TABF and BAROC launch 2021 Leading Executive Apex Program (LEAP) and International Financial Talent Cultivation Program (ITDP)July 15, 2021
The Taiwan Academy of Banking and Finance (TABF) and the Bankers Association of the Republic of China (BAROC) work together to cultivate financial industry expertise in Taiwan’s financial community, including through training programs. On July 2, TABF and BAROC launched the 2021 Leading Executive Apex Program (LEAP) and International Talent Development Program (ITDP).
By Liao Ho-ming
The Leading Executive Apex Program (LEAP) was established in 2011, and the International Financial Talent Cultivation Program (ITDP) in 2009. Since their establishment, both programs have helped Taiwan’s financial professionals enhance their industry expertise. This year, due to the coronavirus pandemic, the programs were held virtually. VIP guests spoke at both events.
Hsu Yung-chin, Vice Chairperson of the Financial Supervisory Commission (FSC), pointed out that the FSC encourages the cultivation of expertise in the financial sector, hoping to boost its capabilities in industry segments such as wealth management and fintech, while enhancing its international outlook. Therefore, in 2020 the FSC promulgated the Regulations Governing Banks Handling Financial Products and Services for High Asset Customers (Wealth Management 2.0)" and FinTech Development Roadmap, hoping to expand the scale of Taiwan’s financial management and continue to promote the development of financial technology.
Cultivating talent in the financial industry is crucial. The FSC encourages the industry to incorporate Taiwan’s Bilingual Nation policy into its talent cultivation efforts. For instance, it encourages banks and universities to launch joint master’s courses, and also hopes that TABF and BAROC will plan a professional school for the financial industry that will focus on stronger international competitiveness. Talent is the most important factor in the financial industry’s long-term development.
Lee Ching-hua, Administrative Deputy Minister of Finance, pointed out that the pandemic has affected the industry’s production model, while monetary policy is loose globally and the market is changing rapidly. Thus, to break through barriers, the financial industry must continuously innovate, and cultivate talent. Deputy Minister Lee added that the International Financial Talent Cultivation Program (ITDP), through various courses, can help cultivate forward-looking financial industry professionals with an international perspective, promote financial innovation, and strengthen the competitiveness of Taiwan’s financial sector.
BAROC chairman Lu Ju-cheng emphasized that the banking industry is the lifeblood of the real economy, and the driving force behind industrial development. The banking industry is also a people-oriented industry, necessitating continuous training to cultivate outstanding professional talent through programs such as LEAP and ITDP, Lu said.
The LEAP program is a flagship training course for senior bank executives that aims to cultivate the next generation of industry leadership, said Chang Yi-chun, deputy director of TABF’s Financial Training and Development Center. Since the program was established in 2011, 327 outstanding senior executives have been cultivated, and seven graduates of the program have been promoted to chairman and general manager positions. The courses emphasize interaction among participants. TABF and BAROC hope that graduates of the program can share their experiences with one another.
The 2021 program, which will be completed over a six-month period, focuses on important future trends in Taiwan’s financial industry, with the exploration of financial management reform and innovation transformation as the core themes. The three modules of "Leadership,” "Strategy" and "Technology" will be structured as study courses, group strategy topics and overseas visits and study activities. Through multiple seminar activities, participants in the program will develop their leadership, strategy and technology skills.
Participants in the program are carefully selected based on their potential to hold leadership positions in Taiwan’s financial industry in the future. Many are personally selected by the chairmen and general managers of banks. The chairman of the FSC is invited to attend the program every year as are senior executives from banks, who share their vast financial industry expertise with the participants.
There are 21 institutions participating in the training this year, including publicly listed banks, privately held banks and the Central Bank. Prior to 2020, the program included overseas travel. Once again in 2021, due to the pandemic, the program will be held entirely in Taiwan. It will include both online and offline components. Regarding the International Financial Talent Cultivation Program (ITDP), Chen Ti-chen, deputy director of TABF’s Overseas Business Development Center, emphasized that this program is a platform for the training and exchange of middle-level managers in banks. Each year, specific key financial business areas will be selected as the main topic of discussion. This year's focus is "high-end customer wealth management.”
This year’s program focuses on five themes: "Foreseeing Wealth Management Business Trends", "Product R&D and Investment Portfolio", "Business System and Risk Control", "UX-Oriented Innovation Services" and "Team Communication and Business Negotiation. " The program includes diverse learning activities, among them group case simulation exercises, team consensus camp activities, and final special reports.
Since its inception in 2009, the International Financial Talent Cultivation Program (ITDP) has cultivated 512 business management professionals. A quarter of them have served as mid- and senior-level bank executives, department heads, and vice presidents. The themes of the International Financial Talent Cultivation Program (ITDP) over the years have focused on improving international competitiveness, and strengthening capabilities in retail banking, corporate finance, and wealth management.
From 2009 to 2013, the programs focused on corporate finance and wealth management in financial business, and from 2014 to 2019, the focus was on overseas talents. In 2020 and 2021, the theme has returned to financial business, especially Financial Management 2.0 promoted by TABF. The development of wealth management business in terms of strategy, business model, management and product services will create new breakthroughs for the industry.