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Careers at Bank Negara Malaysia

By Encik Kamari Zaman Juhari

Director, Human Resource Management Department 27th November 2007 ­ Cairo, Egypt

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Preview

1. Bank Negara Malaysia in a nutshell 2. "DNA" of the people in Bank Negara Malaysia 3. Choosing Bank Negara Malaysia

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Our Mission

"Bank Negara Malaysia as a central bank, is committed to excellence in promoting monetary and financial system stability & fostering a sound and progressive financial sector, to achieve sustained economic growth for the benefit of the nation"

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Our Uniqueness

An organization with a strong tradition of professional excellence Creates an environment for economic and financial prosperity A knowledge-based and performance-driven organisation

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Our Roles

Environment Shaper Regulator & Supervisor

· · · · · · ·

Preserve the domestic and external value of the currency Ensure efficient mobilisation of resources and the provision of financing to support growth & development Maintain stability of the financial system Promote the development of an effective financial system Promote an effective and efficient payments system Manage the international reserves effectively Act as economic and financial advisor to the Government Advisor Driver Operator

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Our Organisation Structure

BOARD OF DIRECTORS GOVERNOR

3 DEPUTY GOVERNORS 6 ASSISTANT GOVERNORS

PARLIAMENT & Minister of Finance

ECONOMICS

INVESTMENT & OPERATIONS

ORGANISATIONAL SUPPORT

SUPERVISION

REGULATION

Total Departments: 34 Total Staff: Approx. 2500

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Our Functions

ECONOMICS INVESTMENT ORGANISATION SUPPORT · · · · · · · · · LEGAL IT SERVICES FINANCE HR MGMT. HR DEVELOPMENT STRATEGIC MGMT. STATISTICAL SVCS RISK MGMT CORPORATE SERVICES · SECURITY · PROPERTY & SERVICES REGULATION SUPERVISION

· ECONOMICS · INTERNATIONAL · MONETARY ASSESSMENT & STRATEGY

· INVESTMENT OPERATIONS & FINANCIAL MARKET · FOREIGN EXCHANGE ADMINISTRATION · CURRENCY MGMT. & OPERATIONS

· FINANCIAL SECTOR DEVT. · FINANCIAL SURVEILLANCE · PRUDENTIAL FINANCIAL POLICY · CONSUMER & MARKET CONDUCT · ISLAMIC BANKING & TAKAFUL · DEVELOPMENT FINANCE & ENTERPRISE

· FINANCIAL CONGLOMERATES SUPERVISION · BANKING SUPERVISION · INSURANCE & TAKAFUL SUPERVISION · IT & DFI SUPERVISION · PAYMENT SYSTEMS POLICY

OTHERS

· CORPORATE COMMUNICATION · INTERNAL AUDIT

· FINANCIAL INTELLIGENCE · SPECIAL INVESTIGATION

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Making Our Global Presence Felt ...

· · · · · ·

Recognition

Best Central Bank in the Islamic Finance News 2006 & 2005 Best Islamic Banks Poll Grade "A" for fifth consecutive year­ 2007 Central Banker Report Cards by Global Finance Magazine Central Banker of the Year Award by Euromoney in 2005 Global Central Bank Governor 2004 by The Banker magazines Best Central Bank Governor in Asia in 2003 by Emerging Markets magazine Technology Business Review (TBR) recognised Bank Negara Malaysia with the 2007 Merit Award for Government Agencies

· ICLIF ­ The International Centre for Leadership in · ·

Finance The 8th Annual Corporate University Awards for Excellence & Innovation in Corporate Learning (2006) Knowledge Management Centre ­ Special Award for Library Transformation, Excellent Library Award 2005

Building the Leaders

Positioning Malaysia as a premier and dynamic international Islamic financial hub

MIFC

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Making Our Global Presence Felt ...

Positioning Malaysia as a premier and dynamic international Islamic financial hub

IFSB ­ The Islamic Financial Services Board

- An international-standard setting body of regulatory and supervisory agencies that have vested interest in ensuring the stability of the Islamic financial services industry

MIFC ­ Malaysia as an International Islamic Financial Centre

- An initiative that is aimed at making the country a centre of origination, distribution and trading of Islamic financial instruments

INCEIF ­ The International Centre for

Education in Islamic Finance

- To produce high calibre professionals for the global Islamic financial services industry through professional certification programmes.

