Working at Standard Chartered Singapore: Company Culture, Benefits, and Leadership
Standard Chartered Bank, with a history spanning 164 years, stands as a key player. As a leading international bank, it has made a lasting impact on the global financial stage and has notably influenced Singapore's banking landscape. In this blog, Aniday will delve into the company's history, its unique organizational culture, the comprehensive benefits it offers, and the leadership that propels the bank forward.
Company History of Standard Chartered Bank Singapore
Founded in 1859, Standard Chartered Bank has been an integral part of Singapore's financial history, witnessing and contributing to the nation's growth. In October 1999, the bank received a Qualifying Full Bank (QFB) license, a testament to its unwavering commitment to Singapore's business landscape. Over the years, the bank has evolved, adapting to changing economic climates and technological advancements, establishing itself as a reliable financial partner for individuals and businesses alike.
Organizational Culture: Beyond Labels and Diversity
Standard Chartered is committed to embracing diversity and fostering an inclusive environment. The bank goes 'beyond labels,' recognizing that each employee is more than any singular stereotype. The belief that diversity is a key strength is embedded in the organizational culture, allowing for the cultivation of new ideas, challenging viewpoints, and unlocking innovation.
The #BeyondLabels initiative emphasizes the uniqueness of each individual. It’s a celebration of varied backgrounds, experiences and perspectives that employees bring to the table. This culture in Standard Chartered is not just a tagline but a guiding principle that influence ever aspect of the workplace, from hiring practices to daily interactions in the company.
Growing your career with Standard Chartered Bank Singapore
Growing your career with Standard Chartered Bank in Singapore involves a commitment to fostering individual growth and embracing diversity.
1. Beyond Labels Philosophy
Standard Chartered promotes a culture that goes beyond labels, recognizing that no single label can fully encapsulate an individual's capabilities and potential. The bank is committed to bringing out the best in each person, irrespective of age, background, or work arrangement.
2. Inclusive Environment
The bank encourages an inclusive environment where individuals can be themselves and focus on what matters. This commitment is rooted in the understanding that serving clients, colleagues, and the community transcends preconceived notions and stereotypes.
3. Purpose-Driven Approach
Standard Chartered's overarching purpose is to drive commerce and prosperity in all markets through unique diversity. This purpose serves as a guiding principle, emphasizing the importance of leveraging the strengths of diverse talents and perspectives.
4. Global Exposure and Opportunities
Standard Chartered leverages its diverse workforce and international network to help employees expand their horizons. The bank provides opportunities for learning and growth across global business, innovation, and operations teams. This exposure allows individuals to develop a broad understanding of the banking industry on a global scale.
5. Career Stages
The bank acknowledges that career journeys differ for individuals at different stages. Whether you are just starting your career, in the middle of your professional journey, or an experienced professional, Standard Chartered aims to provide opportunities that align with your aspirations and skill development needs.
6. Learning and Development
Standard Chartered invests in the learning and development of its employees. This includes training programs, workshops, and access to resources that contribute to continuous skill enhancement. The goal is to ensure that employees are well-equipped to navigate their career paths effectively.
7. Diverse Opportunities
The bank emphasizes that there is something for everyone within its organizational structure. Regardless of your career stage, Standard Chartered aims to provide a variety of opportunities, ensuring that individuals can find roles and projects that align with their skills and interests.
Benefits: A Comprehensive Approach to Employee Well-being
Standard Chartered Bank provides various benefits that contribute to the overall well-being and development of their employees. These benefits include:
1. Fair Pay Charter
The Fair Pay Charter is a public declaration of the principles that guide reward and performance decision-making at Standard Chartered. It encompasses aspects such as financial security, competitiveness in the market, pay for performance, equal pay for equal work, and clear, understandable, and well-administered pay structures. The bank has ambitious multi-year plans, including efforts to drive change in areas like living wages.
2. Competitive Salaries
Employees at Standard Chartered receive competitive salaries that reflect their skills and experience. Salaries are reviewed annually in the context of performance assessments, market considerations, and overall affordability. The bank takes into account not only financial performance but also potential and positive conduct when evaluating salaries.
3. Well-Being Support
Standard Chartered is committed to supporting the holistic well-being of its employees. This includes benefits that cover mental, physical, financial, and social well-being. Core bank funding is provided for retirement savings, medical and life insurance. In addition, there are flexible and voluntary benefits available in some locations to cater to individual needs.
4. Flexible Working Options
The bank recognizes the importance of work-life balance and offers flexible working options based on home and office locations, including flexible working patterns. This flexibility supports employees in managing their professional and personal responsibilities effectively.
5. Leave Policies
Standard Chartered provides various leave options, including annual leave, parental leave, sabbatical leave, and volunteering leave. The bank adheres to minimum global standards for annual/public holiday combined, volunteering, maternity leave, and sabbatical leave.
6. Continuous Learning Culture
Employees benefit from a continuous learning culture that supports their professional growth. Opportunities for reskilling, upskilling, and access to physical, virtual, and digital learning experiences are provided to help individuals stay relevant and advance in their careers.
7. Wellbeing Programs
The bank offers proactive wellbeing support through resources like Unmind, a digital wellbeing platform, and development courses focusing on resilience and other essential human skills. There are additional support mechanisms, such as the global Employee Assistance Programme (EAP), sick leave provision, mental health first-aiders, and self-help toolkits.
Leadership: Steering the Ship Towards Success
The leadership team is dedicated to creating an environment where employees feel valued, respected, and empowered to reach their full potential.
1. Patrick Lee - Cluster CEO, Singapore & ASEAN Markets
Patrick Lee, as the Cluster CEO, orchestrates the bank's business development strategy across Singapore, Malaysia, Vietnam, and Thailand. With a wealth of experience at Nomura and Standard Chartered, Lee brings strategic vision to his role.
2. Judy Hsu - CEO, Consumer, Private and Business Banking (CPBB)
Judy Hsu, the CEO for Consumer, Private, and Business Banking, shapes the retail banking landscape in Singapore. Known for her deep market understanding, Hsu oversees wealth management, personal banking, and SME banking, consistently delivering impactful results.
3. Naga Srinivas Yerragunti - Regulatory Reporting Head
As the Regulatory Reporting Head, Naga Srinivas Yerragunti ensures the bank's compliance with regulatory requirements in Singapore. His extensive regulatory experience and risk management proficiency contribute significantly to the bank's adherence to standards.
4. Sujatha Venkataramanan - PM at SCB
Sujatha Venkataramanan, in her role as Project Manager, is a driving force behind critical projects shaping the bank's success in the Singapore market. Her strong project management skills and deep business understanding make her an invaluable asset.
5. Parshant Kishore - Sr. Technical Specialist:
Parshant Kishore, a Senior Technical Specialist, brings technical prowess to the bank's teams. Known for solving complex problems, Kishore plays a vital role in keeping the bank at the forefront of technological advancements.
In choosing Standard Chartered, employees are becoming part of a legacy that has stood the test of time, adapting and thriving in an ever-evolving financial landscape. Aniday believes that the combination of a strong company history, a culture that values diversity, comprehensive benefits, and visionary leadership makes Standard Chartered Bank in Singapore not just a workplace but a platform for personal and professional growth.
