Shinhan Bank, Personnel and Organizational Restructuring to "Enhance Expertise, Diversity, and Internal Control"

Kim Ki-heung Appointed as Deputy Head of Business Planning Group

[Asia Economy Reporter Yu Je-hoon] Shinhan Bank announced on the 28th that it held a board meeting at its headquarters in Jung-gu, Seoul, where it newly appointed executives and carried out an organizational restructuring. The newly appointed executives will begin their terms on January 1 of next year.

According to Shinhan Bank, at the board meeting, there was a consensus to select young and capable leaders with a focus on ▲job expertise ▲securing diversity ▲strengthening internal control, and to promote a stable generational change. Additionally, considering organizational management capabilities, the bank newly appointed the most suitable candidates as executives in various fields such as management planning, corporate, digital, ICT, management support, pension business, and information security.

First, Kim Ki-heung, Executive Vice President, was appointed as head of the Management Planning Group. Kim Ki-heung is responsible for comprehensive planning of the bank, including strategy and finance, and is recognized for his ability and insight in understanding the bank’s overall operations and formulating and implementing strategies. Kim Yoon-hong, appointed as head of the Corporate Group, is acknowledged for his expertise in corporate analysis and risk management, supported by his experience in the credit review department and proactive sales support.

Lim Soo-han, appointed as head of the Digital Strategy Business Group, has extensive experience in digital business, with leading capabilities in discovering future digital businesses and accelerating digital transformation (DT) through new technologies. Hwang In-ha, appointed as head of the ICT Group, possesses job experience and expertise in IT development, operations, and global areas, having executed numerous projects including New SoL.

Yong Un-ho, appointed as head of the Management Support Group, is evaluated as having a high understanding of overall bank management and sales sites, including human resources and sales, and excellent communication skills. Park Ui-sik, appointed as head of the Pension Business Group, was promoted from department head to executive director due to his leadership and expertise, having led various projects such as strengthening customer asset management through the establishment of a customer management center while serving as head of the retirement pension department. Additionally, Yoon Joon-ho, appointed as head of the Information Security Headquarters, was promoted from branch manager to executive director, possessing the necessary expertise as Chief Information Security Officer (CISO) with experience in various departments including financial development, information development, and global development.

Shinhan Bank also newly appointed a compliance officer to proactively respond to risks surrounding the financial industry, such as domestic and international economic recessions and intensified internal and external uncertainties. Furthermore, it decided to renew the terms of executives who have shown performance in areas such as management support, institutions, GIB, and digital, reinforcing stability.

Meanwhile, Shinhan Bank reorganized its organization according to five major restructuring directions linked to the mid-term strategy and 2023 management plan: ▲strengthening management and internal control ▲accelerating digital performance creation ▲advancing business portfolio ▲strategically strengthening customer management ▲and continuously preparing for the future.

First, to strengthen internal control, a Compliance Management Department was newly established as a control tower to innovate the internal control management system linked to external compliance policies. Additionally, to enhance on-site pre-control and accident prevention activities at face-to-face branches, compliance monitoring personnel will be forward-deployed to regional headquarters to directly carry out compliance monitoring activities.

Organizational restructuring was also carried out to continuously promote digital transformation. Shinhan Bank expanded and reorganized the Digital Strategy Group, which promotes digital business, into the Digital Strategy Business Group and the Open Innovation Group to drive core digital transformation capabilities and external expansion through partnerships. The newly established Open Innovation Group will focus on practical digital transformation and performance creation through innovation based on collaboration with digital platform companies such as KT and Douzone Bizon.

Shinhan Bank also promoted customer management and business competitiveness through a significant group restructuring. It established the Personal & WM Group by integrating the Personal Group and Wealth Management (WM) Group to strengthen lifecycle-based customer management linkage. Through the integration of the Digital Marketing Department and Personal Customer Department into the Digital Personal Customer Department, it plans to fully implement omni-channel marketing, linking face-to-face and non-face-to-face customer management. Along with this, Shinhan Bank will advance its business portfolio by establishing the GIB & Large Corporate Group through the integration of the GIB Group and Large Corporate Group, converting the Retirement Pension Group into the Pension Business Group, and expanding and reorganizing the Global Business Group.

Based on the Vision 2030 mid- to long-term strategy, Shinhan Bank also carried out organizational restructuring to secure future competitiveness. Key examples include the establishment of the BaaS Business Department and Platform Finance Marketing Department to fully activate the Banking as a Service (BaaS) business model; the creation of permanent tribes under the personal, corporate, and digital sectors; forward deployment of ICT development personnel to business groups; and the establishment of the Model Engineering Department to internalize risk modeling capabilities. A Shinhan Bank official stated, "We carried out this organizational restructuring to prepare unwaveringly for the future despite the difficult management environment."

This content was produced with the assistance of AI translation services.