Leadership and Management: Managing Change, Culture and Diversity in a volatile environment
Leadership and Management: Managing Change, Culture and Diversity in a volatile environment
Agenda
Understanding the new demands facing central banks
14:00 – 14:30
Leadership and Management Post Pandemic Course Introduction
Course introduction session led by the chair
- Introductions and welcome from the chairperson
- Overview of the training course
- Discussion of the delegate expectations
Janet Cosier is the former Chief Risk Officer and Adviser on Strategic Planning at the Bank of Canada. She continues in her capacity as the Chair of the Board of Directors of the Canadian Payments Association. She has served in a variety of functions including comptroller and chief accountant, as well as chief internal auditor, before being appointed adviser to the governor. She has provided technical assistance to various central banks in the areas of strategic planning, risk management, governance and financial reporting. Before joining the Bank of Canada, she worked with the Office of the Auditor General of Canada and with the Department of Industry, Trade and Commerce. Mrs Cosier holds degrees from York University and the University of Windsor in mathematics, computer science, accounting and financial management.
14:30 – 15:30
Transformation of the culture and identity of central banks in today’s market
- The response of central banks to recent crises: staffing, technology and ways of working
- How has central bank communication been forced to innovate by the pandemic and high inflation?
- What steps have central banks leaders taken to ensure their organisations remain adaptable in the future?
- How are the current geopolitical tensions and on-going Covid-19 crises impacting central banks?
Sheila Mmbijjewe MBS, ACCA (UK) was appointed Deputy Governor of the Central Bank of Kenya with effect from 19th June, 2015. She holds a BA in Accounts and Finance and is a Chartered Accountant England and Wales.
Sheila was the first woman in Kenya to be appointed as an executive director of a publicly quoted commercial bank. She has worked in the commercial banking sector in Kenya, the Monetary Policy Committee of the Central Bank of Kenya, the Financial Reporting Centre of Kenya, Pricewaterhouse Kenya and Deloitte Touché Kenya. More recently Sheila became the first Kenyan woman to be appointed to the Board of a large international publically quoted company.
Sheila was a founding member of the Monetary Policy Committee in Kenya and the Crime and Anti- Money Laundering Act Advisory Committee of Kenya. She has been a director of the Capital Markets of Kenya, the Disclosure Committee of the Capital Markets in Kenya and the Information and Technology Committee of the Nairobi Stock Exchange, Old Mutual Insurance Company Kenya amongst others.
In 2008 she was awarded the Moran of the Burning Spear (MBS), a presidential medal for service to her country.
15:30 – 15:45
Coffee break
15:45 – 16:45
From suptech to CBDC – how fintech is changing central banking
- Opportunities for fintech to enhance performance of core functions
- Overview of how fintech is impacting central bank mandates
- Discussion: how can central banks recruit and retain top fintech talent?
- What are the key fintech challenges for central banks and how can they meet them?
Stephen Mwaura
Chairman, Fintech Institute & former head of national payments systems
Former Central Bank of Kenya
Stephen is an international consultant with broad expertise for over 25 years in digital financial services, payment systems, central banking practices and legal and regulatory frameworks. Prior to working as an International consultant, Stephen was in charge of the National Payments System division at the Central Bank of Kenya, where he championed financial inclusion initiatives in Kenya- key among them was the globally recognised M-Pesa platform run by Safaricom which currently has 27 million subscribers, equivalent to a penetration rate of 75% in mobile money sector.
Stephen has considerable experience working with a wide range of stakeholders in the digital financial world (Telecommunication firms, Banks, donor organisations, Treasury, other regulators). At a regional level, he has extended his leadership expertise in the harmonisation of various initiatives at an East Africa Community (EAC) level. At an international level, he is a regular contributor and an acclaimed global speaker at both International Telecommunications Union (ITU) and Alliance for Financial Inclusion (AFI) fora. In addition, he has excellent research capabilities and is frequently requested to carry out peer review assignments and book reviews for colleagues in the industry
16:45 – 17:15
Networking break
17:15 – 18:15
Navigating the tides of a volatile environment through servant leadership
Mr Odean White, JP, M.Sc. Economics, B.Sc. Actuarial Science (hons) is a career banking & finance professional with almost 20 years' experience within the Jamaican financial sector. His passion for risk management was cultivated during stints at two of the Caribbean's leading financial institutions, where he played key roles in the operationalization of their asset-liability and enterprise risk management frameworks.
Mr White is currently the Chief Risk Officer at Bank of Jamaica, and enjoys sports, reading and spending time with his family. He is married to Alysia and together they have three children.
Resourcing for the future: greater efficiency, stronger identity
14:00 – 15:00
Central Banking’s Got Talent! - how can central banks attract, nurture and retain new talent?
