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; and
- attend the Readiness Briefing Session organised by Hong Kong Securities and Investment (“HKSI”) Institute.
- enter into an employment relationship with the student interns in full compliance with all applicable and relevant local legislation and statutory requirements in relation to employment, including visa applications for overseas students;
- pay an honorarium to student interns during the internship period; and
- 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; and
- 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 or through online meetings 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; and
- 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).