Political economy, Regulation and Innovation top the agenda at FIBI International Banking Conference 2019
The Federation of International Banks in Ireland (FIBI), which is affiliated to Banking & Payments Federation Ireland (BPFI), today held its flagship international banking conference at The Westin Hotel, Dublin. Against a backdrop of increasing financial market activity in Ireland today’s conference brought together a panel of industry leaders, regulators and decision makers from across the international and domestic financial services sector to discuss the future of international banking amidst continued geo-political uncertainty, on-going regulatory implementation and financial technological transformation.
In the opening address to the conference, Derek Kehoe, Chairman, FIBI, highlighted the results of FIBI’s latest research with its members which shows sentiment is upbeat in relation to increasing employment levels in the sector, however it also highlights concern in relation to skills shortage: “Some 56% of our members expect to increase employment numbers here over the coming 12 months, while 25% expect levels to remain unchanged. When asked to rate a range of factors here relative to other international financial services locations, 93% of respondents positively referenced the adaptability/flexibility of the workforce; 57% positively referenced the availability of suitable graduates; but just 28% positively referenced the availability of experienced/skilled staff.”
“What all of this indicates is that the international banking sector has the appetite and the capacity to further increase overall employment levels here over the next twelve months at least. But it would also seem that further work needs to be done to ensure a pipeline of suitably qualified people.”
Mr Kehoe also underlined the industry’s commitment to the issue of conduct and culture and also its full support for structures and changes being put in place externally:
“In terms of conduct and conduct we fully recognise as an industry that we need to ensure the best outcomes for our various stakeholders – our customers, employees, shareholders, regulators and the society in which we operate. Exemplary conduct needs to be at the core of everything we do. The main driver for this has to come from within our own structures, our own industry. We have a Working Group in place which, for starters, is actively focused on sharing best practice in this area. At the same time, there are and will be drivers for change from outside our industry. In this regard we welcome the establishment of the Irish Banking Culture Board; and we support Central Bank plans for enhancement of the current fitness and probity regime to implement a new framework of accountability at senior executive level.”
Note: The Federation of International Banks in Ireland (FIBI) is the principal voice of the international banking and financial services sector in Ireland. FIBI is affiliated to Banking & Payments Federation Ireland (BPFI).
Contact: Jillian Heffernan, Head of Communications, BPFI
Ph: 01 4748835 / 087 9016880