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28 MANAGEMENT REPORT / RESPONSIBILITY
long-term with an average period of employment
of more than six years are evidence of its attraction
as an employer.
It is a fundamental concern of Investkredit that its
employees are able to release their individual development
potential in implementing innovative
services. The personal and
RESPECTFUL respectful support given to
COLLABORATION
customers by the Group’s relationship
managers and specialists
is very important. The quality of the range of
services is also a function of the close co-operation
between the Investkredit Group in Vienna and its
European branch offices.
Management culture with short lines of
decision
The niche strategy with specialist solutions for a
European core market confronts management with
new challenges time and again. In September
2004, Investkredit ran a twoday
seminar with external consultants
for more than 40 managers
on the subject of “Specialisation’s
Strength – How
Quality Management leads to Strong Profits”. The
Bank executives’ principles of conduct include
dealing transparently with management information.
Quick decision making processes in changing
markets lies at the heart of the Investkredit
Group’s management culture.
QUALITY AND TRANS-
PARENCY – TWO CORNER-
STONES OF MANAGEMENT
An extensive management information system provides
the basis for fine-tuning and ongoing decisions.
The expanded management team meets
monthly to discuss operational developments in
the various business areas. At the monthly “Bank
Steering Meeting” those in charge of the operating
fields of business decide on asset and liability
management and risk management issues.
The Asset Liability Committee (ALCO) is the central
element in the risk management process at
Kommunalkredit. At the regular ALCO meetings,
the Board of Management is informed about the
Bank’s overall risk situation; all significant general
requirements relevant to risk are defined; and
limits are allocated and monitored. The Asset Liability
Committee is responsible for optimising the
overall risk positions in respect of market assessment,
and agreeing on risk exposure in response to
the Bank’s ability to bear risk. ALCO’s management
aim is to optimise the economic value of equity
and net interest income.
Staff development as a factor in competitiveness
Integrating the new branch offices into the banking
group’s organisational culture presents an
intercultural challenge. The aim of staff development
is for the quality standards and processes to
be respected regardless of location. The regular inhouse
“International Day” in Vienna provides an
opportunity for exchange on technical and organisational
cultural issues.
The main focus of training in the year under review
was on advanced technical aspects of financing
and risk management. External experts also
assist with the Bank's internal programme. Overriding
everything, the issue of “knowledge management”
is seen as crucial. In the year under
review, internal seminars supported by external
systemic management consultants were held to
strengthen the collaboration between departments.
Generous amounts were included in the
budgets for developing technical and personalityoriented
qualifications in the year under review:
The Investkredit Group spent around EUR 1.0 m on
internal and external seminars and workshops.
This is equivalent to an average amount of
EUR 2,100 per employee.
Experts from all of the Investkredit Group’s fields of
business also speak at technical events, seminars
and conferences at home and abroad. A number
of employees also worked as lecturers on financial
topics at universities and technical colleges.