Lowyat.NET: Latest topics by IJustWantToAsk

SkillsFuture MY?

IJustWantToAsk — Mon, 22 Jul 2024 13:51:56 +0800

QUOTE

Keynote Address by Governor Abdul Rasheed Ghaffour
at the Launch of Future Skills Framework
Sasana Kijang | 22 July 2024

I am honoured to be here today for the launch of the Future Skills Framework for the financial sector also known as the FSF. I would like to commend the Asian Institute of Chartered Bankers, Malaysian Insurance Institute and the Islamic Banking and Finance Institute Malaysia for driving this important initiative, and to the financial industry for all the work that went into the creation of this framework.

Let me start with a brief mention of the economy's prospects. Malaysia’s economic growth performance remains forthcoming. Despite the many challenges and uncertainties, recent indicators reaffirm our assessment for an improved outlook of 4% to 5% growth this year. The economy expanded by 4.2% in the first quarter of 2024, and the advance estimate for the second-quarter GDP indicated a better expansion of 5.8%. The growth performance was supported by resilient domestic demand and recovery in external demand. This resilience is a direct result of our transformation to build a stronger and more diversified economy. This also underscores the importance of reforms to better position ourselves for the future.

The nature of work is also evolving. All over the world and across industries, automation, AI and other digitalisation trends are reshaping jobs and creating new ones. This means that the skills that matter in the workplace will also evolve and become more diverse. What is clear is that the workforce needs to be agile and resilient to change.

This is especially pertinent for the Malaysian financial sector, even as we strive to further develop and position the financial industry to more effectively serve the economy – a progressive and productive economy that is powered by innovation. To make this a reality, about 168,000 individuals working in the financial sector must be equipped with the right knowledge and skills. In this respect, the FSF is an important agenda to futureproof the sector’s workforce and ensure that it plays a pivotal role in driving economic growth.

Ladies and gentlemen,

The financial sector is an important employer, providing high-quality jobs to many in Malaysia. Despite ongoing efforts to digitalise operations, the financial sector workforce expanded by almost 3% in the last two years, with most employment opportunities targeted at highly skilled workers, averaging more than 95% of total job vacancies and newly created positions. This underscores the financial sector’s capacity to adapt to changes in the operating environment, enabling it to remain a net job creator, including of highly rewarding jobs.

To ensure that we remain ready to meet the evolving demands of the economy, the way we approach talent development must keep pace with the changes around us. Today, I would like to offer three perspectives on configuring the future of work and my thoughts on the way forward.

First, the digital and sustainability revolution. Digital transformation is set to significantly impact more than 20 roles in the financial sector across all job levels. This is not surprising as AI – including Generative AI in particular – is widely believed to be a major driver of change in the future of work. With its vast potential to create new opportunities and augment human abilities, Generative AI is forecasted to revolutionise 70% of text- and data-heavy tasks by 2025, and this is according to Gartner.

Concurrently, the rising urgency of the sustainability agenda has accelerated demand for new skillsets and job roles to support customers across industries in making the green transition and meeting their environmental goals. For example, to support customers in adapting processes and adopting technologies to reduce carbon and environmental impacts, complying with regulatory requirements, or mitigating the impacts of physical risks.

Second, the growing importance of power skills defined as psychosocial skills relevant for all job roles in the FSF in today’s workforce. As digitalisation and automation become more pervasive, technical skills alone is no longer sufficient as the world will be looking to tap into employees who are able to innovate and find novel solutions. Power skills will become increasingly valuable as they involve unique human abilities not easily replicable by machines – cognitive skills such as critical thinking, problem solving and innovative thinking or emotional and social skills such as adaptability and resilience – are skills integral in shaping culture and ethics within the organisations.

It also needs no saying that technical skills must also be continually upgraded. An interdisciplinary approach that blends technical and power skills are therefore required to thrive in today’s environment. Employees that are able to master both would be better prepared to navigate uncertainty, capitalise on opportunities, and drive organisational agility.

Third, embracing a “skills first” strategy in hiring and developing talent. For example, traditional strategies for recruitment and sourcing – such as through conventional graduate pathways – might no longer be the best way to attract talent with the right skills. We have seen organisations increasingly embracing a “skills first” approach in attracting, hiring and developing talent. This prioritises individual skills and competencies, irrespective of how they are acquired. And with technology, organisations can equip their employees with tailored skills based on business needs as and when they are needed and in a more cost-effective way. Further, by adopting a “skills first” strategy, employers can open opportunities for more people with the right skills mix to join the industry to drive organisational success.