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Preview

1. Bank Negara Malaysia in a nutshell 2. "DNA" of the people in Bank Negara Malaysia 3. Choosing Bank Negara Malaysia

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Our Core Shared Values

Promote highest standards of professionalism and integrity by upholding personal & corporate ethics. Create a respectful and caring environment. We consistently ensure the best of intention, attitude, behaviours, thoughts, words and action. Value and respect differences ­ experience and contributions, irrespective of personal differences, knowledge and wisdom. Fully aware and sensitive towards different stakeholders' needs, and flexible in addressing these differences. Proactively seek knowledge and be innovative in the way we think, and in our actions to achieve our goals Create an environment that supports the achievement of high performance. Stretch ourselves to achieve high, but achievable goals.

EXCELLENCE

Uphold the Bank's objectives and mission by having clear understanding and ownership of the Bank's vision and objectives.

Continuously seek for knowledge and experience to become the source of reference. Inspire confidence in others with our knowledge and actions, and our ability to anticipate changes in the industry. Act in the nation's interest by becoming the trusted advisor, and without regard for profit consideration.

INTEGRITY

Respect for DIVERSITY

AUTHORITATIVE

I-ACTED

COLLABORATION

United in our purpose in achieving the Bank's vision and objectives.

TRUST

Foster collaboration and sharing of knowledge in all that we do.

Create trust by consistently being reliable, dependable and transparent in our actions, and by giving others the benefit of the doubt. Trustworthy in our actions. We are entrusted to advise the nation, and manage its resources honorably and responsibly.

Align individual contributions with the teams', and ultimately the Bank' objectives.

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Our Formula of Success ...

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Preview

1. Bank Negara Malaysia in a nutshell 2. "DNA" of the people in Bank Negara Malaysia 3. Choosing Bank Negara Malaysia

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BNM is for you ...

· Perception of the Value of Work · Challenge/Interest · A sense of Achievement · Freedom & Autonomy · Intellectually Stimulating Assignments · Quality of Work Relationships

· Competitive Pay · Benefits · Performance Differentiated · Timely Recognition · Physical Environment e.g. FSRC, clubhouse · Technology & Systems · Information & Processes · Safety/ Personal Security

Quality of Work Tangible Tangible Tangible Rewards Rewards

Rewards

· Supportive Environment e.g. wellness & healthy lifestyle

Work/Life Balance Work/Life

Balance

· Flexibility e.g. work from home · Security of Income

Enabling Environment Future Growth/ Opportunity

Enabling

Inspiration/

Values

Inspiration/ Values Inspiration/

Values

· Quality of Leadership · Organisation Values · Reputation of Organisation · Communication Platform

· Continuous Learning & Development e.g. on the job training, training, scholarship, e-learning, cross functional projects · Career Advancement e.g. promotion, attachment, secondment, job rotation · Performance Feedback

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Bringing Out the Best in You ...

7 ­ 15 years

Managerial Ladder

Management Management Director Director

Technical Ladder

Principle Authority Principle Authority

Deputy Director Deputy Director

Senior Specialist Senior Specialist

Manager Manager

Specialist Specialist

· RM2,941.00 with Degree · RM3,382.00 with Master · RM5,882.00 with PhD

Senior Executive Senior Executive

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Our Assessment

Shortlist

Assessment

Approval

Offer

· Relevant Academic · ·

Qualification Min. CGPA of 3.00 or 2nd Class Upper Credit in Bahasa & English at SPM level

· Preliminary Interview · Suitability Profiling · Essay Writing · Presentation · Final Interview

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Career Opportunities in Jabatan Perbankan Islam & Takaful

By Ustaz Suhaimi Mohd Yusof

Manager, Islamic Banking & Takaful Department ­ Bank Negara Malaysia 27th November 2007 ­ Cairo, Egypt

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OUTLINE

Islamic Banking and Takaful Department History Mission Organisational Structure Shariah : Main Functions / Roles Overview of the Islamic financial system Financial Sector Master Plan Key Initiatives

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HISTORY OF JPIT

Established as an Islamic Desk in 1990 ­ at JOPPK Upgraded into a section in 1994 and moved to JPB October 2000 - Islamic Banking Section in JPB merged with Takaful Section in JPI to form JPIT Responsible to implement FSMP initiatives and in positioning Malaysia as an Islamic financial centre

Islamic Banking Section Jabatan Pengawalan Bank

Takaful Section Jabatan Pengawalan Insurans

Jabatan Perbankan Islam & Takaful

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MISSION OF JPIT

".....to create an efficient, progressive and comprehensive Islamic financial system that contributes significantly to the effectiveness and efficiency of the Malaysian financial sector...."