- Key ways to implement hybrid working and helping employees to adapt
- How can central banks attract, retain and develop talent through the way they work?
- Discussion: what do participants think the future of work in their own organisations will look like?
- How has the recent crises accelerated the adoption of new ways of working?
Economist by education, central banker by heart. Throughout his 25+ year career in central banking, Mugur Tolici has held numerous roles in both core and enabling functions within the National Bank of Romania, ranging from head of monetary policy division, adviser to the deputy governor, head of the governor's office, deputy director of cash department and his most recent tenure as HR director. In this role, he has successfully lead one of the most transformational projects of the bank, implementing a new people management system aligned to international best practices and centered on bringing to the forefront NBR’s values: integrity, commitment, performance and cooperation. His career also includes international experiences, most recently the International Monetary Fund in Washington DC, serving as a Senior Adviser for the Executive Director (Dutch-Belgium Constituency).
Passionate for teaching, he also has a rich academic experience as lecturer at the Bucharest University of Economic Studies and National University of Political Studies and Public Administration.
15:00 – 15:15
Coffee break
15:15 – 16:15
Workshop part 1 – inclusive leadership: the way forward – challenges, opportunities, benefits and risks
- Current pressures and challenges to leadership and management in central banks
- Crucial skills and qualities required for successful and effective leadership
- The role of leaders in managing and maximising performance in times of change
- Impact of increasing diversity in leadership and management positions for central banks
Janet Cosier is the former Chief Risk Officer and Adviser on Strategic Planning at the Bank of Canada. She continues in her capacity as the Chair of the Board of Directors of the Canadian Payments Association. She has served in a variety of functions including comptroller and chief accountant, as well as chief internal auditor, before being appointed adviser to the governor. She has provided technical assistance to various central banks in the areas of strategic planning, risk management, governance and financial reporting. Before joining the Bank of Canada, she worked with the Office of the Auditor General of Canada and with the Department of Industry, Trade and Commerce. Mrs Cosier holds degrees from York University and the University of Windsor in mathematics, computer science, accounting and financial management.
16:15 – 16:45
Networking break
16:45 – 17:45
Climate risk and the ESG agenda: impact and implications for central banks
- Climate change as the emerging source of local and systemic instability
- Impact and implications for monetary policy strategy, conduct and implementation
- Overview of new roles and responsibilities for central banks in the areas of green finance and ESG
- Discussion: how are central banks tackling climate risk in the participants’ home jurisdictions?
Chair: Audun Grønn
Former IMF executive director, former special advisor to the Governor, Norges Bank
Norges Bank, International Monetary Fund (IMF)
Born 1953. Mr. Grønn holds a graduate degree in economics (cand.oecon. 1979) from the University of Oslo. Work experience since 1980 includes various positions at Norges Bank, including Director of International Department, Director of Statistics Department, and Special Advisor to the Governor. Mr. Grønn spent altogether eight years at IMF’s Executive Board in Washington DC, as Senior Advisor (1989-1992), Alternate Executive Director (2011-2013) and Executive Director (2013-2016), as well as one year at the ECB in Frankfurt as national central bank expert, monetary policy (2005-2006). He retired from his position at Norges Bank in July 2021, but continues as a consultant on a part-time basis.
Becoming a better organisation: challenges, strategies and benefits
14:00 – 15:00
Measuring performance in central banks
- What are the fundamental measures of performance and institutional credibility?
- Best-practice activities in central bank performance measurement
- Key issues around applying commercial sector performance management techniques in central banks
- Discussion: what are participants’ views on the best approaches to performance measurement?
Chair: Kenneth Sullivan
Director
Central bank consulting and former senior financial expert, International Monetary Fund
Kenneth Sullivan was until 2015 a senior financial sector expert with the International Monetary Fund. Previously, he spent seven years at the Reserve Bank of New Zealand as chief manager of both Accounting and Corporate Services where the bank won accounting prizes for the transparency of its published financial statements. Prior to that he provided a financial management information system consultancy, held senior accounting roles in insurance and wholesaling, and worked in education. Starting in 1993 he served as accounting expert on IMF missions, providing accounting technical assistance to central banks around the world, organized and presented at central bank accounting workshops and participated in Financial Sector Assessment Program and Safeguard Assessment
15:00 – 15:15
Coffee break
15:15 – 16:15
Workshop part 2 – inclusive leadership: the way forward – challenges, opportunities, benefits and risks
- Current pressures and challenges to leadership and management in central banks
- Crucial skills and qualities required for successful and effective leadership
- The role of leaders in managing and maximising performance in times of change
- Impact of increasing diversity in leadership and management positions for central banks
Janet Cosier is the former Chief Risk Officer and Adviser on Strategic Planning at the Bank of Canada. She continues in her capacity as the Chair of the Board of Directors of the Canadian Payments Association. She has served in a variety of functions including comptroller and chief accountant, as well as chief internal auditor, before being appointed adviser to the governor. She has provided technical assistance to various central banks in the areas of strategic planning, risk management, governance and financial reporting. Before joining the Bank of Canada, she worked with the Office of the Auditor General of Canada and with the Department of Industry, Trade and Commerce. Mrs Cosier holds degrees from York University and the University of Windsor in mathematics, computer science, accounting and financial management.
