13 WHAT'S NEWS Issue 11 December 1997 special 'Rabobank did its first international transaction - "omeone sent a Eurocheque from Belgium to Holland.' When the laughter subsided, it was time for the serious part of his message: 'While we all accept the need for Bnice Tozer yOAA. lt4~OA/V~) The Dutch financial daily, Het Financieele Dagblad, appears to be an avid reader of What's NewS. A leaked copy of our November issue meant they could publish our investment banking plans. change and are all willing to change, it is more than acceptable to question what will arguably be the most important change in our history.' And this most important change is moving far more rapidly than Rabobank's traditional lenthe festina - make haste slowly - style. Along with an end to personal kingdoms, we are also seeing the true demise of the pilared or divisional underpinning thinking behind the system is that it is more than an appraisal tooi although it can be used to assess individual performance and to highlight personal development needs. At the same time, the so-called Role Profile within the system provides a key link between all aspects of the PFF process.'Each and every •asition within Rl will be allocated generic Role Profile that describes the role in terms of three elements,'Goudsmit explains. 'First are accountabilities, the responsibilities and the performance requirements related to that specific role.Then there are key performance indicators which are specific measures.The third is the general and technical compentencies, ie. the levels of knowledge, skills and behaviour that are needed for effective performance.' CLEAR APPRAISALS The above are clearly job specific within the organization rather than individual.The people side ^equally important and the implementation of PFF will mean international Rabobankers gain a clear view on their personal near- term roles allowing greater focus because of that clarity.This will be achieved through a combination of the so-called Annual Objectives (is self- explanatory) of each individual which are derived from the broader relevant business plans coupled to the accountabilities, key perfomance indicators and competencies.These will be recorded in an annual performance appraisal form which will be the basis of everyone's (yes,throughout the organization, not just senior management) annual review process. 'Once the principles are understood, we're convinced people will be very happy with PFF,'Goudsmit says.'This will be the first time we have a network-wide guide to how we should work through a model which is both comprehensive and interlinked. Sure, we need training in using the system. That will begin very soon. From the responses here in Noordwijk, some offices will be introducing it immediately, others will opt for phased introduction. But you can be certain, it is coming.' structure that once characterized the wholesale banking activities of Rabobank. Not too long ago, we had the 'divisions' financial markets, corporate finance, international, etc. These have been integrated and assimilated over the past couple of years into an organization with an identity of its own: Rabobank International. 'We're talking now about a knowledge- based bank,' commented APFT's Bruce Tozer. 'It's no longer just corporate banking, or corporate finance or investment banking.' TRUST AND RESPECT Dennis Ziengs' comment proved a natural end to the open discussion by reminding everyone that the cooperative Dennis Ziengs identity we're all so proud of and its people focus had been somewhat lacking in our reception of the new investment banking people: 'Isn't it time we received our new colleagues with the professional recognition and respect they deserve?' he asked. 'We talk about whether we trust their ability to deliver the products we need. What about their trust in us and in Rabobank?' Mike Ice immediately came back with: 'We know you need products and we know it appears to be taking time. But let me assure you, when we come, we'11 be coming fast.' On the 'retail' side, we're talking here institutional investors, corporations, financial institutions, our member banks and retail funds (Robeco), pension funds, insurance companies and other product areas of the bank. The exchange side is self- explanatory. All of these activities and areas of focus combine to create GED's mission statement: To establish a global, unified presence as niche player for GED while exploiting the unique characteristics of regions to extract maximum profitability. On offer will be both structured (exotics, equity swaps) and listed (warrants, convertibles, IPC's) products. The range will be based on customer need - Eliazov's figures show that almost half of liability managers use derivatives strategically in spite of bad press in recent years. Institutions also use these products for a broad variety of reasons (see chart). Immediate GED strategy is to develop: understanding of customer strategies and specific hedging needs advanced product capabilities and systems into service provider and advisor leverage opportunities on Rabobank assets including Triple-A Marcus Orubb - International equities brokerage (IEB) Also Grubb had clear- cut aims and objectives. This global niche player is prominent in his wish list along with customer

Rabobank Bronnenarchief

blad 'What's news' (EN) | 1997 | | pagina 13