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"HR needs to be agile and pragmatic according to each situation," says Natixis CIB’s APAC Head of HR, as she explores how the bank is rethinking people strategy through wellbeing, cultural fluency, and AI transformation across markets.
Magdalen Tsang (pictured above) did not set out to build a career in a financial service industry. Her degree in International Business Management included HR-related subjects, and she always knew that was the direction she wanted to go. When she graduated in Hong Kong, 29 years ago, she went looking for an HR role.
"It was by chance that I originally entered the financial services industry. I was looking for an HR role first and foremost,” she says.
What followed has been a career that mirrors the banking industry's own transformation. When Tsang started out, HR in the sector was very much focused on the basics such as hiring, payroll, operations, and training. Today, as Head of Human Resources, Asia Pacific, Natixis CIB, the function looks entirely different. It has evolved to take in talent development, workforce planning, and employee wellbeing, with a far greater emphasis on understanding what employees need and building a people strategy that supports business growth.
Regulation has played its part in reshaping the function too. Across every jurisdiction, the hiring process now demands a certain level of education and conduct from applicants, and continuous learning has become a standing requirement. Performance alone no longer tells the full story.
Tsang notes that performance and results are no longer viewed as the only measures of success in the banking industry, with increasing emphasis now placed on building a strong and sustainable corporate culture within organisations.
The role of HR, then, has grown considerably more complex. But for Tsang, complexity is part of what makes it worthwhile.
Read on as Tsang speaks with Umairah Nasir in this edition of Industry Insider about the people challenges of operating across 30 markets, how the function is adapting to AI, and what makes a career in HR, for all its demands, such a fruitful one.
Q Having spent your career in banking, how have you seen people management in the sector evolve over the years?
The banking industry has progressed massively since I first joined. It used to be very focused on basic HR topics such as hiring, payroll, operations, and training. It has now evolved to look more at talent development, workforce planning, wellbeing of staff, understanding the needs of employees and implementing a better people strategy to help the business grow.
One big change in the banking industry is the increase in the number of regulations in all jurisdictions. For example, in the hiring process, the competency of applicants is more regulated. They must have a certain level of education and conduct. Continuous learning for employees is required.
Also now, performance and results are not everything, it consists of building a strong and successful corporate culture within the organisation.
Q Natixis Corporate & Investment Banking operates across 30 countries worldwide. What are the biggest people challenges you are currently facing across the region?
Every market has its own cultural nuances. These don’t just include labour laws but also the working culture. Different people have different working styles and priorities in their life. It is important to foster a mutual understanding and respect across cultures for better collaboration across the platform and globally. Diversity of culture is also important for business success.
To enable this, Natixis CIB has launched multicultural awareness training and activities like speed networking so people from different business lines and regions can meet and get to know each other, introducing their ways of working and their country’s culture.
Q The banking sector is known for its demanding pace and high-performance culture. How does HR support employees’ wellbeing while maintaining strong business outcomes?
We roll out wellbeing programmes throughout the year to keep employees engaged and connected, such as a dedicated wellbeing week and regular fitness classes to bring people together and provide a break from work. We also offer onsite health screenings and different initiatives in office to promote awareness of the importance of wellbeing.
"We regularly encourage managers to pay attention to the needs of their employees and to try to be flexible and sensible according to each situation."
Q Technology and AI are rapidly reshaping financial services. What new skills or mindsets are becoming critical, and how is your organisation helping employees adapt?
We see AI as a powerful tool to augment our team, to make people more effective and engaged at their jobs. In terms of investing in people, at Natixis CIB we build continuous learning programmes to upskill our staff, giving them the data literacy and analytical skills they need to work with these new tools. We foster a culture where it is safe to try new things, encourage our teams to experiment with AI, run pilot projects, and find new ways to use it.
One of our strategic goals is to have 100% of employees trained in AI, for example, knowing how to correctly prompt. We aim to help employees by providing AI tools for repetitive tasks such as manual data entry, to give them more capacity for value-added jobs like complex problem-solving or building deeper client relationships.
Q Competition for talent in the financial industry remains intense. How do you attract, develop, and retain high-performing employees?
Attracting talent is another key part of our strategic plan, as we are a bank driven by its talent. We continually visit career fairs and hold university visits at our offices. This is a great way to introduce Natixis CIB to talented young graduates. Another useful tool is employee advocacy as positive word of mouth is very important. For this, it is key to achieve a strong corporate culture. This also helps retain talent. When we hire new employees, we always study the cultural fit of each candidate to see if they will incorporate well into our team.
Q In a large, global organisation, how do you ensure diverse perspectives are actively included in decision-making and everyday collaboration?
At Natixis CIB, we engage our “We In Natixis Network” which aims to involve the whole community in the gender equity conversation, using diversity and inclusion as a strategic approach to help the business and achieve greater impact. We are also able to connect closely, encourage cross-country and cross-platform discussions regularly, and ensure governance representatives in each office. For major decisions, it is important to ensure we have the buy-in from all stakeholders first. By having these open and transparent discussions at all levels we can have a better understanding and therefore collaborate better with each other.
Q To end on a lighter note, what advice would you give to HR professionals who hope to build a regional career in the financial services industry?
In a regional role, one must consider all the other countries in the region and respect each culture. It is important to try and make decisions in the best interests of everyone, whilst also being objective when providing advice. Nowadays, HR has a multi-functional role. We are an advisor to the business and the employees, so we need to be ready to play multiple roles within the organisation. There is no set formula for people. We need to be agile and pragmatic according to each specific situation.
"While the role of HR has become more complex, it can be a very enjoyable and fruitful experience, especially as you see how you have helped employees develop, grow and be successful in their own careers."
Lead image / Provided
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