16:15 – 16:45
Networking break
16:45 – 17:45
Identifying and managing conduct and ethical risks on an executive level
- Impact and implications of conduct and ethical issues on central banks’ reputation
- Important elements of a robust risk culture: people, systems and processes
- How to design and implement an effective conduct risk framework
- What are the important conduct and ethical risks for central banks?
Demonstrating value to shareholders and stakeholders
14:00 – 15:00
Embracing equality, diversity and inclusion
- How can central banks better attract and retain members of under-represented groups?
- The benefits of increasing levels of diversity for policy-making
- Successes and challenges from central banks that have adopted formal diversity policies
- What are the obstacles to greater diversity and inclusion in central banks?
Cristina Bodea is a Professor in the Department of Political Science at Michigan State University. Bodea joined the MSU faculty in 2006, after earning a PhD degree from the University of Rochester (2006) and following a post-doctoral research fellowship at Princeton University. From 2007 to 2009 she has been on leave from Michigan State, working as an Economist at the European Central Bank in Frankfurt, Germany. Bodea’s research interests are in International and Comparative political economy; Gender and political economy; and Political conflict. Her work has been published or is forthcoming at the Journal of Politics, British Journal of Political Science, International Organization, European Journal of Political Economy, Governance, Public Choice and Economic and Politics. She also has working papers published by the World Bank and the European Central Bank
15:00 – 15:15
Coffee break
15:15 – 16:15
Designing and developing a central bank brand
- How can branding create a strong, positive perception of a central bank to its stakeholders?
- Developing a consistent brand throughout all communications
- Case study on the new visual identity of the Bank of England
- Challenges and opportunities of a redesign
- How an in-house creative team works / how to set it up / the importance of it
My name is Matteo and I am an award-winning Creative Director and Brand designer. In my career, I had the pleasure to work for international clients, blazing start-ups, and advertising networks, shifting the way companies present themselves to their audiences.
In 2017 I started working at the Bank of England in the Communications Directorate, guiding the in-house comms team on brand, design and communications. While working at the Bank, I’ve also been consulted by a number of central banks on branding and creative communications.
I recently directed and introduced a visual identity system for the Bank of England, which has soon started paying back in a number of ways that exceeded my expectations.
My current goal is to transfer my vision to the Comms team, empowering them to make steady improvements to the way the Bank communicates visually and verbally. And if the opportunity comes, I would love to guide other central banks towards the same game-changing results
16:15 – 16:45
Networking break
An opportunity to share experiences with your fellow participants.
16:45 – 17:45
Leadership & Management: closing remarks and delegate action plans
Concluding session led by the chair
- Summary of the course
- Discussion of the observed trends and case studies
- Application of learning points in the participants’ home organisations
- Preparation of action points
Janet Cosier is the former Chief Risk Officer and Adviser on Strategic Planning at the Bank of Canada. She continues in her capacity as the Chair of the Board of Directors of the Canadian Payments Association. She has served in a variety of functions including comptroller and chief accountant, as well as chief internal auditor, before being appointed adviser to the governor. She has provided technical assistance to various central banks in the areas of strategic planning, risk management, governance and financial reporting. Before joining the Bank of Canada, she worked with the Office of the Auditor General of Canada and with the Department of Industry, Trade and Commerce. Mrs Cosier holds degrees from York University and the University of Windsor in mathematics, computer science, accounting and financial management.
Chair
Chair: Janet Cosier
Former advisor on strategic planning and risk management
Former Bank of Canada
Janet Cosier is the former Chief Risk Officer and Adviser on Strategic Planning at the Bank of Canada. She continues in her capacity as the Chair of the Board of Directors of the Canadian Payments Association. She has served in a variety of functions including comptroller and chief accountant, as well as chief internal auditor, before being appointed adviser to the governor. She has provided technical assistance to various central banks in the areas of strategic planning, risk management, governance and financial reporting. Before joining the Bank of Canada, she worked with the Office of the Auditor General of Canada and with the Department of Industry, Trade and Commerce. Mrs Cosier holds degrees from York University and the University of Windsor in mathematics, computer science, accounting and financial management.