Ladies and gentlemen,

Implementing the FSF is a critical step for the industry in building a strong foundation for skills development and job-skills matching, addressing the challenges and opportunities which I have just described earlier. And for this, we need a whole-of-industry and nation approach. With these perspectives in mind, I would like to put forward three action items to futureproof the financial sector talent.

First, skills forecasting and planning must be an integral part of the workforce strategy for the financial sector to remain resilient. As new forces of innovation continue to shape how financial services is delivered and the skills needed to support it, this means that the industry must continuously refresh the FSF to ensure it remains relevant as a reference point for skills, job roles and career pathways.

To do this effectively, we can learn from the UK’s Financial Services Skills Commission, which advocates forecasting skills at all levels – national, industry and at firm level. This means building allies for forecasting, undertaking detailed job understanding and data collection, and investing in skills development infrastructures.

The need to invest in skills forecasting is also clear for two reasons:

One is to serve as critical input to foundational education to reduce skills gaps among graduates; and
Second, to better anticipate reskilling and upskilling needs of the financial sector workforce. This in turn is imperative to meet new demands for financing in the economy to secure Malaysia’s future growth prospects.
My next point is for every financial institution to cultivate a culture of lifelong learning and emphasise high ethical standards throughout the organisation. A McKinsey study highlights that lifelong learning can improve worker productivity by up to 12%, and increase talent retention through higher employee loyalty and satisfaction. However, cultivating a culture of lifelong learning goes beyond setting aside a specific amount of budget for training every year. Its ethos should be integrated with how the organisation operates – for example by featuring development as part of career progression, encouraging learning and exchange of knowledge in everyday workflows and processes, and creating opportunities for employees to reskill and upskill themselves. Executive sponsorship is key and so the board and senior management must champion this agenda.

Equally important is the role of the board and senior management in preserving strong ethical standards and integrity throughout the organisation. Fostering trust and credibility in our financial system is of the utmost importance to preserving public and investor confidence. Our supervisory reviews over many years have found that institutions that are intentional and uncompromising in upholding high standards of governance and ethical conduct are far less likely to be exposed to financial and reputational risks.

Therefore, we expect the industry to be more deliberate in integrating strong ethics and sound risk culture throughout the organisation’s operations to prevent abuse, misconduct and exploitation. To achieve this, the board and senior management must provide strong and visible leadership on the desired values and acceptable conduct not only for the institution, but also the industry that you are a part of. Leaders must take direct ownership of the process for assessing and managing culture, and send a strong, clear signal that they do not tolerate fraud or predatory conduct. This must include the robust screening of prospective employees to prevent individuals that have defrauded institutions or customers from re-surfacing in the industry. This industry is built on trust and that trust depends on staff of financial institutions acting with integrity, honesty, transparency, fairness and empathy towards the public they serve.

Ladies and gentlemen,

Today’s launch marks a major step in our journey to realise the vision for the FSF which we set out in the Financial Sector Blueprint 2022-2026. But the work has only started. I hope that the FSF will inspire talent ecosystem stakeholders into action, not just to meeting today’s needs but also the future skills required for tomorrow.

My goal is for all to join us in this effort to develop a workforce that continues to better support the needs of the country. In keeping with a whole-of-nation approach, we will need the support of many stakeholders:

Equip individuals with skillsets that can ease entry into the financial sector through relevant offerings by tertiary education providers;
Development of future skills taxonomy and job-skills matching platforms that can facilitate a more seamless, user-friendly journey for both individuals and firms to identify common skillsets between job roles in different economic sectors in Malaysia – thus allowing greater job mobility;
The financial industry working closely with training institutes, professional bodies and industry associations to ensure that training programmes continue to be up to mark in meeting not only established quality assurance standards, but also in setting high standards in new skills areas as we go forward; and
Public-private partnerships that drive ongoing research and corresponding actions to address skills gaps and workforce needs in Malaysia.
Ultimately, our vision is for us all to strive towards a holistic FSF at the national level to unlock cross-sector talent mobility and support efforts towards greater job security and a vibrant labour market.

In closing, I look forward to seeing the industry embark on this journey of implementing the FSF. I am confident that your collective ownership of the FSF to ensure its continuing relevance and effectiveness, as well as applying the findings would strengthen your respective talent strategies and competencies across the board.