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STRATEGIC DIRECTION OF JPIT

To develop the infrastructure of Islamic Banking and Takaful industry · Formulate and implement the FSMP recommendations · Map-up strategic direction of Islamic banking and finance in the country ­ position Malaysia as Islamic financial centre · Establish sound legal and Shariah infrastructure · Enhance consumer education and awareness · Provide training and technical assistance to external parties To promote and safeguard the stability of the Islamic financial system · Institute regulatory and prudential policies for the orderly development of Islamic financial industry · Monitor financial condition of Islamic regulatees to ensure compliance with the law, regulations and guidelines · Promote best industry practices and instill sound credit culture among Islamic banking players and takaful operators

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ORGANISATIONAL STRUCTURE OF JPIT

DIRECTOR

SHARIAH

MIFC

TI

FID

PPD-IB

PPD-TAKAFUL

SALE CONTRACTS IJARAH

BUSINESS DEVELOPMENT

STRATEGIC AFFAIRS MIFC SECRETARIAT COMPETATIVE & MARKET INTELLIGENCE EVENTS & PUBLICATION STRATEGIC PLANNING SPECIAL PROJECTS

ISLAMIC FINANCIAL INSTITUTIONS MARKET STRUCTURE ISLAMIC FINANCIAL MARKET

CONTRACTUAL RISK ISLAMIC CAPITAL ADEQUACY FRAMEWORK

FAMILY TAKAFUL FRAMEWORK GENERAL TAKAFUL FRAMEWORK

SOLVENCY & CAPITAL ADEQUACY FRAMEWORK

MENA & AFRICA PARTNERSHIP ASIA SUPPORT CONTRACTS

EU & US

ROR & LIQUIDITY FRAMEWORK INTERNATIONAL CURRENCY BUSINESS

INTERNATIONAL CURRENCY BUSINESS

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SHARIAH : MAIN FUNCTIONS / ROLES

SHARIAH

Current

Secretariat

Shariah policies

Product review

Advisory

New / Enhance Role

Strong Shariah framework

Knowledge hub in Shariah

Dev. sufficient pool of competence scholars

Strategy

Malaysia as global reference centre of Shariah in Islamic Finance

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ISLAMIC FINANCE

Overview Financial Sector Master Plan Key Initiatives

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BACKGROUND

The genesis of Islamic banking & finance in Malaysia was influenced by both internal and external factors. The external factors: 1975 - Establishment of the first Islamic bank in Dubai and the Islamic Development Bank (IDB) in Saudi Arabia 1976-85 - Rapid establishment of Islamic financial institution around the world & efforts by Islamic countries to transform their domestic banking system into the Islamic banking system, notably Iran & Sudan

* *

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BACKGROUND

The internal factors:

Success of Lembaga Tabung Haji as an Islamic savings institution

Commitment of the Malaysian Government

Calls by Malaysian Muslims for the establishment of Islamic banks

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BACKGROUND

The Government established two steering committees at the national level for the setting-up of Islamic banks and takaful companies · Steering Committee on the establishment of an Islamic Bank · Formed in 1980. · Recommendations of the Committee gave rise to: · Promulgation of the Islamic Banking Act 1983 · Enactment of Government Investment Act 1983 · Establishment of the first Islamic bank in July 1983 · Task Force on the establishment of an Islamic Insurance Company · Formed in 1982 · Recommendations of the task force gave rise to: · Enactment of the Takaful Act 1984 · Establishment of the first takaful company in 1985

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LANDMARK SPEECH IN 1990......

".......you may recalled Dr. Martin Luther King's speech entitled

"I HAVE A DREAM".

Like Martin Luther King, l TOO HAVE DREAM. I dreamt that Malaysia will one day will have two sound financial systems, i.e. the conventional financial system and the Islamic financial system. And Malaysians will choose the Islamic financial system for their financial needs....."

Tan Sri Jaffar Hussein Governor 1985-1994 USM, March 1990

....this vision statement led to the establishment of the dual banking system in Malaysia.....

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FINANCIAL SECTOR MASTER PLAN

To develop a structured Islamic banking system via the Financial Sector Master Plan (2001 ­ 2010)

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FINANCIAL SECTOR MASTER PLAN Sets the stage for the 10-year master plan for Islamic banking and takaful... Objective...

"To create an efficient, progressive and comprehensive Islamic financial system that contributes significantly to the effectiveness and efficiency of the Malaysian financial sector while meeting the economic needs of the nation...."

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FINANCIAL SECTOR MASTER PLAN

Creating an efficient banking intermediation channel Acquiring market share of 20% of the overall banking industry by 2010 in terms of assets, financing and deposits Positioning Malaysia as an international Islamic financial centre.

