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Dear
Delegate,
In
responding to the growing need among central banks and regulatory
bodies to keep up with leadership and management practices
used by businesses in the twenty-first century, Central
Banking Publications has organised a very ambitious but
practical training course. This aims to equip delegates
with many of the essential tools that they can use in practice
in their institutions.
Many
would say that providing leadership and adequate training
for senior personnel is the biggest task for governors, presidents
and their top management teams. It is a task that many institutions
have not fulfilled well or adequately in the past. Now all
public institutions, or those answerable to parliaments and
heads of state, must be accountable, cost-effective and able
to meet rigorous and measurable tests of performance. All
come under the intense scrutiny of the press and the public.
How
should the leaders of these institutions meet these multiple
challenges is the issue addressed by the new training course/seminar
offered by Central Banking Publications.
In
designing this course, Central Banking is building on its
well-established annual training course/seminar series held
annually at Cambridge. Over the last four years, this series
has attracted over 400 top central bankers and financial regulators
from over 80 different countries. The new leadership training
course/seminar is to be held in the regal setting of Cumberland
Lodge, located in the heart of the famously picturesque Windsor
Great Park.
Central
bank management is increasingly perceived to be failing
to run its institutions innovatively rather than following
tradition that has been left far behind by circumstance.
Moreover, prospective leaders are not being prepared appropriately
or adequately to take charge.
This
training course will provide a lively and engaging forum
for discussion of the leadership challenges facing central
banks today, and will bring together a rich diversity of
leading experts and practitioners chaired by Richard Pettinger
from the Management Studies Centre of University College
London.
Delegates
will have the added benefit of learning from each other,
as the wide variety of nationalities present provides the
rare opportunity for you to compare and contrast your differing
expertise, approaches and knowledge with peers in other
countries.
The
course reflects the independent standing of the course sponsors
which allows and positively encourages the free and open
discussion of important and sensitive issues. At the same
time, the limited size of the groups allows each individual
to contribute fully to discussions and derive maximum benefit
from participation. Also, the residential nature of the
course provides ample opportunity for informal discussion
outside the scheduled sessions.
We
very much look forward to meeting you in April.
Yours sincerely,
William Clarke, CBE, PhD
Chairman, Central Banking Publications
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Keynote
Speakers
Peter
Nicholl
Peter Nicholl was appointed governor of the Central Bank
of Bosnia and Herzegovina (CBBH) by the IMF in 1997, with
the approval of the presidency of Bosnia and Herzegovina.
Since then the CBBH has been established across the whole
country and has also introduced its own currency. In 1972
he joined the Reserve Bank of New Zealand where he worked
for 22 years. He was chief economist for five years and
deputy governor and deputy chief executive from 1990-95.
From 1995-97 he was executive director on the board of the
World Bank representing New Zealand, Australia, Korea, Cambodia,
Mongolia and seven Pacific Island nations.
John
Mendzela
John Mendzela plans and manages strategic business change
to achieve focus, direction and competitive advantage. From
1988-92 he was chief manager and business/management consultant
at the Reserve Bank of New Zealand. From 1992-4 he worked
as a worldwide full-time consultant at the IMF. Since 1995
he has been director of Mendhurst Associates Limited, based
in New Zealand. His technical background spans governance,
management, finance and accounting, information technology,
marketing, economics, and human resources.
Richard
Pettinger
Richard Pettinger is a lecturer in management at University
College London (UCL) and for the past four years has been
undergraduate course tutor at the Bartlett School (UCL).
His previous experience includes local government, Manpower
Limited and the CGMP Industry Training Board. He combines
lecturing with writing and is the author of a number of
books, including Introduction to Management, published by
Macmillan.
Professor
René Smits
René Smits was general counsel to the Netherlandsche Bank
between 1989 and 2001, overseeing legal advice or in-house
corporate affairs as well as special centralbank related
subjects, such as the preparation of EC banking regulations.
