Since 1999, Central Banking Publications has organised annual residential training courses/seminars, which have been attended by more than 5,000 central bankers and supervisors from over 140 countries. Human Resources: Facilitating Change and Performance 15 18 September 2015, Christ s College, Cambridge Course Chairman Iain Thomson Managing Director Squared Circle Consulting Ltd Series Advisor Charles Goodhart Professor Emeritus London School of Economics Financial Markets Group www.centralbanking.com/cambridgebr
Dear Delegate, An organisation s HR policies and practices are the clearest demonstration of its value system, the qualities it regards as important Ravi Menon, Managing Director, Monetary Authority of Singapore, January 2015 In today s world, trust and accountability are the lodestars that guide central banks in their relations with stakeholders and the public. Increasingly senior executives at central banks understand that this journey begins and ends with the people that work for, represent, and advance the institution. At the same time the business of central banking is changing. New skills are required, new ways of working implemented, and new levels of productivity demanded. For HR professionals this environment presents an opportunity to show themselves as `drivers for change within the institution and to demonstrate their value at a strategic level. This seminar, Human Resources: Facilitating Change and Performance is designed to equip delegates with the tools to meet these challenges and opportunities. The four-day programme of interactive roundtable seminars and workshops offers practical examples of the application of human resources, as well as questions of organisation and resourcing the function. The panel of expert speakers combines practical central banking experience and expertise in the technical aspects as well as views from private sector experts. All discussions are held in roundtable format to encourage participants to share their experiences and debate the pressing issues in their field. This format, as more than 5,000 central bankers and regulators can attest, encourages delegates to quiz panellists, raise issues and discuss solutions to the specific challenges they face. We look forward to welcoming you to Cambridge on September 15. Yours sincerely, Key sessions focus on: HR as a change driver Succession and exit planning Interaction with the central bank: from operational to strategic Human resource audit Recruitment and branding as an employer Well organised and useful course. A lot of practical knowledge Busaidi Ali, Manager, Central Bank of Oman Key speakers include: Milada Hrda, Executive Director, Human Resources, Czech National Bank Mugur Tolici, Human Resources Department, National Bank of Romania Mary Waceke, HR Specialist, Central Bank of Kenya Renée Fullerton, Assistant Director, Wellness and Employee Robert Pringle, Chairman Central Banking Publications
Thursday Tuesday 1518 September April Targeting HR as a Strategic Right Practice Function Human Resources: Facilitating Change and Performance New HR functions: key questions and frameworks Discussion by the Chairman, Iain Thomson In recent years, HR frameworks have had to reflect and respond to major changes arising from the evolving landscape of central banking. These changes, notably an increased focus on financial stability, have challenged long-held notions of recruitment, skill requirements, performance and compensation. In this introductory session, the chairman will invite delegates to share their main areas of interest and the key challenges facing their departments in aligning central bank staff with a changed institutional focus. Broader discussion will follow regarding existing frameworks within HR, and participants will be challenged to consider how HR has developed within their central bank and where performance can be improved. HR as a change driver Mary Waceke, HR Specialist, Central Bank of Kenya A key task for HR to function effectively is to grasp and support the bigger picture in which the central bank is moving. But how? How does the HR department transition to one which is able to not only facilitate but also drive strategic change? HR departments as a workhorse of the institution, and are often seen as bureaucratic personnel functions, with a purely operational outlook. Yet, the strength of HR lies in understanding, supporting and developing the people element. As no other function it can and should leverage this to deliver top-down insight and impact in ensuring the optimal allocation of skills across an institution. In this session the speaker will challenge the group to consider the role of HR as a strategic partner within a central bank. Discussion will focus on how organisational changes such as functional alliances, new structures and hierarchies, and new ways of assigning work illustrates the need for (and opportunity for) the HR function to play a critical role in helping central banks navigate through change. Interaction with the central bank: transition from operational activities to strategic contribution Speaker to be confirmed The work of HR, by definition, touches every part of the central bank. But does HR engage? Or interact? The challenge for HR is how successfully to communicate the value of their work with different levels from senior executives and board members to new recruits. What type of evidence about HR successes needs to be provided to the various areas of the institution? What feedback does HR get (and seek) from departments? How do staff perceive HR? The speaker will explore how HR departments can best manage the various demands in shifting their efforts from operational activities to strategic contribution including the challenges associated with convincing staff, boards and unions to implement change. About the course chairman: Iain Thomson spent most of his career at the Bank of England, holding positions in exchange control, foreign exchange, open market operations and training, before a two-year secondment to the Central Bank of Swaziland, sponsored by the IMF. There, he was director of foreign exchange reserves, and responsible for advising the governor, developing local capacity to manage financial markets, and establishing Swaziland s first stock market. On return to the UK, he was involved in helping various Eastern European and former Soviet Union central banks to modernise. He eventually created and was appointed to the role of Head of Training & Development at the Bank. After leaving the Bank in 1999 he set up his own consultancy firm, dealing with all aspects of performance management. and working with over 200 organisations in 39 countries.
