Page 10 - OeEB-AnnualReport_2013

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OeEB Annual Report 2013
Management report
Non-financial performance indicators
At the end of the year, OeEB had 29 active employees
and one employee on parental leave. This total does
not include the Executive Board, which is employed
by OeKB.
OeEB’s staff primarily sees to the implementation
of the projects, as well as transacting the banking
business per se. The main activities are project
acquisition and structuring; risk assessment; com-
pliance tasks; negotiation and conclusion of new
contracts; processing and monitoring of existing
projects; evaluation of development relevance;
formulation and implementation of ways to improve
development relevance; and development-related
communication and policy work.
OeEB has a service agreement with OeKB under which
various services are procured from OeKB. This ensures
access to proven know-how and raises additional
The service agreement is approved by the Financial
Market Authority and covers accounting and reporting,
human resources management, information technolo-
gy, internal audit and other services. As well, OeEB is
authorised to outsource the compliance officer
function for those business segments covered by the
Standard Compliance Code (SCC) and the SCC’s
minimum standards (securities compliance). The
function of the anti-money laundering/anti-terrorism
finance officer is performed by the Legal department
of OeEB.
With the exception of the Executive Board, which is
employed by OeKB, all OeEB staff members are
directly employed by OeEB. They bring considerable
breadth of experience to their positions from their
previous work. Personal and professional qualifications
are the only criteria for employee evaluation at OeEB,
and employee pay is independent of gender. All
salaried employees of OeEB are covered by the
collective agreement of the commercial banking
sector. For graduates of vocational schools and
higher educational institutions, the salary scale starts
above collective agreement levels.
The bank’s compensation policy uses both perfor-
mance criteria and market benchmarks. Care is taken
to ensure an appropriate proportion of fixed to variable
pay. The variable component is based partly on
individual performance as discussed in the performan-
ce appraisal interview, and partly on various corporate
performance indicators. Appropriate controls ensure
that variable compensation is paid only when the
bank’s earnings allow it. This approach is followed at
all levels of the organisation, including senior manage-
Motivated staff members providing service to high
standards of quality and professionalism, and doing so
in a cost- and risk-conscious manner, are critical to
OeEB’s sustained success as Austria’s official
development bank.
OeEB therefore invests in practice-oriented staff
training and development. In the year under review, in
addition to in-house training events offered together
with OeKB, OeEB also made a point of providing
opportunities to take part in external seminars.
Committed to being a responsible employer, OeEB
uses appropriate staff development tools to help
create the right conditions for employee satisfaction
and productivity. The employee interview discusses
performance against productivity objectives set in the
prior period, as well as work quality and team rela-
tions. Performance objectives and the conditions
required to achieve them are set anew each year. A
sustainability target is also agreed.
OeEB employees receive discounts on meals in the
OeKB staff cafeteria. Other benefits are access to the
company doctor, vaccinations and the annual health
week event. As part of the OeKB Group, the staff also
has the (fee-based) use of the company day-care
centre and the sports centre.