He has frequently lectured on banking regulation and EMU
before a variety of audiences including the universities
of London, New York, Leiden and Geneva. From January 2000
he has served as part-time professor of the law on economic
and monetary union (Jean Monnet chair) at the University
of Amsterdam. In November 2001, he was appointed director
of legal services of the Netherlands Competition Authority.
Jo
Owen
Jo Owen is founding director of Teach First, an innovative
programme to attract the UK’s top graduates into teaching
in disadvantaged London schools. Previously, he was strategy
partner for financial services at Accenture and before that
at Cap Gemini, where he built the firm in Japan and Asia.
He gained an MBA from London Business School, and has worked
at Procter & Gamble in brand management; he was also head
of research for the SDP in the British Parliament. He created
a new banking proposition, which was bought out by HBOS
and is now Bank of Scotland business banking. He is author
of the bestselling “Management Stripped Bare” and is currently
researching indigenous peoples worldwide to see what western
management can learn.
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:::Monday
14th April
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IDENTIFYING
CHALLENGES FOR LEADERSHIP IN THE CENTRAL BANKING/REGULATORY
SECTOR
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Opening
Reception And Lunch At Cumberland Lodge, Windsor Great
Park
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Challenges
to Leadership and Management in the Twenty-First Century
Peter
Nicholl
Governor of the Central Bank of Bosnia Herzegovina
The
changing and challenging present climate and pressures
have led many central banks to reappraise their roles,
testing leaders to the utmost of their ability. Central
banks and regulatory agencies rely on sound leadership
and management for organisational, strategic and operational
success. Special care and attention is also needed
to prime potential leaders for the uncompromising
environment surrounding official sector organisations.
Peter Nicholl draws on his experience as both governor
and deputy governor of the central banks of Bosnia
Herzegovina and New Zealand respectively, facing very
different management and cultural challenges – one
needing reforming, the other creating – and identifies
the common problems he faced and what he considers
to be the fundamental qualities necessary for success.
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Seminar
Session: the Skills and Qualities of Leadership
Richard
Pettinger
Management Studies Centre,University College London
Peter
Nicholl and Jo
Owen
Teach First
Here
the delegates will identify which issues in their
economic, political and cultural environment call
for a leadership response. Through a group discussion
this session will introduce and develop the key skills
and qualities required in all those placed in leadership
positions. Barriers to progress and development in
central banks are to be debated in this context, followed
by a short plenary session.
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:::Tuesday
15th April
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A
STRATEGIC APPROACH TO EXTERNAL CHALLENGES
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Strategic
Leadership in a Volatile World
Professor
René Smits
former General Counsel, the Netherlands Bank (invited)
As
the role of central banks and regulatory agencies
has evolved, the job of leading these institutions
has become more complex. Even agencies with well-defined
mandates and clear accountability structures must
struggle to define their role and carve out an institutional
remit. This session concentrates on the nature of
leadership and senior management within the central
banking and regulatory system as a whole, and how
economic and political uncertainty complicates this
task.
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Human
Resources – Developing Tomorrow’s Leaders
Jo
Owen
Director, Teach First
A former strategy partner for financial services at
Accenture, Jo Owen examines different styles of leadership,
addressing the importance of having the right people
in the right places, building a balanced leadership
team, and understanding where and when senior staff
can be at their most effective personally. The session
will look at using the right organisational control
mechanisms (information, structure, culture, process,
goals and skills) to achieve the right balance of
commitment and compliance. Also to be considered is
the need for leaders at all levels; how to spot, develop
and direct them, thus providing a solution for succession
planning and building an organisation capable of handling
rapid and potentially discontinuous change.
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Applying
Management Principles to the Official Sector
Peter
Nicholl
Governor of the Central Bank of Bosnia Herzegovina
Here
Peter Nicholl will develop the themes introduced in
the keynote speech and consider more closely the comparisons
between his experiences in the contrasting situations
of Bosnia and New Zealand, and consider to what extent
the principles of good management are transferable
across cultures and different levels of economic development.
