ECCB 2016/2017 Annual Report

ECCB ANNUAL REPORT 2016/2017

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•  • Training in debt performance audits; •  • Training in risk and liability management operations; •  • Third round Debt Management Performance Assessments (DeMPA); •  • Work on International Capital Markets; and •  • Attachment programmes to more developed debt management offices. The Bank will continue its efforts on the Strategic Plan engagement process, and the management of the implementation of the Plan. Risk Management The Office of Risk Management will be engaged in the following key initiatives: •  • Conduct a Bank-wide Risk and Control Assessment; •  • Finalise the Enterprise Risk Management Policy documents to include the Risk Appetite Statement, Risk Tolerances and Risk Reporting framework; •  • Oversee the completion of the Bank’s updated Disaster Recovery and Business Continuity Management Policy; and •  • Facilitate bank-wide risk management training. Department’s effectiveness in supporting the policy mandate of the Bank; •  • Audit of the Agency Office’s operations in Antigua and Barbuda, Dominica, Anguilla and Montserrat, specifically as it relates to the issue and redemption of currency; ORGANISATIONAL EFFECTIVENESS ECCB Strategic Plan 2017 - 2021 Internal Management The Bank will focus on the following: •  • Audit of the Statistics

•  • Targeted audit of the Support Services Department’s effectiveness in providing value added services to the Bank; •  • Targeted Audit of the Accounting Department specifically as it relates to the Budget and Payments operations; and •  • Audit of the effectiveness of the Corporate Relations Department in providing value added services to the Bank. Information Technology and Security The following projects will be undertaken in order to further improvetheBank’sorganisational effectiveness: •  • Begin Phase II of the Statistical Enterprise Solution implementation. This phase will allow for the management of data from the revised prudential returns and will build a platform for the management of macroeconomic data (real sector, external sector, and government finance) as well as data from non-bank financial institutions and other depository corporations; and •  • The launch of a new ECCB Website and Mobile App. Human Resource Management The Bank will seek to maintain a balanced approach to recruitment and selection; performance management, policy development, compensation and benefits administration, whilst giving focus to several key areas: •  • Formulation and preparation for implementation of a modern HR Strategy. •  • Greater focus on training and development of the Bank’s human resource through the utilisation of an increased training budget, which has tripled for the year 2017/2018; •  • Development of a robust risk function within