Bank Negara Malaysia
22 July 2024

Inb4 project songlap

Cheapest car in Australia

IJustWantToAsk — Fri, 05 Jul 2024 09:00:02 +0800

[YOUTUBE]oJ0bNstfWjw?si=2LPF6eWR1tNfBMo7[/YOUTUBE]

Fly after low peak (Mount K) within 24hrs

IJustWantToAsk — Tue, 12 Mar 2024 22:53:58 +0800

Is there any health risk (possibly death) if i fly within 24 hrs after reaching low peak?

for context, family members told me theres this rule in diving which you shouldnt fly within 24hrs, as theres health risk involve. They also say that hiking and diving are both the same.

my flight is on tuesday 1235pm and ill reach low peak on monday, then come back down to bki to stay for one night.

i did read some post on reddit stated that diving is actually different than hiking as diving builds up nitrogen but hiking dont. Link here

can anyone confirm?

why msian all jump plane to aussie

IJustWantToAsk — Wed, 21 Feb 2024 09:58:58 +0800

International Reserves of Bank Negara Malaysia as at 15 January 2024

Australia Official Reserve Assets: Total: in USD

meanwhile in sg

How Much National Reserves Does Singapore Have? (2023)

Ever regret leaving Malaysia?

IJustWantToAsk — Sat, 03 Jun 2023 09:42:00 +0800

With the recent ringgit depreciation and political issues arise, which make me question if someone ever feel so optimistic to leave Malaysia but end up regretting that decision?

You may answer the following questions to provide some context:
1. What motivated you to leave Malaysia and become a PR or citizen in another country?
2. Do you have any regrets about your decision? If so, what are they?
3. How have your quality of life, career prospects, and overall happiness been impacted by your move?
4. Have you encountered any unexpected challenges or obstacles while settling in a new country?
5. Do you feel disconnected from your Malaysian roots and culture since leaving the country?

Teen ask for 3.5k to go coldplay concert pt2

IJustWantToAsk — Sun, 14 May 2023 14:45:39 +0800

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QUOTE

Hello again. Can I ask for you help? All of you around the world.

In my profile bio there's a link directed to a donation link that I made. Yeah. I'm asking all of you to help me achieve my very dream. To watch Coldplay right before my eyes.

Someone suggested this couple days ago since I don't have much time,with finals to come in couple weeks,overdue assignments, and also almost no time to like have side hustle since the sale would be open in 6 days. And I'm afraid high demands would mean it would be sold out pretty quickly.

At that point I was like nah I felt like that's a pathetic move. But yall here are great people, great community. I shouldn't be selfish to ask for help. So here am I....asking all of you for help me to achieve my very dream bucketlist that I'm sure every Coldplay fan wants.

It would mean the world to me if you do help,and I'm very appreciative of all of you. If you can't, that's okay. Sabe the money for better use and purpose. I didn't force anyone, just asking help.

Please if you can,share,spread it to your friends,family that's willing to help me.

I would dearly,dearly appreciate if you do help me to achieve my dream,and I'm sure that if I manage to,I can share my sincere joy together with all of you.

A journey to #adventureofalifetime for me. A golden opportunity that I don't want to curse if I missed it.

Love y’all ❤️

For the love of Coldplay ❤️

#coldplay #coldplaymalaysia #chrismartin #musicofthespheresworldtour #livemusic #love

Link to his funding page

Pt2

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QUOTE

I mean can I just say sumn here? About my 'plea' for donation. Just to clarify for u guys.(not to all u lovely people....just some d*ckheads.)

I mean,I just ask for help,not like shove it in everybody's life and faces. To why my limit is 170 days or so is cuz of my last ditch hope. With my current circumstances of finals coming and also (yeah course not knowing and preparing to save money or whatever 🙄) people say I'm desperate and making myself look stupid af. I don't say you're wrong,it's your opinion but like yeah. Sorry to not be as privileged as you. Sorry that you're seeing a pathetic person seeks for cheap money. I'm sorry cuz being so fuzzed about going to concert that I dreamed of is basically stupid and should do better things. I can't bloody get a job cuz all stores here ignored my damn appointment. My study schedule is until almost sunset from the morning. Tried to do online but got scammed before (hehe ptsd to my followers and myself to those who knew what I meant). and also one more thing. If you work like a barista in like Europe or US like no shit you got good ass college money and can pay off your loans. In here? Can't fcking even sustain rent I'm sorry to say. If you want it so bad,you would do whatever tf you need to. The fuckin problem is I CAN'T. I TRIED BUT I CAN'T. OKAY?! Every damn time I tried to it always ends up the same.

In fairness,indeed I might not going yknow. I have no time,plus the sale is starting tomorrow. That's why I begged so much for a 2nd,or even 3rd show. Like a Buenos Aires type of shii which I guess would never happen basically.

If you be saying I'm stupid online with a fake face,man. Do better. You making yourself pathetic rather. Be hatin for no reason? Got nothing better to do then just basically insulting ppl online? Sad for you man 😂

Got any clarification? Good. End of rage.

Hope that clears any doubts.

