Organization culture of Malayan banking

INTRODUCTION

Mr. Khoo Teck Puat is from OCBC bank. His career started out as a loan company clerk. In 1950s, Khoo went on to become senior executive with the bank. After 10 years, Khoo accepted that his potential customers at OCBC continued to be limited. Due to there is absolutely no room for a better job available to him at OCBC, he has considered that there is no future. Hence, Khoo decided to create his own lender and went on to apply for a banking license. License was awarded to Khoo and few of his other OCBC executives left the lender to form Malayan Bank Berhad in 1960.

Malayan Banking Berhad or Maybank was contained in Malaysia on 31 May 1960. It offers commenced businesses on 12 September 1960. On 17 February 1962, Maybank was posted on the then Kuala Lumpur STOCK MARKET (today Bursa Malaysia). Today, Maybank is among the top companies by market capitalisation on Bursa Malaysia.

Maybank is greatest financial services group in Malaysia with total assets exceeding RM330 billion. The Group comes with an considerable global network of 1 1, 750 offices in 14 countries particularly Malaysia, Singapore, Indonesia, Philippines, Brunei Darussalam, Vietnam, Cambodia, China, United Kingdom, U. S. A. , Bahrain, Papua New Guinea, Pakistan and Uzbekistan

The Group offers huge selection of financial products. It is which range from commercial banking, Islamic banking, investment banking, offshore banking, credit cards issuance, leasing and employ the service of purchase, trustee services, stock broking, insurance, factoring, advantage management, nominee services, capital raising and Internet banking. Today, the Maybank Group has over 40, 000 employees who serve over 18 million customers worldwide, with 9. 5 million customers in Malaysia alone.

1. 0 MAYBANK'S Central VALUES AS Corporation VALUES

Source : www. maybank2u. com. my

Maybank has five primary values as groundwork of business which arrived from their Custom logo (T. I. G. E. R), all its staffs are led by five center values, which they are to uphold, emulate and personify these prices in their daily working lives. The Center Worth, i. e. acronym T. I. G. E. R. which stands for Teamwork, Integrity, Progress, Superiority & Efficiency and Marriage Building.

1. 1 DECISION MAKING PROCESS

Decision making process can be an important role for mature management to ensure sustainability of its company success. Because of excellence & efficiency as one of its key value, transparency is very important in decision making process. For instance, the structure of the Table fairly reflects the interest of almost all shareholder. It has adequately represented by the session of its nominee directors by not compromising interest of the minority shareholders. Influence by the nominees is balanced by the existence of 3rd party directors on the plank. Hence, the Board's collective views carry significant weight in the Board's decision-making process. As a result, the eye of minority shareholders will be displayed by the unbiased directors according with their roles and tasks.

Independent directors do not take part in the day to- day management of the Group. They do not engage in any business dealing with the Group. This is to be able to ensure that they stay capable of working out independent judgment. As such, the table will be satisfied and assured that no individual or band of directors has unfettered forces of decision that will create discord of interest.

The Board believes that the grade of its directors is very essential. All of them offers a broad selection of experience, skills and knowledge. That is to ensure they are in a position to spearhead the challenges, develop and drive the Group's eyesight. Furthermore, the governance requirements should be continually upheld. The Chairman who functions as a innovator of the organisation will always ensure that the Board's decisions are based on consensus of the majority. In the event when there is any concerns or dissenting views by some of its directors, will be resolved accordingly and saved in minutes of meetings.

The core prices are not only meant for the management team, it also has affects its middle management, range managers and its own staff. The central values are the guideline because of its staff to foundation at for decision making process. For a good example, if the supervisor is analyzing their staff performance, it will be made bottom part on its center value how the personnel has achieved the goals set upon them such as Teamwork, Integrity, Progress, Brilliance & Efficiency & Marriage Building.

1. 2 Regulations & PROCEDURES

Policies and types of procedures will be the nerve of an organization. Its inability will have undesirable effect on company's performance. As a result, Maybank has ensured compliance with inner control, and the recommended regulations by the regulators. These policies and procedures are lay out in the Group's Standard Practice Education and will be updated time to time in matching to changes to the business enterprise environment and regulatory requirements. As integrity is one of its key value, they has generated necessary controls to safeguard the bank and offer value added services to its shareholders and customers such as

Annual business plan and budget is submitted to the Mother board for approval. Real performances are assessed from the targeted results monthly. This will likely ensure timely responses and corrective actions to be taken to mitigate dangers. The Plank will be modified with regular reviews by the management on functioning reports, legal and regulatory concerns. The Board is also tasked to approve any changes or amendments required to the Group's procedures.

In order to screen progress of the business, the Mother board has set up several Table Committees to aid the Board in doing its oversight functions. This includes tasks on specific area on audit, conformity, controls as well as others. For example, Group Exec Risk Committee, Group Procurement Committee and Group Tender Committee. Hence, this committee has been entrusted to look at matters within their scope and are accountable to the Board with the tips or corrective actions. Their function is also to ensure effective management and guidance of the areas under the individual Committee's purview. The panel has also placed defined construction with approval restrictions for acquisitions and disposals of resources, awarding tenders, writing-off of functional and credit items, donations and operational expenses.