Cambridge, 2015 Wednesday 16 September Enhancing Competencies Customers who are they and what do they want? Mugur Tolici, Human Resources Department, National Bank of Romania What do governors and directors actually want and need from human resources? This is the focus of this session which will look at the competing and changing demands placed on the HR function. Discussion will consider how this can inform a statement of principal strategic objectives, priorities and targets, and the contribution and value that human resource management initiatives can make to the institution as a whole. What does society want in a central bank(er) now, and in the future? Mary Waceke, HR Specialist, Central Bank of Kenya Central banks have experienced dramatic changes in what governments, markets and stakeholders expect of them. To match these new expectations, they increasingly recognise that skillsets must change. The speaker will provide an outline of how her institution managed some major internal structural changes, including the hiring of new directors, and will challenge delegates to think about what their senior management are looking for in staff. Group discussion will focus on how resourcing needs have changed as a result of changing sociopolitical demands. Potential: succession and exit planning Mugur Tolici Changing institutional roles and increasing pressure to demonstrate good governance at central banks as a whole, place more emphasis on how HR should actively manage talent and succession. This session will look at practical ways that their institution has implemented its strategy for the future. The speaker, an HR director, will explain how a new HR system helps to identify talents, plan career steps and give all staff the ability to maximise their potential, which in turn will ensure succession and retrain new staff by concentrating on people rather than structures. Branding: a key element in recruiting and retaining Ahmed Kamal Ahmed El Gazaar, Assistant Sub-governor for Human Resources, Central Bank of Egypt (invited) As the war for talent continues, there is increased emphasis on employer branding to initiate youth-friendly recruitment and hiring strategies. Four years ago, Universum, a company specialising in employer branding, named the Riksbank Employer branding organisation of the year in the category of Young Professionals. In this session the speaker will show how the Riksbank promoted itself as an employer especially via its direct contact with young economists and graduates in general. The session will also focus on new diversity and inclusion initiatives, as well as delegates view of the expected effects of short term contracts. Ethics: culture of trust and business focus Workshop led by the chairman, Iain Thomson In creating effective frameworks, HR functions have to consider the aim or focus of the business to ensure they are aligned with the strategy of the central bank. At the same time, a central bank s HR policies and practices are the clearest demonstration to external stakeholders of the qualities it regards as important. This interactive session will discuss how HR departments can address these focuses in their frameworks. The speaker will then invite delegates to give short commentaries on any aspects of trust, business focus and ethics relevant to their respective situations. It is a very good forum to share experiences by central banks of different countries and learn best practices from each other Simanchala Sahu, Deputy General Manager, Reserve Bank of India
Thursday 17 September Advancing Core Skills Human Resources: Facilitating Change and Performance Compensation: sustained contribution in pay reviews Renée Fullerton, Assistant Director, Wellness and Employee Relations, Bank of Canada The unique nature of central banks makes benchmarking at the corporate level far from straightforward. This can be mirrored at the individual employee level too, often rendering pay reviews a formality. This session, in the form of a casestudy, will look at how her institution is restructuring its total compensation scheme to demand more from managers in terms of evaluating employees sustained contribution and actively including this in pay reviews. The group will discuss lessons that can be learnt from the experience, including work to identify industries of comparison for central banking. How to develop agile and useful HR systems Workshop led by the Chairman, Iain Thomson The chairman will introduce current thoughts on costs and ethics, along with effectiveness and efficiency, surrounding the four key areas of HR activity: recruitment, training and development, pay levels, and performance management. Delegates will then be invited to consider ways to make these four areas more agile and useful, particularly for busy line managers and the central bank as a whole, before developing some practical ideas to take back to their own central banks. Rethinking data: making HR more measurable Milada Hrda, Executive Director, Human Resources, Czech National Bank Talent analytics and Big Data are now must-have capabilities in HR. As the landscape of central banking is transforming increased focus is given to assessing the roles of staff. As a result, data about people and their performance becomes ever more critical. This session will address the value of systemisation particularly in large central banks and whether dominant culture favours it. The speaker will discuss the need to balance hard and soft HR information and data about staff along with equipping line managers with the ability to meet the demands of any chosen systemisation and their roles in the every day, and hands on management of staff. Reacting to change: recruiting for new functions Speaker from the Central Bank of Trinidad and Tobago (invited) In responding to change, new roles are often created within a central bank. HR functions are pressed to stay ahead the change curve by recruiting for new skillsets, usually requiring hiring and training for senior level members of staff. Looking for such individuals poses its own challenges, firstly in identifying skill sets needed and secondly in terms of external salary matching, training and their career management. The speaker will