The Hong Kong Securities Institute's Fellow
Membership is so much more than a pat on the back
for a job well done. Hong Kong Securities discovers
how the programme hopes to draw on the
experience and expertise of local professionals for
the benefit of the industry.
The Hong Kong Securities Institute is a vast pool of untapped
talent and in order for the local industry to develop that
talent needs to be uncovered and recognised, believes
Fellow
Member Mr Paul Fan, Chairman, Paul Fan Securities Limited.
Mr Fan was commenting on the Institute's
Fellow Membership programme that recognises the contribution made by experienced
practitioners to the development of the industry.
"The Institute is full of volunteers
trying to help each other and that is why I believe there are
a lot of members that may qualify," he said.
A former Institute board member, Mr
Fan is one of only six current Fellows and was among the first
cohort when the initiative was launched back in 2003.
According to Mr Fan, the securities
sector is very well respected within Hong Kong society and he
and other senior professionals feel that the local
practitioners should be more proactive in helping to shape the
industry.
"There is a general feeling that
expertise always comes from abroad and the intention is to
build up local expertise so that we don't have to always rely
on professionals from overseas. We welcome it, but we don't
want to have to rely on it," he said. "In order for the local
financial services industry to move forward, we have to
nurture local talent. Finance is one of our city's most
important sectors and one where we can still claim to have a
competitive edge over other markets in the region. Therefore
it will always have huge potential for development."
One way of building that expertise,
argues Mr Fan, is for members to strive for
Fellowship status
through aiding industry professionals and the development of
the local securities industry. For members that are more
comfortable in the classroom and may have limited time for
voluntary work, they are free to follow an academic route to
Fellowship status.
Before applying for
Fellow
Membership, members should satisfy a number of strict
criteria.
Either, they must already be an
Ordinary Member, HKSI Diploma Programme qualified and have
five years of relevant post-admission experience.
Or, they must have over 15 years
relevant industry experience with at least five years Ordinary
Membership, hold a senior position within their company and be
responsible for the formulation of policy making decisions.
They must also have contributed no less than two years of
voluntary time to the development of the Institute, and made a
significant contribution to the development of the securities
and investment industry by way of: holding a responsible
position within the industry; possessing recognised expertise
or being a recognised industry scholar; having devoted
time serving as an advisor to a relevant government committee.
Mr Fan points out that participation
in the Fellowship programme is something that a professional
would want to do for the benefit of others, rather than
himself.
"It's an individual decision," he
said. "It is something worth obtaining for self satisfaction.
If you think it is going to help you make more money from it,
then that is a different issue."
Having spent close to forty years in
the finance industry and most of that with his own practice,
Mr Fan could be something of a role model for aspiring Fellow
Members.
His voluntary contributions to the
industry and community are as broad as they are varied. Among
many others, he is a member of the Securities and Futures
Commission Advisory Committee; permanent honourary president
of the Hong Kong Stock Brokers Association; chairman of the
Hong Kong Award for Young People; and he was a director of HK
Exchange and Clearing Ltd from 2000 to 2003.
As the chairman of the 88th Lions
Clubs International Convention HK Organising Committee, he is
overseeing next year's week long convention that will see up
to 30,000 club members and their relatives visit the SAR.
According to Mr Fan, finding the free
time to help other industry professionals is tough in Hong
Kong considering its fast and frenetic pace.
However, sparing some time to help
others develop will contribute towards raising the reputation
of and the opportunities within the local finance industry,
said Mr Fan.
"It is not just about working hard
[to become a Fellow Member], you have to have performed a
public service to help the industry," he said. "That is one of
the most important criteria. So volunteering your time for the
industry is very important because human resources can be very
rare and expensive in our industry so volunteering your time
can be a big asset to other professionals in the industry."
HKSI Fellowship - Application for
Nomination
Ordinary members of the Institute (MHKSI) who would like to
file an application for nomination for progression to
Fellowship should do so before the application deadline on 31
July 2004. For further details, please contact the Corporate
Communications and Membership Services Department on 852 3120
6170.
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