Enhancing
Central Bank Performance Through Strategic Management 4-day intensive residential programme,
5 - 9 September 2004
Venue: Christ's College, Cambridge
Course Director: Richard Pettinger, Management
Studies Centre, University College London
ENHANCING CENTRAL BANK PERFORMANCE
THROUGH STRATEGIC MANAGEMENT
As central banks throughout the world respond
to changing pressures on them by restructuring their activities
and re-defining their roles, and as they come under the glare
of public scrutiny, so they naturally pay more attention to
their performance. Standards are established, performance measures
defined, and management styles changed. Efficiency and accountability
have to be demonstrated to a sceptical public. Governing boards,
ministers and the media have to be assured that official organisations
are using resources in cost-effective ways.
Satisfying these multiple objectives requires
staff development, training and performance management of a
high order.
Practical issues such as the recruitment
and retention of appropriately qualified and experienced staff
lie at the heart of the challenge. Competition for key personnel
from the private sector make this increasingly difficult. Incentives
must be found to recruit staff and to develop their potential
through effective operations, management and training.
All this means that an effective strategic
management function is at the heart of an efficient modern central
bank or agency.
Accordingly, this year for the first
time, Central Banking's annual Cambridge training/seminar programme
includes a course on this range of topics.
Delegates
will experience the following benefits:
greater confidence in the advice they can offer to governors,
boards and directors on strategic planning issues
greater competence in establishing desired and required ways
of working;better ability to provide effective leadership in
staff management
imaginative ideas for developing appropriate culture, values
and attitudes, as well as skills and expertise within their
organisation
learning from the opportunity to compare one institution's policies,
perspectives and attitudes with those in other central banks/agencies
Workshops and discussions are held
in small groups to maximise interaction among delegates. The
presenters include central bankers with extensive practical
experience in dealing with strategic planning and performance
measurement as well as leading management authorities.
We look forward to welcoming you to Cambridge.
Yours sincerely,
Richard Pettinger
Course Director
Sunday 5th SEPTEMBER
Reception
Drinks and Welcoming Dinner
Monday 6th SEPTEMBER
OBJECTIVES
AND STRATEGIC PERFORMANCE
Introduction
and opening address Richard
Pettinger Management
Studies Centre, University College London
Central banks, of whatever size,
face burgeoning management challenges. They must focus
their efforts in order to deliver a range of public
policy goals. This session will draw out the goals
and priorities of those attending and establish aims
and objectives for the meeting.
Establishing
priorities and objectives for central banks Aura Laento Head
of Personnel, Bank of Finland
Central banks are all too
often tasked with a multiplicity of objectives, priorities
and targets. Resolving these into a strategic plan,
and marshalling the resources to effect it, is not
straightforward. This session examines the constraints,
challenges and pressures that have to be addressed,
and the external factors that have to be considered,
to achieve this. In addition, the group will discuss
the importance of human resource management in this
process.
Strategic
planning to maximise resources Jo
Owen Director, Teach
First
This hands-on session will
review and evaluate the toolkit of approaches developed
for strategic planning, and then examine how these
can be implemented in a central banking context. Issues
discussed will be sources of staff and expertise;
political and financial constraints; developing strategic
plans; integration with organisational attitudes and
behaviour; and managing a service in times of great
change.
Performance
optimisation and institutional/corporate culture Rogier Offerhaus
Founder
and Director, ROI Leadership Training and Coaching
Appropriate corporate culture
provides the foundation for institutional effectiveness.
This session establishes how the culture, standards,
attitudes and values of the central banking community
can adapt to new demands. Attention is given to core
principles of equality, respect, value; and to specific
human resources challenges including the functions
and value of recruitment selection, development and
reward, and staff appraisal and discipline.
Tuesday 7th SEPTEMBER
INTERNATIONAL BEST
PRACTICE
Identifying
"best practice" Fleming Farup Head of Personnel
and Organisation, Danmarks Nationalbank
In working to define "best
practice" in strategic planning it is important to identify
the particular challenges faced by central banks of
different sizes operating in different economic environments.
