ECCB 2020-2021 Annual Report and Statement of Accounts

ORGANISATIONAL EFFECTIVENESS

and the COVID-19 pandemic was no exception. Discussions offered guidance on: management of available resources, creation of priority spending plans, dealing with creditors and recovering strong. • It’s Happening Online: Using the Internet as a Tool in the New Normal – With the advent of social and physical distancing, we were forced to seek new ways to connect with others and conduct our personal transactions. This area of focus addressed how the internet had become an essential tool in all facets of our daily lives, creating a new normal. It also highlighted the various online/digital services financial institutions were offering to customers. • T urning the Frown Upside Down: Creating Opportunities from COVID-19 - As the COVID-19 pandemic created uncertainty, many were under stress on a number of fronts. However, crises and extreme threats can be useful in creating incentives and motivation which can potentially lead to new behaviours and even to the creation of new systems or structures. This sub-theme highlighted how opportunities could emerge from adversity. Some of the key events, including the FIM Business Symposium and Financial Workshops, were held virtually and new events such as the Virtual Treasure Hunt and a Primary School Video Competition were conceptualised given that physical contact with the students was not possible. ECCB/RSS-ARU Creative Youth Competition The 2 nd edition of the ECCB/Regional Security System – Asset Recovery Unit (RSS-ARU) focused on art where students were afforded another opportunity to showcase their talents in traditional artwork. The competition revealed the amazing artistic abilities of the students in the ECCU. Meet the winners and view the winning entries ECCB Connects: Who We Are, What We Do, How We Serve you! As at 31 March 2021, the ECCB had released 205 episodes of ECCB Connects, a programme which forms part of the Bank’s Public Education efforts. Due to the COVID-19 restrictions, most of the programmes were recorded virtually. The topics covered included: 1. How can small businesses navigate the impact of COVID-19 and prepare for recovery 2. Managing finances in times of crisis 3. COVID-19 Loan Repayment Deferral Programme 4. Cyber Security – Protecting oneself while conducting business online Revamp the Human Resource Strategy to Support Talent Development and Management During the year 2020, the ECCB like the rest of the world, faced the unexpected effects of the COVID-19 global pandemic which mandated changes to our way of life and the world of work. Notwithstanding the unexpected, the Bank executed its core functions based on two priorities: (i) The well-being of staff – the bank’s key asset; (ii) the ability to continue to serve the region. Ensuring that the current staff remained motivated and comfortable in the changing environment was key; however, due attention was also required to ensure that key vacancies were filled. To this end, recruitment and onboarding of quality talent from the member countries of the ECCU continued to be a critical function of the Human Resource Department. Despite the limitations posed by COVID-19, the Bank successfully and engaged in the virtual recruitment and onboarding of 28 new members of staff to the ECCB family. The Bank also strove to maintain and promote professional growth opportunities and engagement through creative internal measures for existing talent. Targeted vertical and lateral movements were also undertaken with approximately 15.0 per cent of the staff body to ensure a robust organisational structure poised for proactive execution of organisational objectives. The Bank had a turnover rate of 3.3 per cent for the financial year 2020/2021, in trend with previous years.

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2020/2021 24