20% 11% 8% 15%

2001

2004

2007

2010

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FSMP ­ Key Initiatives

Regulatory framework development

Liberalise the Islamic banking sector issue 3 new Islamic bank licenses to foreign Islamic financial players 100% ownership Encourage transformation of Islamic window of IBS banks into Islamic subsidiary To issue 4 new takaful licenses to consortium of local & foreign players Introduce new firewalls ­ CAR, LRR, provisioning etc for IBS banks Introduce Framework of Rate of Return Introduce GP8i to Islamic bank MASB issued MASB-i1 for Islamic financial institutions 34

FSMP ­ Key Initiatives

Product and Market Development

Issue Product Approval Guidelines Develop Islamic banking floating mechanism ­ BBA floater & ijarah Introduce generic terms for Islamic banking products Introduce automated product approval and repository system (PARs)

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FSMP ­ Key Initiatives

Legal and Shari'ah aspects

Formed Law Review Committee to review existing laws that impede Islamic finance development Review Islamic Banking Act 1983 & Takaful Act 1984 Establish dedicated High Court to adjudicate cases on Islamic financial transactions Issue Shariah governance framework for Shariah committees in the Islamic banks and IBS banks Establish Shariah Advisory Council at BNM as sole reference point Regional Centre for Arbitration Kuala Lumpur (RCAKL) as alternative dispute resolution mechanism for Islamic finance

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FSMP - Initiatives

Knowledge & Expertise

Introduce annual Islamic Banking and Takaful Week Transform BIRT into IBFIM Establish INCEIF ­ RM500m endowment fund Organize International Shariah dialogue Set-up RM200m Shariah fund for R & D, scholarships & Shariah dialogues Islamic banking logo

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LANDMARK SPEECH IN 2005...

Islamic finance in Malaysia has now taken on a new dimension to become more internationally integrated. This is part of the strategy to evolve Malaysia as an integrated international Islamic financial hub that will have a greater role in facilitating international economic and financial flows....

Tan Sri Dr. Zeti Akhtar Aziz Governor, October 2005

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Wallahu a`lam & Syukran

JABATAN PERBANKAN ISLAM DAN TAKAFUL

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Expected deliverables of JPIT in coming years expanding with MIFC, transcending beyond national borders

· Continued innovation and leadership in driving strategic developmental initiatives · Extend policy leadership via the undertaking of high-quality research and in-depth studies that expand the frontiers of Islamic finance or facilitate in resolving complex policy issues in timely manner · Advance regulatory framework that addresses the uniqueness of IBT and strikes an appropriate balance between soundness and fostering a competitive environment of IBT · Make effective contributions to international regulation, standard setting and rule making on IBT, with a view of influencing the development of regulatory agenda of strategic importance to Malaysia · Drive high-impact strategies and collaborate closely with key stakeholders to strengthen and promote Malaysia's position as leading international Islamic financial centre · Champion the role in increasing awareness and promoting understanding of general public and international financial community on IBT through targeted and high-impact outreach initiatives

Global Leader `International business ' Regulator

Advisor Multi-faceted role of JPIT taking on an international dimension

Driver

Environment Shaper

Ambassador

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A more agile and capable organisation vital to sustain pre-eminence and address challenges effectively... organisational undertakings transcend beyond the ordinary and norms

Bank's Strategic Results JPIT Pillars Shariah Shariah

Malaysia as an International Islamic Financial Centre

MIFCD MIFCD

TI TE

FID FID

IB PPD IB PPD

Takaful PPD Takaful PPD

Cross-cutting individual pillar strategy JPIT's Overarching Themes of Initiatives Malaysia as global reference centre in Shariah · One-stop centre on MIFC · Presence of critical mass of world's leading financial players · Malaysia as global reference centre for technical assistance · High-impact strategic positioning of IF leadership Malaysia as; · Centre for Islamic fund raising, fund management, takaful & retakaful · Centre of excellence for IBF education & training Malaysia as benchmark leader in prudential regulations for IF

Bank's Other Strategic Results

Avoiding amber status in any financial institution Improving takaful (insurance) penetration Financing of the economy BNM as Leading Central Bank

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What We Need ...

Bachelor's / Master's Degree / Ph.D in:

Accounting Finance Economics Actuarial Science Insurance / Risk Management Banking Computer Science / IT Law / Syariah Law Decision Science Corporate Finance Behavioral Finance Investment Analysis Financial Engineering/Modeling Business Management / Commerce Islamic Economics Islamic Banking & Takaful Information Management Statistics Mathematics Human Resources 42

More About Us

Recruitment Section Human Resource Management Department 11C, Bank Negara Malaysia Jalan Dato' Onn 50480 Kuala Lumpur

G/L : 03-2698 8044 D/L : 03-2692 5373, 03-2691 0242 Fax No. : 03-2694 2909

E-mail : [email protected] Website : www.bnm.gov.my/careers

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