionals, fresh graduates and experienced wealth managers to look after high-net-worth clients. 'In this current market situation we are optimistic we can attract the right sort of people from the existing market and graduates who want to develop a career in banking,' Ms Kwok said.
Ms Kwok said greater emphasis would be placed on professionalism in the banking industry. She said one of the ways CCB maintained a 'customer first' approach was to maintain a balanced remuneration platform with bonus incentives forming only a small part of the salary package. 'If people are well-trained, remunerated fairly and work in a culture where the emphasis from the top down is on doing a professional job, it is easier to put the customers' needs first,' said Ms Kwok who was previously CCB's chief risk officer. As part of CCB's key performance objectives throughout the year, employees undergo a series of training and reinforcement programmes. Depending on each individual's job duties, training programmes focus on products, risk, how to handle customer complaints, compliance, service standards, delivery, and understanding customers' needs. 'Through our culture, training and appropriate pay system we make every effort to uphold professional standards,' Ms Kwok said.
She said as part of the search for quality employees, candidates underwent a rigorous interview process that included closely looking at experience, potential and past history. This could include previous experience working for competitors and commitment identified through professional qualifications such as the Certified Financial Adviser or Certified Financial Planner designation. In the case of fresh graduates, candidates with a degree in accounting, economics, mathematics, marketing and business studies were required.