Strategic Planning and Management: Delivering Change and Meeting Objectives
Strategic Planning and Management
Strategic Planning and Project Management: Delivering Change and Meeting Objectives
Drivers of Change: Key Forces and Dynamics
13:30 – 15:00
The central bank mandate: embracing change and maintaining independence
13:30 - 15:00
- Evolution of central banks’ mandates and responsibilities
- Examples of how increasingly broad remits can be embraced
- Realities of new and resurgent threats to independence
- Changing culture: strategic plans as a tool for change not just a ‘fashion’
15:00 – 15:15
Coffee break
11:45 - 12:00
15:15 – 16:45
A catalyst for change: hubs, sandboxes and incubators
15:15 - 16:45
- Ensuring inclusive innovation: the central bank as a catalyst
- Use, funding and outputs: measuring value
- How central banks can change to better embrace and utilise innovation Case study: the role of hubs, sandboxes and incubators in inclusive innovation
16:45 – 17:15
Coffee break
12:45 - 13:00
17:15 – 18:30
Towards sustainability: strategic perspectives on greening central banking
Pre-recorded presentation
17:15 - 18:30
- Understanding the connection between central banking and climate-related risks
- A framework for thinking about climate-related risks and their impact
- Implications for policymaking, operations and governance
- What this means for strategic planning: short, medium and long term
Gábor Gyura has a masters degree in Economics and also holds a PhD in Earth Sciences. He was founding head of the Sustainable Finance Department at the Central Bank of Hungary and was responsible for the Bank’s green agenda between 2018 and 2022. His main work area was the development of the domestic green finance market and the improvement of environmental risk management in the financial system, also representing the Bank in various international committees related to sustainable and climate finance such as the Network for Greening the Financial System (NGFS) and the European Supervisory Authorities. Since May 2022 Gabor is a consultant at the United Nations Environment Program Finance Initiative (UNEPFI), and since 2021 also acts as assistant professor at the Budapest University of Technology and Economics’ Finance Department, teaching and researching sustainable finance.
Enhancing the Toolkit for Strategic Management
09:00 – 10:30
The role of central bank leaders in strategic management
Presentation followed by Q&A
09:00 - 10:30
- The roles and responsibilities of the executive and non-executive board members
- Overview of engaging central bank leaders in the design and formulation of a strategic plan
- Frameworks for consistent monitoring, reporting and communication
- Discussion: what does the board expect from the strategic managers and what do the strategic managers expect from the chairman?
10:30 – 11:00
Coffee break
11:45 - 12:00
11:00 – 12:30
Designing the strategic plan: key building blocks, focus areas and performance indicators
Pre-recorded presentation
11:00 - 12:30
- Key features of building blocks of a modern strategic plan
- Tips for integrating new areas of focus into strategic planning
- Using the planning cycle to gain an effective outcome
- Hands on exercise: indicators and matrixes for continuous assessment of strategic objectives
12:30 – 13:30
Break
12:45 - 13:00
13:30 – 15:00
Reporting and contextualizing change: outputs vs outcomes
Presentation followed by Q&A
13:30 - 15:00
- How can central banks show the effectiveness of a change?
- How can they show they are delivering value for money?
- How can they determine the division of labour between policy-setters and functional heads?
- Group discussion: how should a central bank measure performance?
15:00 – 15:30
Coffee break
15:00 - 15:30
15:30 – 17:00
The mutual enablers: strategy and risk
Interactive workshop with delegate participation
15:30 - 17:00
- Synergies and overlaps between the risk management and strategic planning function
- Emerging opportunities and unavoidable trade-offs
- Examples of methods and tools for systemic coordination and cooperation between the two functions
- Tips for engagement in the planning process: options and choices to address key areas of risk
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.
