PHILIPSBURG–During her recent presentation to Curaçao’s Business Association VBC, Central Bank of Curaçao and St. Maarten (CBCS) interim President Leila Matroos-Lasten said they are focusing on becoming customer-friendly and innovative.
To achieve this, the monetary union’s financial sector supervisor wants to implement an organisational redesign, including functions and processes that correspond with the bank’s ambitions and transformation.
“We cannot continue to do business as we used to. Our organisation must be fit to face the challenges and carry out an internal transformation. Therefore, this month we are kicking off a reorganisation process through which we will develop and implement a new management and organisation structure, update and implement ‘lean and mean’ processes, and continue to invest in our personnel to improve our performance,” she said.
CBCS also wants to implement a decisive and efficient business management model and strengthen the execution of its core business, supported by a modern information technology (IT) infrastructure.
“We will develop a strategy to innovate our IT infrastructure, thereby strengthening the execution of our core tasks and business operations. In doing this, we will continue to ensure that we are able to cope with the threats of cyber-attacks and the sensitivity of the data entrusted to us,” Matroos-Lasten said.
Together with this, the monetary authority wants to implement a customer-friendly and innovative organisation culture with a new image.
“We also have to work on our culture. Our organisation has become accustomed to a certain way of working over the years which has led the outside world to perceive us as inflexible and a closed fort.
“We need a change in our culture to be the strategic partner and advisor that our countries expect. We must move from a relatively closed organisation to an open and transparent one.
“It is in this regard that we have conducted the stakeholders’ satisfaction survey as part of the strategic process and we included the recommendations in the strategic plan. We have also developed a communication plan that we are implementing, and in 2019 we will start the rebranding of the bank,” she continued her presentation.
CBCS wants to achieve this transformation through leadership with a new “tone at the top.”
That strategic goal is closely related to the reorganisation process. A precondition for the success of the transformation and culture change is that the management supports the change and sponsors it. Good leaders will be followed, but this will only happen if the tone at the top is right. A leadership programme is being introduced to support CBCS leaders in carrying out the transformation and culture change.
The leaders need to change the organisation from “internally focused” to an “externally focused” and innovative dynamic organisation, according to Matroos-Lasten.