Keynote Address: Leadership and management in the twenty-first century
Peter Nicholl
Governor of the Central Bank of Bosnia and Herzegovina

The changing and volatile pressures that all organisations face have led to a growing need for effective leadership, but also to uncertainty as to what constitutes strategic leadership and management - and how to deliver them. Central banks and regulatory agencies have always relied on sound management to achieve organisational, strategic and operational success. Now, however, and in the future, special care and attention is essential in developing leadership and top management potential so as to be able to meet these challenges, and to deliver effective services in this context. Peter Nicholl draws on his unique experience and expertise in illustrating these issues, drawing attention to the key priorities now facing the central banking sector, and identifying the qualities necessary for enduring success and effectiveness.

Seminar session: the nature of leadership
Jo Owen
Director, TeachFirst with Peter Nicholl and Richard Pettinger

In this session, delegates will identify the issues in their economic, political and cultural environment that demand a leadership response. There is the first introductory group work session, in which the key skills and qualities are identified, together with barriers to progress and development. These are then used to inform the further sessions of the conference, enabling specific issues raised by delegates at this stage to be addressed by subsequent speakers.

Strategic leadership in times of great change
Professor René Smits
former General Counsel, the Netherlands Bank

René Smits addresses the primary issues arising as the result of the evolving roles and functions of central banks and regulatory agencies. Many institutions with hitherto assured and well-understood roles have found these called into question as the result of political and economic pressures. This session addresses the nature of leadership and senior management within the central banking and regulatory system as a whole, and explores responses to specific issues raised by delegates.

Identifying and developing tomorrow's leaders
Peter Nicholl
Governor of the Central Bank of Bosnia and Herzegovina

Peter Nicholl draws on the course material and contributions to date to discuss the role and function of the governor or president. The particular issues debated by the group are: the need for sound principles of direction and management; the importance of the cultural, political and economic background; and the ability to be able to respond effectively to change. Peter Nicholl will argue that, although there are differences in the situations that he has faced, the similarities facing central bank governors in different countries far outweigh the differences. Effective leadership and strength of role makes it possible to achieve lasting success in divergent conditions.

Managing relationships
Richard Pettinger
University College London

Using the material produced by delegates and the contributions from each of the speakers thus far, this interactive session analyses the varied experiences of the delegates. The group is then tasked to relate the results of these analyses to the central issue of developing effective leaders and leadership for the enduring success of the central banking and regulatory agency sectors.

Assessing priorities and pressures
Professor René Smits
former General Counsel, the Netherlands Bank

Modernisation and development programmes in central banks and regulatory agencies require leaders to communicate a clear sense of purpose and direction. The personnel involved in such programmes need to be involved and effective, both operationally, and from the point of view of their own professional and occupational confidence. René Smits leads a debate on the main drives, restraints, pressures and pitfalls present in the implementation of a programme of change, and the specific concerns raised by delegates.

Implementing and directing change and development in organisations
Richard Pettinger

Governors, presidents and top management groups need not only a clear vision but also the ability to create a strong, dynamic institutional framework for realising this vision in practice. Like all organisations, central banks and regulatory agencies need to be able to respond to political, social and economic demands. This session concentrates on the practical mechanisms to develop organisational structures, cultures, reporting relationships, career paths and work content that are suitable and effective in particular sets of circumstances. The aim must be to implement change so as to effect a lasting difference in the culture of the organisation.

Designing strategic change programmes
John Mendzela
Director, Mendhurst Associates

Central banks and regulatory agencies, like all organisations, tend to respond incrementally to the changing demands of their environment. A programme of genuinely strategic change - sustainable change with long-term focus and relevance - needs careful design to maximise benefits and manage risks. This session will outline a structured approach developed around the changing roles of central banks and concentrate on the practical steps involved in planning and executing change in central banks and regulatory agencies.

Case studies in leadership and executing change
Richard Pettinger

This session concentrates on specific issues raised by delegates in the previous sessions, with a view to developing strategic approaches to leadership and the management of change – approaches that are practicable and feasible within the specific context of the delegates' own institutions. Additionally, there is scope to compare and contrast different approaches to core and common problems from different institutions, and also to assess the application of initiatives taken from organisations outside the sector.

Making a strategic change programme succesful
John Mendzela

Implementation of strategic change is a challenging process that makes demands on leaders, managers and staff. Central banks and regulatory agencies must ensure that they remain externally effective regardless of internal pressures. Commitment has to be sustained over time and new management and information systems will be needed. This session will discuss obstacles a strategic change program is likely to encounter and the tools and techniques for overcoming those obstacles.

Practical performance management
Elisa Mendzela
Mendhurst Associates

All organisations strive to get the best from their people. While the design of performance appraisal systems is important, effective practical use of the performance management process is even more important. This session will use discussion, role-playing and critiquing to focus on special issues that central banks and regulatory agencies face. How to effectively apply performance management to the most senior levels of the organisation will receive specific attention.

Managing constraints
Richard Pettinger

This session, in seminar format, will enable those attending to begin to reflect on the wide range of material presented during the conference. The purpose is to concentrate on developing positive and committed attitudes and values. People working within the central banking and regulatory body system need to have confidence that the sector will deliver their aspirations, as well as providing an excellent and enduring high quality service. This session will both identify specific constraints, and also present a variety of ways in which these might be tackled.

Closing session: looking forward and communicating achievement
Group discussion on lessons learn

The purpose of this session is to review and summarise the progress made by delegates, 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. This is then followed by a short closing address. This will include a special section on how delegates can most effectively communicate the achievement of their institutions to outside audiences, parliamentary committees, fellow central bankers and the general public.