Review of Operations - Commercial Bank of Kuwait

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shown procedural perfection and error free processing of Treasury and Investment transactions without backlog. Aneco-friendly office environment with bare minimal printing of SWIFT messages, confirmations, vouchers etc. and digitalarchival was introduced within the unit as a pilot project which will be scaled through-out the bank.In Trade Finance Services, enhancements to ICBS system were carried out to improve the automation of processes.Procedure documentation requirements within the department were addressed and the same are under review statefor final clearance. Intensive cross-training program has resulted in knowledge transfers between all processes toenhance the value of human capital.The Account Processing & Records Management back-office has focused on improving customer data quality with anobjective of 360 degree view of customer relationship & enhanced “Customer satisfaction” & “Compliance” to CentralBank related requirements. The joint efforts with RBD quality team has resulted in best turnaround times on deliveryconsistently. Reductions in cost of operations were achieved by process automation & re-organization of resources.At iSPEED, multiple engagements are handled and all “work-in-progress” projects are aligned to the bank’s strategic plan.A “Corporate ServiceDesk” set-up project was executed as a part of Corporate Banking re-engineering. The ProcedureDocumentation & Repository (PDR) arm within iSPEED has supported to complete the “Corporate Governance” project& was followed up with the charting, prioritizing & addressing of bank wide procedure documentation requirements.iSPEED contributes to evolve & standardize technology within the bank. Multiple processes across departments were reengineeredto be integrated through in-house developed applications. This increased efficiency in operating processes.iSPEED continues to support & add value to bank-wide processes with the focus on providing & improving “CustomerConvenience”HUMAN RESOURCES DEPARTMENT |The bank recognizes that human resource is its most important asset. As such, Human Resources Department promotesefficiency, productivity and employee development and satisfaction within the Bank The Department strives to attractand retain the best talented staff members and fosters the development of employees in achieving professional andpersonal growth. The Department encourages localization of jobs by providing Kuwaiti graduates employment andcareer development opportunities within the Bank’s ongoing efforts to raise the percentage of Kuwaiti labor, whichcrossed the threshold of 60% consistently, and stands now at 62.2% of the total workforce in the Bank .The Human Resources Department performs these core functions• Recruit and select competent and job-fit employees• Promote an environment favorable to staff development and training• Plan for staff training and development• Administrate salaries and benefits• Advise on personnel policy matters and provides employee assistance• Conduct human resource planningThe Department takes leadership in creating a positive work environment that places high value on professionaland collaborative work relationships while recognizing the importance of individual contributions. It encourages andmaintains open communication channels Bank wide.Annual Report 201325
Staff Planning and Recruitment Section performs these core functions• Attract and develop young local talent by means of the New Recruits Development Program.• Coordinate all staffing needs of the Bank• Ensure a recruitment and selection of a high quality diverse work force for the Bank.• Participate in career fairs of local colleges and universities with an aim to attract fresh Kuwaiti graduates to the Bank.• Provide emerging talents with the opportunity to acquire professional and practical experience through the internshipprogramCompensation and Benefits Section performs these core functions• Conducting job grading, evaluations, salary surveys, etc.• Develop, implement and maintain competitive and equitable compensation and benefits that enable the Bank toattract, recruit, motivate and retain highly qualified people.• Identification and recommendation of competitive pay and rewards systems in line with prevailing market trends.The Training Unit performs these core functionsTraining & Development in Commercial Bank of Kuwait is practically considered as a strategic and focal service to allemployees, to equip them with needed skills, to perform as expected. To achieve this, employees were enrolled in 145different training courses, totaling 4600 training hours, in 2013. Such enrollment included short and long courses;technical certifications; leadership development; career development; and inhouse training by capitalizing on availablemodern in-house training facilities. In addition, the Training Unit has built an active training relationship in collaborationwith the Institute of Banking Studies (IBS), which resulted in achieving the highest training utilization in two out of IBS’sthree training units, among all member banks,.Parallel to this, Human Resources Training Unit (HRT) proactively seek to update employees with financial industryand Central Bank’s regulations pertaining to various matters, such as training employees in Anti- Money Launderingand its regulative updates on annual basis; and taking the lead among all banks in training employees in CorporateGovernance.On another front, and in line with social responsibility commitment, the Bank offers students from local Universities,Institutes, social organizations, the opportunity for field training, during all year long, to expose them to the bankingenvironment, and its functionalities.Commercial Bank Of KuwaitThe Human Resources Department is committed to ensuring that the Bank attracts, recruits, develops, retains andsustains a high performing and diverse workforce by developing and implementing progressive human resourcemanagement policies and strategies.INTERNAL AUDIT |The Internal Audit Department plays a significant role in commercial bank of Kuwait by providing an independentassessment and validation of key processes and internal controls across the bank. Internal Audit maintains independence26
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Page 5 and 6: TREASURY |Backed by solid foundatio
Page 7 and 8: c) Liquidity RiskThe Bank manages l
Page 9: Civil ID collection from Chip cards
Page 13 and 14: actual implementation and the year

Review of Operations - Commercial Bank of Kuwait

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