While considering concept of "best practice" this session
also covers the professionalisation of management and
the role and function of leadership within the institution.
Strengthening
internal communications Kathy Sierra
Human Resources Vice-President, World Bank (invited)
The institutional cohesion
and culture of an organisation can be developed by attention
to internal communication procedures. Regardless of
the size of an institution, it is important to ensure
that duplicative hierarchies and inflexible communication
procedures do not stifle business processes. This session
examines how different internal communications strategies
can improve performance.
Optimising staff
performance: bringing central banks in line with the
private sector? Jim Cummins Human resources
and planning, Bank of Ireland (invited)
Can a private sector performance
culture be adopted without undermining the official
sector requirement for a distinctive staff ethos? This
session works on the theme of how central banks can
optimise human resources management, moving closer to
international best practice but also perhaps to private
sector practice. It also discusses the practical challenges
brought up by internal change and how they can be met.
Wednesday 8th SEPTEMBER
IMPLEMENTING PLANNING,
MEASURING PERFORMANCE AND MAINTAINING INTEGRITY
Rewards
and benefits to retain and motivate key staff Berend van Baak Director of
Personnel, European Central Bank
Many central banks face stiff
competition in recruiting and retaining staff. Private
sector companies are all too willing to poach experienced
personnel. Central banks must work hard to offer different
rewards and incentives. This session analyses the aims,
objectives and intended outcomes of pay, reward and
retention policies. Also considered are: job and work
security; the public service ethic; the relationship
between pay and performance; what to reward and how
to reward; individual performance plans; bonuses and
enhancements; leave/holiday policies; and other benefits.
Ethical considerations
in managing human resources Speaker to
be confirmed
While implementing strategic
planning it is important to maintain integrity. Central
bankers and regulators must work with the private sector
but maintain a special official sector ethos that safeguards
their integrity, independence and confidentiality. The
reputational risks at stake make it is essential to
bear in mind these specific requirements of corporate
culture when devising policies in other areas to be
implemented.
Implementing
planning and measuring performance - Workshop/seminar Richard
Pettinger Management Studies
Centre, University College London
Practical solutions can often
be best reached through group discussion of the key
planning practices that have been presented. This interactive
session is designed to help delegates devise and implement
strategic plans, and allow the group to benefit from
approaches adopted by similar institutions. The absence
of profitability as a measure of performance means that
different ways must be found of appraising the performance
of individual staff, and different ways of measuring
performance of the whole institution. Drawing on the
insights that have already been given, delegates will
work together to establish alternative ways that performance
may be measured to motivate individual employees to
excel.
Thursday 9th SEPTEMBER
DEVELOPING STRATEGIC
PLANNING AND PERFORMANCE MANAGEMENT POLICIES
Maximising the value
of strategic planning and human resources management
through recruitment and training Elizabeth H. Roberts Director
of the Financial Stability Institute, Bank for International
Settlements
Central banks are always
faced with the challenge of hiring, training and retaining
qualified staff. This session will address in particular
the hiring and training of staff and the options available
to central banks. It also discusses the importance
of training and motivating staff to gain maximum output
from them. Developing
strategic planning in a changing environment - a course
review Richard
Pettinger Management
Studies Centre, University College London
This session opens with a discussion
of how organisational, collective and individual performance
can be developed and implemented within central banks
and supervisory agencies, drawing on lessons learned
throughout the conference.
HOW TO REGISTER
Places on these seminars are strictly limited
and allocated on a first-come first-served basis.To register for any
of these courses, please download and print the Registration
Form (or the final page of the PDF version of the relevant
course programme), fill in the details as appropriate and fax to Central
Banking Publications on +44 20 7388 9040
greater confidence in the advice they can offer to governors,
boards and directors on strategic planning issues