Guide to Participating Employers
The full terms and conditions and the obligations to abide as a Participating Employer can be referred to the “Employer Guide” and the “Application Form for Participating Employers”. In general, Participating Employers in the Summer Internship Programme (“SIP”) are expected to:
- provide internship positions ranging from 4 to 8 weeks during the summers of 2020, 2021 and 2022;
- provide detailed information on the internship positions for posting on the WAM Pilot Programme website;
- offer meaningful WAM-related work assignments to facilitate the student interns’ understanding of the various functional roles in the WAM sector;
- attend the Readiness Briefing Session organised by Hong Kong Securities and Investment (“HKSI”) Institute;
- enter into an employment relationship with the student interns complying with all relevant statutory and other requirements;
- pay a monthly honorarium to student interns during the internship period;
- be responsible for any other payments in relation to providing internship, including cost for provision of guidance and coaching and any other benefits.
Requirements before internship commencement
- NOT commence any internship until HKSI Institute has completed the verification process on the eligibility of the student intern concerned;
- any internship commenced before the verification process has been completed and confirmed by HKSI Institute will not be eligible for government subsidy under the SIP.
Supervision, assessment and reimbursement
- supervise and provide guidance on the student interns’ performance with assessment and feedback provided to the student intern at the end of the internship period;
- nominate experienced employees from within its own organisations to be mentors of the recruited student interns in accordance with the guidelines of the Summer Mentorship Programme;
- provide update on changes in the employment status of the student interns and report related performance issues, if any, to HKSI Institute;
- agree that representative(s) of the HKSI Institute can visit the student interns at their workplace on a random basis during the internship period;
- follow all other necessary procedures as requested by HKSI Institute for the purpose of administering SIP which may arise before, during and / or after the internship placement of the student interns;
- complete an evaluation on the SIP to the HKSI Institute;
- submit claim applications to HKSI Institute for reimbursement of the honorarium paid with a complete set of the required documents.
Consequences for non-compliance
- Participating Employers with substantiated complaints will be put on the “watchlist”. These employers may be barred from participating in the WAM Pilot Programme in future; and
- A Participating Employer found to have willfully and knowingly made false statements or provided wrong information, the respective regulator will be informed of any such incident(s).