In order to support capacity building and talent development, the HKMA is working with the banking industry and relevant professional bodies to implement an industry-wide Enhanced Competency Framework (ECF) for Banking Practitioners. The ECF is one of the HKMA’s measures to enhance the risk management capability of banks. The availability of a set of common and transparent competency standards enables more effective training for new entrants and professional development for existing practitioners, which is conducive to maintaining the competitiveness of Hong Kong as an international financial centre.
Whilst the ECF is not a mandatory licensing regime, banks are strongly encouraged to adopt it as the benchmark for enhancing the level of core competence and on-going professional development of banking practitioners.
Currently, the HKMA has launched nine ECF modules covering different professional workstreams*. The module on Green and Sustainable Finance is being developed and will be launched in due course.
Please click the graph above for more information about each professional area.
*The Government has also devised the Specification of Competency Standards in respect of key functional areas of the banking industry. The details can be found in the website of the Qualifications Framework.
Relevant practitioners may be exempted from specified modules based on completion of eligible training programmes. The detailed lists of eligible training programmes for modular exemption are as follows:
An accreditation mechanism is established for interested banks or education and training operators to have their learning programmes of the below specified ECF modules accredited as meeting the ECF standards (including but not limited to the Qualifications Framework Standards). Applicants can refer to the detailed application procedures for completing the ECF accreditation of the learning programmes: