My first Publication ocbc_ar17_fullreport_english | Page 53

FAIR DEALING
RESPONSIBLE BUSINESS PRACTICES
WHY THIS IS MATERIAL TO US
Fair Dealing is the basis of our business because it enables us to forge enduring relationships with our customers.
MANAGEMENT AND EVALUATION
Integrity is one of six core values embraced by our
employees. We are committed to dealing with our
customers in a fair and professional manner and
ensuring that we act in their best interests.
SELECTED POLICIES
OCBC Fair Dealing Framework
Establishes all required components for the
delivery of the Fair Dealing outcomes
Product Suitability Policy, Guidelines
and Committee
Governs the Bank’s procedures for approving
new investment products to ensure suitability
for our target customer segments
SELECTED PRACTICES
 Mandatory Annual E-Learning Course
and Competency Assessment
Stresses importance of Fair Dealing and how
to deliver the various Fair Dealing outcomes
 Product Training and Knowledge Testing
Builds knowledge of wealth management products
 Balanced Scorecard-Based Remuneration Framework
Requires sales staff to understand customer needs and
make suitable product recommendations
Policies, processes and systems relating to Fair Dealing
and product suitability are periodically reviewed
and enhanced to ensure the delivery of desired
customer outcomes. The Bank’s Fair Dealing
performance is reported to Group CEO and the
Board on a quarterly basis.
Financial needs analysis is performed to ensure suitable products are
recommended to customers
PERFORMANCE AND TARGETS
OCBC has established timebound metrics for employees to
receive training and to respond to complaints. The performance
on these metrics is monitored and reviewed closely.
100 %
COMPLETION OF MANDATORY FAIR DEALING
E-LEARNING COURSE
100 %
OF THE FEW INCIDENTS CONCERNING PRODUCT
AND SERVICE INFORMATION AND LABELLING
WERE RESOLVED SATISFACTORILY
Note: The training performance includes employees in
Singapore and Malaysia
We remain fully committed to conducting our business with
integrity and dealing fairly with our customers. We target zero
non-compliance pertaining to Fair Dealing requirements.
BUILDING ON OUR CORPORATE STRATEGY FOR SUSTAINABLE GROWTH
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