ECCB 2021-2022 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2021/2022 11

Environmental, Social and Corporate Governance

Development and Review of Policies The Bank continued to craft and review key policies to maintain robust and sustainable corporate governance. The ECCB Code of Ethics and Professional Conduct and Whistle Blower Policies were two critical policies that were developed to guide the desired conduct of the Executive and staff and to strengthen accountability. Given the virtual environment in which the Bank operated during the year, it was also imperative that the necessary safeguards were put in place to ensure that optimum safety standards were maintained. The Digital Signature Policy is one such tool which guides the standards for choosing and operating a third-party software aimed at ensuring secure practices for the electronic signing of documents. Financial Information Month (FIM) October 2021 The FIM Planning Committee continued to work assiduously in 2021 to engage the people of the Eastern Caribbean Currency Union (ECCU) in spite of the persistence of the COVID-19 pandemic. The focus for 2021 was Innovation in the Face of Financial Adversity – Respond! Recover! Rise! The activities, which included a regional virtual business symposium, centered on the following topics: • Let’s Get Digital: Equipping Yourself for the Digital Way of Life – Discussions addressed: cyber security, online banking and payments; using existing tools such as cell phones and taking advantage of virtual platforms. • Make Saving, Budgeting and Investing a Habit for a More Comfortable Tomorrow – Effective personal finance management is fundamental to one’s financial success. As such, innovative ways to save, budget and invest, were highlighted throughout the month. • Minding Your Business: How Your Small Business Can Stay Afloat in Tough Times - Many small businesses continued to be adversely impacted by COVID-19 pandemic and business owners were wary of what the future might hold. The activities sought to provide advice and tips that could help small businesses bounce back in the post-pandemic environment. Topics addressed included: fundamental business principles and practices; managing business finances; seeking new opportunities; and adaptation and innovation. One of the highlights of FIM2021 was the regional Virtual FIMBusiness Symposium. The ECCB collaborated with the Bankers’ Association of Saint Lucia and FIM partners across the ECCU to host the symposium on 27 October. The topic was: Minding Your Business: How Your Small Business Can Stay Afloat in Tough Times . A panel of experts from across the ECCU with several years of experience in banking, entrepreneurship, funding options and finance management, shared their expertise and perspectives on the topic. Executive Director of the St Kitts and Nevis Chamber of Commerce, Kevin Hope, moderated the session. The areas examined were: (i) Adaptation and Innovation, (ii) Fundamental Business Principles/Practices, (iii) Funding Assistance Options, (iv) Managing Your Business Finances, (v) Risk Management: Physical and Financial and (vi) Seeking New Opportunities. View 2021 FIM activities from across the ECCU

The Bank advanced the development of its 2022 - 2026 Strategic Plan utilising the Balanced Scorecard framework under the theme: Transforming the ECCU Through Innovation and Collective Action. It highlights the Bank’s strategic objectives and initiatives for the five-year period, as well as the key performance indicators to gauge the success of the plan. The 2022 – 2026 Strategic Plan will be officially launched during the new financial year.

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2021/2022 11