Range of practice

1. PREPARED BY IBFI –JEAN-LUC
QUÉMARD AND THIERRY CUSSON
RANGE OF PRACTICE IN
TRANSFORMING A CENTRAL BANK:
PARTICIPANTS’ ANSWERS TO QUESTIONNAIRE
22 CENTRAL BANKS
11-13 SEPTEMBER 2017 SEMINAR
Public

2. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 2TRANSFORMING A CENTRAL BANK
2,8
2,5
2,3
2,2
100,00% 150,00% 200,00% 250,00% 300,00%
Do you think that your central bank is now seen as a
more/less/equally important as an economic actor
than it was before 2007? (2 = equal)
Do you think that public trust or faith in your central
bank is higher/similar to/lower than was the case
before 2007?
Do you think your central bank will be smaller,
unchanged or larger in size, in terms of numbers of
staff, in 10 years from now?
Do you attach a low, medium or high probability to a
material change in your central bank’s current
mandate, for its main functions within the next 10
years?
BIG PICTURE
- = +

3. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 3TRANSFORMING A CENTRAL BANK
STRATEGIC PLANNING
65%
72%
77%
55,00% 60,00% 65,00% 70,00% 75,00% 80,00%
Are there quantitative objectives in terms of budget or
staff numbers?
Are there monthly or quarterly follow-up meetings?
Does your Bank have a multi-year strategic plan ?

4. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 4TRANSFORMING A CENTRAL BANK
STRATEGIC PLANNING
18,3
4,6
33,8
0 10 20 30 40
How many projects/ objectives/ main strategic
orientations does the plan encompass?
How many years does the plan cover?
How many managers does the multi-year plan explictly
involve?

5. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 5TRANSFORMING A CENTRAL BANK
STRATEGIC PLANNING
52%
14%
10%
24%
Is the approach top-down, bottom-
up, collaborative, focused towards
stakeholders, etc?
NA Mix Top-down approach Collaborative

6. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 6TRANSFORMING A CENTRAL BANK
HR FUNCTION
5,9 % of total
number of
employees
91%
76%
76%
67%
57%
52%
50%
45%
36%
33%
19%
24%
18%
9%
0,00% 20,00% 40,00% 60,00% 80,00% 100,00%
Is employee performance measured/appraised?
Are there Competency Profiles / Is there competency-
based HR management?
Is internal job rotation encouraged?
Is the HR function considered as playing a partnership role
for operational managers?
Are there 'career paths' for experts ? Is there a career
management framework?
Is there a multi-year HR strategy?
Is the effectiveness of the HR function measured /
assessed at your Bank?
Is there a talent management policy?
Do senior managers have individual objectives and bonus
schemes?
Salaries for mid/low-level employees are higher at the
Central Bank than at commercial banks.
Is there a proactive promotion policy for women?
Salaries for managers are higher at the Central Bank than
at commercial banks. In addition, focus not just on…
Is there outsourcing of some HR functions?
Is working by remote (from home) allowed/encouraged?

7. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 7TRANSFORMING A CENTRAL BANK
EDUCATION LEVEL
5%
66%
0,00% 20,00% 40,00% 60,00% 80,00%
Educational level of managerial staff: what
percentage of managers hold a PhD?
Educational level of employees: what percentage of
employees are university (Masters or Bachelor-
level) graduates?

8. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 8TRANSFORMING A CENTRAL BANK
CHANGE MANAGEMENT
67%
41%
59%
0,00% 20,00% 40,00% 60,00% 80,00%
Are there training programmes on change
management for managers?
Do you have a specific organization/framework for
change management?
Do you have dedicated mechanisms in place to support
managers (training, coaching, workshops, etc.) ?

9. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 9TRANSFORMING A CENTRAL BANK
TRAINING
5,91
3,3%
0,00 2,00 4,00 6,00 8,00
Training days per employee (yearly average)
Training budget (educational and teaching expenses, e-learning conception
or acquisition) in % of gross salary wage

10. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 10TRANSFORMING A CENTRAL BANK
COMMUNICATION FUNCTIONS
33%
57%
71%
81%
85%
86%
86%
0,00% 20,00% 40,00% 60,00% 80,00% 100,00%
Have you launched an intranet with staff feed-back
functionality?
Internal reporting: is there any monthly or quarterly
follow-up and reporting around strategic
communication?
Are there yearly press conferences on your bank's
Annual report? On the Balance of Payments report? On
the bank supervision reports? Others?
Internal communication: do you have short a section on
your intranet featuring major news concerning the
operations of various departments? Are the news items
fed by the departments concerned themselves?
Do you think that the creation of a blog would boost
your central bank's communication policy?
Are there systematic press releases on monetary policy
decisions? On market operations decisions? On bank
supervision decisions?
External communication: do you publish press releases
on yearly reports/publications?

11. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 11TRANSFORMING A CENTRAL BANK
71%
45%
36%
23%
14%
9%
9%
0,00% 20,00% 40,00% 60,00% 80,00% 100,00%
Would you say that top-management is deeply
involved into the managerial innovation?
Have you fostered a community of managers, for
practice sharing, peer-support and co-
development?
Have you launched a corporate social network ?
Have you created one or several co-working
spaces?
Is there any HR go-along-with policy targeted
towards the middle management in the
digitalization context?
Have you created one or several internal "labs" to
bring together start-ups and your bank's units?
Do you use "call for innovation projects"
software?
5%
DIGITALIZATION AND INNOVATION
What
proportion of
staff is actively
engaged in
developing
technology
innovations
that go beyond
maintaining or
upgrading
existing
technologies?

12. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 12TRANSFORMING A CENTRAL BANK
22 PARTICIPATING CENTRAL BANKS TO THE
QUESTIONNAIRE
Mainly from Asia, Africa and Europe.
32%
5%
36%
27%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Africa America Asia Europe

13. BANQUE DE FRANCE – INSTITUT BANCAIRE ET FINANCIER INTERNATIONAL
SÉMINAIRE 13TRANSFORMING A CENTRAL BANK
DATA AND STATISTICS CONTAINED IN THIS DOCUMENT ARE
CALCULATED FROM PARTICIPANTS’ RESPONSES TO A QUESTIONNAIRE
CIRCULATED PRIOR TO THE CONFERENCE. NO ATTEMPT HAS BEEN
MADE TO VERIFY ACCURACY.
DEFINITIONS AND METHODOLOGIES DIFFER ACROSS JURISDICTIONS.
THESE COULD EXPLAIN SOME RESULTS.
FOR THE CLOSED QUESTIONS (I.E. YES /NO), THE PERCENTAGES ON THE FOLLOWING GRAPHS
REPRESENT THE PERCENTAGE OF YES ON THE TOTAL OF THE RESPONDENTS.