Hong Kong Monetary Authority's human resources management and talent retention

¶ … Saudi Arabia\'s financial system and the economy at large, we are determined to learn from the best. HKMA is one of the best performing central banks in Asia. In 2008, your organisation was acknowledged as the best bank regulator in the Asian Banker Achievement Awards Programme. Eight years down the line, HKMA remains a leader in the region as far as bank regulation is concerned. Under the leadership of the former and founding chief executive Joseph Yam and the current Mr. Norman Chan, HKMA has become a world-class monetary authority, helping the country become a respected financial hub in the region. Notable areas the authority has excelled in include Basel III implementation, deposit protection, operational efficiency, innovation, technology integration, and macroeconomic stability.

Understandably, the achievements your organisation has made in the past one decade or so could not have come without a qualified and competent pool of human resources. Indeed, any organisation relies upon its human capital to achieve its strategic goals and objectives. Putting measures in place to attract and retain the best talent places an organisation in a better position to accomplish its mission and vision. Effective HR management is in fact a crucial source of competitive advantage in today\'s world. The achievement your organisation has registered evidently indicates your effectiveness in organising and managing the people aspect of the organisation. Notable HR areas you have performed commendably include employee recruitment, training and development, and work flexibility. We understand that, unlike other public sector employees, HKMA employees are employed under differentially so as to attract the best in terms of experience and expertise.

SAMA is positioning itself to be the top monetary authority in the Middle East. We are committed to strengthening our monetary policy, promoting the growth of our financial system, enhancing banking supervision, and accelerating economic growth as a whole. To achieve this we need competent individuals. We need to reinforce our human resource base. We need more effective and efficient structures, systems, and processes for managing our human resources. We must effectively attract and retain talent, build the skills and capabilities of our people, as well as reward and motivate them properly.