Regulatory Alerts2021-11-23
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Interim Report on Focused Review on Incentive Systems of Front Offices in Retail Banks
The Hong Kong Monetary Authority issued this interim report to share preliminary insights from a focused review of incentive systems in 20 retail banks. The review utilized an industry-wide survey and document analysis to identify common themes, such as the heavy weighting of financial incentives and the correlation between balanced incentive structures and positive staff perceptions of customer outcomes. The HKMA is advancing to the next phase of the review involving focus groups and interviews, with plans to share final observations and effective practices with the industry upon completion.
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