Surfing the Wave of Unpredictability with Focus on Operational Resilience

Cover Story 

Surfing the Wave of Unpredictability with Focus on Operational Resilience

With digital transformation increasingly central to banks’ growth strategies, associated risks becoming more interconnected and unpredictable, and scrutiny from regulators and customers more intense, this edition's Cover Story looks at ways the chief risk officers of Hong Kong’s banks are finding their responsibilities being continually elevated and the need for leaders to move beyond compliance to proactively mitigate risks and ensure that the mechanics for providing financial services are sound and resilient.

Thought Leaders

Striving for Growth While Connecting Capital with Opportunities

As the most international city in China and the most Chinese city outside of the Mainland, in the Thought Leaders column in this edition of Banking Today, Nicolas AGUZIN, CEO of Hong Kong Exchanges and Clearing Limited (HKEX) explains why Hong Kong is in a unique position to facilitate the capital flows between China and the rest of the world. With the continuing growth of China’s capital markets, AGUZIN also provides detailed insights about the strategic advantages that enables HKEX to achieve its strategic business goals of "Connecting China and the World", "Connecting Capital with Opportunities", and "Connecting Today with Tomorrow".

Special Article

Staying Ahead of Evolving Cybersecurity Threats

As the cybersecurity threat landscape continues to evolve and cyberattacks become more prevalent, the HKIB Cybersecurity Solutions Day 2022 explored the latest issues in cybersecurity and the strategies the banking and finance sector can employ to effectively protect against cyber threats and ensure regulatory compliance.

China World

Greater Bay Area Policies Drive Opportunities for Commercial Banking

With the Greater Bay Area (GBA) representing the most economically vibrant and outward looking region in China, in the China World article in this edition of Banking Today, KPMG looks at the potential for Hong Kong's commercial banks to capitalise on the advantages the vast market and pilot liberalisation initiatives the GBA offers, while servicing the burgeoning economic development in the area.

Knowledge Plus

Bank On Integrity — The Key to a Clean and Efficient Banking System

A clean and efficient banking system is pivotal to the success of Hong Kong as a leading financial centre. To sustain the competitive edge of the banking system and to protect the interests of different stakeholders, it is important for every banking practitioner to have a stronghold of high probity standard, particularly during economic turbulences.

GRC Corner 

Staying Ahead of the Rapid Evolution of Virtual Assets

As with other financial innovations, virtual assets pose a challenge to financial regulators; in particular because of the variety of investment products based on virtual assets now available in the market. To accommodate their rapid development and wide scale application in Hong Kong, the Securities and Futures Commission (SFC), together with other regulatory authorities, have stepped actively into the virtual asset space taken to provide a well-defined regulatory environment which fosters innovation, market development and investor protection. The GRC Corner article in this edition of Banking Today explains how the SFC has adopted a “same business, same risk, same rule” principle to regulating virtual asset activities.