ECCB 2016/2017 Annual Report

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ECCB ANNUAL REPORT 2016/2017

Compensation and Benefits The HRD was actively involved in the review of benefits which were deemed essential for the well-being of the Bank’s human resource. Effective July 2016, the Bank approved the initiative for retirees to continue on its Group Health Insurance Plan. The initiative provides an increased benefit to the Bank’s retirees and makes available an additional option for healthcare. STAKEHOLDER ENGAGEMENTS ECCB Connects : Who we are, What we do and How we serve you! As part of the thrust to provide the public with a better understanding of the role and functions of the ECCB and how its work affects their lives, the Bank launched its weekly programme, ECCB Connects in April 2016. The programme is aired in seasons which run for three consecutive months with new prgrammes released on Wednesdays. As at 31 March 2017, 43 programmes had been released on the Bank’s YouTube channel and Facebook page. The topics covered included: •  • How the ECCB Issues andManages EC Currency; •  • Steps to Bank Resolution; •  • How the Work of ECCB Economists Impacts the Lives of the People of the ECCU; •  • Correspondent Banking Relations; •  • Banking Products and Services; •  • Counterfeiting; •  • Electronic Payments System; •  • How the ECCB Regulates and Supervises Financial Institutions.

Statistics, Internal Audit and Research. Staff also attended various regional meetings and conferences, whichprovidedadditional opportunities for networking and the exchanging of ideas. Recruitment and Selection In order to ensure that departments were manned adequately, the recruitment and selection of candidates with the best fit to fill critical staffing gaps was given high priority. Twelve recruitment exercises were undertaken during the period which resulted in 25 new staff members being welcomed into the ECCB family. As at 31 March 2017, the Bank had a staff complement of 208 employees. Policy Enhancement and Compliance A comprehensive review of the Staff Regulations (November 2006) was undertaken. This resulted in the approval of Revised Staff Regulations in keeping with best practices. To ensure optimal individual and organisational performance, the Bank continued to support the needs of the staff in achieving a work-life balance by introducing a flexi-time policy. To ensure optimal individual and organisational performance, the Bank continued to support the needs of the staff in achieving a work-life balance by introducing a flexi-time policy.