*hate comments would be deleted immediately*

Well that just damned my mood now,is it?

#coldplay #chrismartin

where to park if i want go into sg?

IJustWantToAsk — Thu, 15 Dec 2022 11:05:54 +0800

wanna travel to sg but dun plan to drive in sg, was thinking to park car at nearby

where is the safest/cheapest place to park your car for let say, 5 days?

Gemas KTMB parking

IJustWantToAsk — Thu, 24 Nov 2022 09:44:20 +0800

Hi, how much is Gemas KTMB Parking per day?

and also, is it safe to park there?

S50 guessing price?

IJustWantToAsk — Mon, 22 Aug 2022 21:40:44 +0800

So for the current information, do you think that s50 will be starting from 65k?

Open for discussion

Distributor vs dealer

IJustWantToAsk — Thu, 18 Aug 2022 13:48:11 +0800

What's the different? Like distributor can get car faster? but if so, why do i have to book thru dealer?

and also, anyone know any perodua distributor in pj?

car loan, principal paying

IJustWantToAsk — Tue, 09 Aug 2022 00:03:11 +0800

is there any car loan that allow principal paying instead of advance payment?

i know that rhb allows it if u die die wanna do it (according to salesman, dunno true or not)

just want to know my options before i make decisions

loan amount below 45k, perodua

**side question, is that different showroom got different banks? or all is the same?

Brand vs price

IJustWantToAsk — Fri, 17 Jun 2022 10:37:02 +0800

Hi all,

I am posting this to seek for advice on studying masters in DS.

I had came across 3 different uni, all 3 have very pricing and also different name and cost

From high level view, sunway offers masters but at 60k, APU at 40k, and UM at 20k

Sunway just launched their masters this year, APU and UM is long established

My question now comes to, I cant afford much, so have to go to PTPTN for masters. Doesn't come from golden spoon, have to rely on own self.

Degree is from Local uni, which has always been looked down upon.

Was thinking if a Masters from Uni like Sunway might be a resume booster, but the price to pay is a little bit on the high side.

UM one was cheap but still Local U, APU in the other way offers wider scope, but longer study period, which is around 3 years studies.

So should I go cheap? or go branded?

Chip/crack on windshield

IJustWantToAsk — Tue, 24 May 2022 11:41:59 +0800

I contacted the repair shop about this issue, the shop told me that even after repair the hairline will still be visible, then they ask me if I have insurance on the car or nt

The car is under my relative which I have yet to purchase (we came to a mutual agreement that I'll buy her car as she no longer have use for it) but I'm currently using it.

Below are the crack/chip:

My problem is that my relative have no recollection of the insurance as it was handle by agents and they didn't know what insurance they purchase or what so ever, so it's better off that I find it out myself

My question is:
1. How do I find out which insurance policy is under this car plate? Without pushing them about it
2. Ignore comestic, is it safer that I bring it to fix prior to insurance and stuff?

Rat ma brlunch

IJustWantToAsk — Mon, 18 Apr 2022 11:48:50 +0800

[@TheEvilMan]

Mi/70mai dashcam back cam

IJustWantToAsk — Fri, 08 Apr 2022 08:51:46 +0800

can the back camera act as a reverse camera also? i saw alot online kata tu xbole jadi reverse cam, mcm defeat one of the purpose jor

Mosquitoes remedy

IJustWantToAsk — Sun, 03 Apr 2022 11:49:51 +0800

I have an issue with mosquitoes, they're too many around my area

I had installed mosquito net, bought 2 in 1 squatter(with blue led) and fumakilla plug repellent. None of this worked.

The mosquito was not attracted to the blue led, so the squatter that i bought was basically useless

The fumakilla vape i buka for 48 hours d, but the mosquitoes still hang around the house as if the repellent was not working

I dont want to use mosquito spray because i cannot tahan the mosquito spray smell.

Help me /sk

Tax borne by employer

IJustWantToAsk — Sat, 26 Mar 2022 19:18:38 +0800

What does this mean?

Does it means "No" if my payslip ada tax deduction?

Umobile coverage at KL/Selangor

IJustWantToAsk — Mon, 14 Mar 2022 11:27:47 +0800

Is it good? Consider changing to umobile cause 35 got 3gb hotspot

anytime fitness promo

IJustWantToAsk — Tue, 08 Mar 2022 20:10:41 +0800

i just discover that anytime fitness punya promo was different among outlets

why is it so?

I am also looking for cheaper one if can

To those 2 inch

IJustWantToAsk — Mon, 28 Feb 2022 08:28:57 +0800

[YOUTUBE]k6w1fC_IEtc[/YOUTUBE]