Recruitment and campaign guidelines/guidelines are founded to ensure appropriate folks of potential are decided on to fill up the available position. Training programs are conducted to ensure that staffs are competent and trained properly while discharging their duties and responsibilities successfully. This include face-to-face or through e-learning, semi and twelve-monthly performance appraisals.

1. 3 PLANNING & CONTROL

Maybank has established an on-going process for identifying and taking care of significant risks which may affect the achievements of its business targets. The proven process will be supervised and researched time to time to complement the changes in the business environment. This technique will be in place for the whole financial yr under review. Apart from that internal control was created to take care of the Group's dangers. This is in a acceptable risk revenue rather than get rid of the risk of failing while achieving goals and targets of the Group.

Management jobs includes:-

identifying and assessing the risks confronted;

formulating related regulations and procedures to manage these hazards;

designing, functioning and monitoring the right system of interior controls; and

implementing the insurance policies approved by the Board.

Control Structure

The board of directors has generated key process in reviewing the adequacy and integrity of the system of internal control buttons. This system is assessed by interior auditors by using an annual basis to guarantee the process is compliant with the standard operating procedure. Failing to this process, the necessary department will be scrutinised for improvement. As a strong lender, Maybank has generated an organisation framework with described lines of responsibility, boundaries of power and accountability. That is to suit the business and operations requirements. A solid team of Audit Committee is tasked to audit the functions established occasionally and are accountable to the board to thwart risk and exposures to the company.

Risk management guidelines, policies, strategies and methods are up to date regularly to ensure relevance and compliance with laws. Rules and regulations and are created available to all employees to follow through. Risk Recognition Programs been conducted to create awareness to its employees on the control environment. Whistle blowing coverage has been adopted for employees to article suspected misconduct or violations of the company's policies and rules.

Further to enhance Maybank's control, (3) lines of Defence principle - risk taking systems, risk control devices and interior audit have been set up. Each product is responsible to control risk inherent in business activities and also to set the construction for developing tools. Internal audit is sensible to provide self-employed assurance and oversee efficiency of risk management.

1. 4 INFORMATION Handling & COMMUNICATION

Maybank Group's Code of Ethics and Do pieces out the sound principles and criteria of good practice in the financial services industry, which are observed by the directors and its employees.

Both directors and employees are required to uphold the best integrity in discharging their tasks and in dealings with stakeholders, customers, fellow employees and regulators. That is good Group's Core Beliefs which give focus on behavioural ethics when dealing with alternative party and fellow employees. The Group communicates the Code to all directors and employees upon commencement with their employment and is deemed to participate the Conditions and terms of Service.

Maybank, as a custodian of general public money, has a responsibility to safeguard its integrity and trustworthiness. It is on this knowing that the organisation pieces out plainly the code of ethics and carry out for its personnel. The code stipulates the reasonable rules that will guide all Maybank personnel in discharging their tasks. It pieces out the standards of good bank practice.

In addition to these, personnel should

Ensure integrity and accuracy of documents and/or trades.

Ensure fair and equitable treatment in all business dealings on behalf of the lender.

Maintain the highest standard of service in their romance with customers.

Maintain confidentiality of most relationships and dealings between the Bank and its own customers. However, confidential information concerning a person may get or made available to third get-togethers only with prior written consent of the client or when disclosure is authorised under the Banking and FINANCE INSTITUTIONS Work, 1989.

Manage their financial matters well and not at the mercy of pecuniary embarrassment.

Observe and comply with laws and regulations associated with the functions of the lender.

Show appreciation, esteem and customer centricity

Develop long-term and mutually beneficial relationships

Build customer commitment and understand their expectations

Develop strong and friendly working romance with colleagues to accomplish business goals

Embrace and support variety of workforce (e. g. gender, competition, experiences &

views)

Build mutually beneficial marriage with all stakeholders

CONCLUSION

At Maybank, staffs are led by its Core Principles of Teamwork, Integrity, Progress, Excellence & Efficiency and Relationship building. As a fundamental element of its staff daily work, these prices will guide them to pursuit for expansion and brilliance. Any aspiration will come true with the right opportunity is the main element expression of Maybank. The management team has set their sights on selecting the brightest thoughts to participate their team. The search is on for encouraged individuals who are ready to go the distance with one of the leading finance institutions in Malaysia. Maybank offers the required opportunities for growth and excellence to achieve a mutually beneficial collaboration and winning border.

Maybank targets capturing development opportunities in high development while taking a proactive and traditional method of capital management by continuing to establish their occurrence in high growth market segments. Maybank's strong history of financial advantages and high credit ratings permit them to keep their momentum and continue with solid performance even amidst the existing environment.

Strengthening their primary business and franchise has made them gain competitive edge by obtaining synergies across their diverse group. They may have achieved control across key and profitable sections. Alternatively, internationally, Maybank has captured great value from new purchases and continue steadily to expand by delivering technology and superior customer value. They are the top recruiter of ability and view their command pool and talent pipeline as key to materialise their dreams. They constantly seek to enhance performance management by optimizing cost and concentrating on effective IT operations and boosting employee output.

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