17:00 – 17:15
Coffee break
17:00 - 17:15
17:15 – 18:45
Building organisational resilience: the role of strategic planning
17:15 - 18:45
- Key features of organisational resilience as a strategic goal
- Impact of factors such as corporate culture, risk appetite and risk tolerance
- Examples of tools and frameworks for strategic monitoring and continuous assessment
- Role of interdepartmental cooperation and coordination
Fintech in central banking: new tools and opportunities
09:00 – 10:30
Making the most of Big Data and advanced analytics
09:00 - 10:30
- State of the art of Big Data and advanced analytics
- Examples of applications in central banking and supervision
- Overview of opportunities for strategic planning and management
- Implications for resourcing and institutional organisation
Trevor Sabean was appointed interim senior director of the Bank of Canada’s Data and Statistics Office in October 2017. In this capacity, he oversees the divisions responsible for ensuring that the Bank of Canada’s economists and researchers have efficient access to high quality data and statistics, as well as the required IT tools (High Performance Computing, analytic packages, dedicated research zone, etc.), and technical and statistical support. Prior to joining the central bank, he worked for Statistics Canada. When he joined the central bank in 2010, he worked as the assistant director where he was responsible for the bank’s Macroeconomic Indicators and Financial Institutions Statistics division. Mr. Sabean holds a Bachelor of Commerce from McGill University, a Masters of Arts in Economics from the University of Ottawa, and a Masters Certificate in Risk Management & Business Performance from York University.
10:30 – 10:45
Coffee break
10:45 - 12:00
10:45 – 12:15
Case study: a cyber resilience framework in practice
10:45 - 12:15
- Taxonomy of cyber risks and their operational implications
- Examples of frameworks for integrating cyber risk on a strategic level
- Cyber resilience: key features of effective crisis management plan and business continuity
- Hands-on exercise: a real-life cyber-attack scenario
12:15 – 13:15
Break
12:00 - 12:45
13:15 – 14:45
Innovative processes and technologies as basis for successful data management and analysis – OeNB’s case
Presentation followed by Q&A
13:15 - 14:45
- Challenges and key components central banks‘ data management
- What does SupTech mean on the input (reporting) side?
- OeNB’s reporting data model as RegTech/SupTech solution
- Tips for working with key external partners and stakeholders
- Data governance – get the most out of data
Guenther Sedlacek is Senior Reporting Development Manager and head of the unit “integrated data model” in the statistics department of the Oesterreichischen Nationalbank (OeNB). Since 2013 he has been responsible for the development of the new integrated reporting data model used in the Austrian banking market as well as for the cooperation with reporting agents belonging to the financial sector and software providers.
He studied Technical Mathematics und started his business career as a research assistant at the statistics department of the Vienna University of Economics and Business, where he also received his PhD. In 2001 he changed over to the statistics department of the OeNB. There he was responsible for the development and operation of the security-by-security reporting and compilation system till 2010. During this period he also worked several months for the directorate statistics at the ECB and in the financial market division of the OeNB. In 2010 he became head of the direct investment unit in the statistics department and in 2012 he took over the collection and management of micro data, including the central credit register. In 2013 he was nominated to be the chair of the Austrian Standing Committee on Reporting, where – among others - strategic decisions concerning the integrated reporting data model (timelines, contents, etc.) are made and amendments to national legal acts are discussed. He is strongly involved in some European projects regarding the future of reporting. In 2020 he has been responsible for developing a data governance concept for the OeNB in order to strengthen data usage.
Demonstrating Value: Project Management and Performance
09:00 – 10:30
Project management and monitoring: implementing the strategic plan
09:00 - 10:30
- The role of an annual business plan in strategic management
- Examples of project development as a tool for strategic planning implementation
- Frameworks for continuous assessments of short, medium and long term delivery of a project
- Case study: strategic management through annual business plan
10:30 – 11:00
Coffee break
10:45 - 12:00
11:00 – 12:30
Corporate culture: cooperation, diversity and integrity
11:00 - 12:30
- Overview of key dynamics shaping corporate culture in a central bank
- Impact of factors such as personal accountability, conduct management and risk appetite on operational efficiency
- A framework for addressing questions of diversity
12:30 – 13:00
Strategic outlooks for 2020 and beyond
12:30 - 13:00
- Key expectations in relation to the strategic management functions for 2020 and beyond
- Trends and dynamics of roadmaps and frameworks that help adjust medium- and long-term strategy
- Challenges and opportunities for leaders
- Hands on exercise: building a strategic plan for 2021
13:00 – 14:00
Closing remarks and delegate action plans
Concluding session led by the chair
13:00 - 13:30
- Summary of the course
- Discussion of the observed trends and case studies
- Application of learning points in the delegates’ home organisations
- Preparation of action points