Market conduct is vitally important to our business, fundamental to building and fostering customer trust and confidence in the bank. It is also key to achieving our vision of becoming the recommended bank of choice and our mission to improve financial well-being. In accordance with our Market Conduct policy, which is subject to annual review and approval by the Board of Directors, the bank has been proactively driving its implementation and continuous improvement. Throughout 2020, the top management, especially the Chief Executive Officer (CEO), President, Chief Retail Banking Officer (CRBO), Chief Commercial Banking Officer (CCBO) and Chief Automotive Lending Officer (CALO), continuously promoted good market conduct practices. Their keymessage encouraged our employees to ensure fair dealing by offering products and services suitable for customers transparently, fairly, and responsibly. To raise awareness and understanding of the bank’s intention and commitment in this regard, this message was relayed to all employees through internal communications such as our Quarterly Leadership Meeting, bank-wide emails, intranet, educational videos, and posters in branches and headquarters. With a view to improving sale quality and preventing potential mis-selling, we have also revised our incentive scheme so that it nowbalances financial andnon-financial KPIs. These revised KPIs are customer-focused, encouraging employees to serve more as financial advisors than sales people. Empowering our employees to become trusted advisors, the sales process has been revised to improve the quality of sales and services. For the pre-sale process, the bank provided tools and trainings for our frontline employees to upskill and equip themwith the relevant knowledge and competencies via employee development programs. At the same time, we proactively train our employees to become certified with licenses appropriate to their roles and responsibilities. Moreover, the bank continued to communicate and raise awareness through educational emails, videos and Microsoft Team meetings on market conduct do’s and don’ts. For the sales process, a 5-step processwas implemented to ensure a standardized service across the bank. MARKET CONDUCT Organization Structure Promoting Fair Dealing Product Development and Customer Segmentation Remuneration Structure Sale Process Communication and Training Data Privacy Issues and Complaint Handling 3 Lines of Defense Operations and BCP Customer 46 I n t r odu c t i o n Cu s t ome r s En v i r o nme n t a l & So c i a l I mp a c t s Pe op l e Go v e r n a n c e App e nd i x Su s t a i n a b i l i t y Re po r t 2 0 2 0
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