He will show how, although there are differences in
the detail between the two situations he experienced,
the similarities are much greater and more important
than the differences. He will argue that with sound
basic management principles it is possible to achieve
success in divergent conditions.
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Developing
the Skills and Relationships Necessary to Manage Short
and Long Term Priorities
Presentations and Plenary
This
session is conducted in small groups. The purpose
is to draw on experiences gained in different parts
of the world in developing effective and successful
working relationships, patterns of behaviour, and
staff management practices. From this, a set of principles,
guidelines and action priorities and plans that are
known to be effective can be established. There are
two short summary sessions during the work. The key
outputs are group presentations and full discussion
and debate.
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:::Wednesday
16th April
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MANAGING
CHANGE – ASSESSING PRIORITIES AND PRESSURES
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Assessing
Priorities and Pressures in Change and Modernisation
Programmes
Professor
René Smits
All
change, modernisation and development programmes in
central banks, as in other organisations, require
a clear sense of purpose and direction with which
all those involved can be both comfortable and also
effective operationally. This session addresses some
of the main drives, pressures and pitfalls that have
been present in the sector overall.
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Leading
Change and Developing Organisations
Richard
Pettinger
Governors
and presidents and their top management groups need
not only a clear vision but also the ability to create
an appropriate institutional framework. In future,
central banks like all organisations need to become
flexible and dynamic in order to be able to identify,
address and respond to far-reaching social, operational,
technological and economic changes. This session concentrates
on the need to develop organisation structures and
reporting relationships that are suitable and effective
in particular sets of circumstances and which are
capable of being developed in the light of political,
social and economic pressures, even when these arise
at very short notice.
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Project
Management of Change
John
Mendzela
Director of Mendhurst Associates
This
session concentrates on practical steps involved in
planning and executing change in official sector institutions.
In many cases, the driving forces in change programmes
in the central banking sector are the political demands
for openness and delivery of tangible, measurable
results. This session looks at how a selection of
central banks, including institutions in developing
and transition economies have responded. Case studies
of particular reform initiatives demonstrate some
of the key intermediate objectives.
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ROUNDTABLE:
Case Studies in Change Management
Delegates
will be encouraged to relate the specific challenges
they have faced in their respective institutions in
order that they can contrast and compare their experiences
to identify common problems and evaluate the successes
and failures of the different methods they used for
tackling these problems.
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:::Thursday
17th April
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IDENTIFYING
AND OVERCOMING OBSTACLES
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Using
Management Information as an Impetus for Change
John
Mendzela
The
purpose of this session is to examine how financial
information can be used to help management and other
stakeholders evaluate the institution’s efficiency
and hopefully improve performance. Creating and effectively
using management information systems, in particular
those which deliver financial and budgetary information,
is a prerequisite and a catalyst for organisational
change. Better information can deliver accountability
to stakeholders, like parliamentary committees. In
addition, it enables the board and management at all
levels to monitor performance and it provides staff
and managers with the information they need to carry
out their functions.
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Staff
Development: Changing Attitudes, Values and Behaviour
Richard
Pettinger
It is only possible to be fully effective if staff
and the other stakeholders and political, social and
economic interests are engaged in the development
process. A key quality required of all leaders is
therefore to engage the spirit, attitudes, values
and commitment of those who follow them. A key priority
is the capability of developing the basic ethos of
both organisations and individuals so that the conditions
are created in which all this can be achieved.
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Seminar
Session: Working with Structures and Constraints
This session concentrates on developing attitudes,
values and behaviour among staff and other stakeholders.
People working within the central banking system need
to be both confident and comfortable within the system
required at present and for the foreseeable future.
It is also necessary to understand and be able to
address the problems of attracting and retaining staff
in many parts of the sector.
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Closing
Session: Looking Forward
Group discussion on lessons learnt
The
purpose of this session is to review and summarise
the progress made by those on the course, and the
key lessons learned. Attention is drawn to the need
to reconcile the main drives and pressures with what
is possible, and what is not possible, in particular
circumstances.
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