talk on his experiences from change conducted within his institution and on how HR functions can anticipate changes and respond rapidly wherever possible. Past attendees include: Bank of Algeria Reserve Bank of Australia Austrian National Bank Central Bank of Bahrain Central Bank of Barbados Bermuda Monetary Authority Central Bank of Bosnia & Herzegovina Central Bank of Brazil British Virgin Islands Financial Services Commission Brunei Currency and Monetary Board Bank of Canada Central Bank of Colombia Czech National Bank National Bank of Denmark Central Bank of Ecuador Banque de France Central Bank of the Gambia European Central Bank Bank of Ghana Hong Kong Monetary Authority Central Bank of Hungary Reserve Bank of India Bank Indonesia Bank of Italy Bank of Jamaica Central Bank of Kenya Bank of Korea Bank Negara Malaysia Maldives Monetary Authority Reserve Bank of New Zealand Central Bank of Nigeria Norges Bank Central Bank of Oman State Bank of Pakistan Bank of Papua New Guinea Central Bank of Paraguay Central Bank of the Philippines Central Bank of Qatar National Bank of Romania SAMA Bank of Sierra Leone Monetary Authority of Singapore South African Reserve Bank Bank of Spain Central Bank of Sri Lanka Sveriges Riksbank Swiss National Bank Bank of Tanzania Bank of Thailand Bank of England Federal Reserve Bank of New York Bank of Zambia Federal Reserve Board Central Bank of Congo Deutsche Bundesbank
Cambridge, 2015 Friday 18 September Ensuring Corporate Responsibility Rethinking the HR brand: corporate glue, organisational conscience and/ or partner Jacquie Findlay, Director and Senior Partner, HR4U Ltd. This session will consider the roles HR can play when external shocks or conflict, increasing specialisation and the reduction of staff numbers create tensions, which may call into question the central bank s identity and values. HR is in a unique position to bring together departments which may traditionally have different outlooks. In addition, HR may need to act as the conscience for the central bank when ethical, strategic balance, win-lose issues between departments, or group or individual employment law problems arise. As a mediating force there are a variety of tools available, and the speaker will address how these can be effectively deployed. The session will conclude with discussion of how HR can raise its profile within the institution. Human resource audit preparing HR for a tougher world Jacquie Findlay An HR audit can be a useful tool to assess HR Functions contribution to the achievement of organisational goals and to highlight where any changes of focus and priorities in HR work may need to be addressed. Good HR audit engages senior line management, and also focuses on the effect of HR practices on individual staff, making them feel valued and helping to bridge the gap between management and employees. This session will invite delegates to discuss how effective their organisation is at maximising the contribution of the HR Function. The speaker will outline the auditing process and how this can promote change and creativity within an institution. Particular time will be allowed for consideration of this in institutions undergoing change, considering a change in vision, or facing external pressures. Course conclusion: formulating action plans Roundtable discussion led by the chairman, Iain Thomson The day and the course will conclude with a session led by the chairman through a review of key points from presentations and debate. The aim will be to compile the elements to build and assess a value proposition for the HR function within the central bank. Delegates will be encouraged to pool their thoughts and prepare action plans to take back to their home institutions. CBP s Autumn Series 2015 features the following seminars: Risk Management for Central Banks Government Debt Management: New Trends and Challenges Effective Oversight of Financial Market Infrastructures Financial Regulation and Supervision: Design and Implementation IT Governance and Strategy for Central Banks Library and Knowledge Management: Supporting Innovation and Mission Financial Independence, Reporting and Accountability for Central Banks Communications and External Relations for Central Banks Economic Analysis for Macroprudential and Monetary Policymaking Human Resources: Facilitating Change and Performance The Changing Framework of Monetary Operations and Collateral Management Legal Risks and Good Governance for Central Banks
Human Resources: Facilitating Change and Performance Booking details Course fee: 3,000 4-day (3 nights) residential course Course fee includes: en-suite accommodation, meals, refreshments, course documentation and a complimentary copy of the most recent issue of the Central Banking journal. Substitute delegates can be accepted should the registered delegate be unable to attend; please let us know prior to the event. How to book There is a booking form overleaf. Please use one of the following methods to book your place: Online: www.centralbanking.com/cambridgebr Call: Clare Hope on +44 (0) 207 3169152 Email: conference@centralbanking.com Fax: Attention of Central Banking Events to +44 (0)207 504 3730 Post: Central Banking Publications Incisive Media 28 29 Haymarket London SW1Y 4RX, UK About Central Banking Publications About Central Banking Publications Central Banking Publications events division is the leading independent organiser of public policy seminars/training courses for the official sector. Since 1999, CBP has hosted roundtable seminars and training courses for over 5,000 senior policymakers from central banks, ministries of finance and financial regulatory agencies around the world. Senior officials from more than 140 countries have attended these meetings over the past decade and a half. The Venue Christ s College, St Andrew s Street, Cambridge, CB2 3BU, UK Christ s College is one of England s oldest university colleges and traces its origins back to 1439 when it was founded by William Byngham as God s house and adopted by King Henry VI. The college is conveniently situated in the heart of Cambridge surrounded by all the historical sites, and is one hour by train from London.
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