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ADMINISTRATION AND SUPPORT SERVICES
6.0 ADMINISTRATION AND SUPPORT SERVICES
6.1 HUMAN RESOURCE MANAGEMENT
During 2006, the Bank undertook several initiatives in the area of human resource
management. These included capacity building, organisational learning and
preservation of corporate memory, organisational development and staff welfare.
Structure and Staffing
The Bank's approved establishment was revised from 672 to 679 to accommodate the
transformation of a Risk Management Unit into a fully fledged Department with an
approved staff establishment of 11. The actual staff complement was 599 against an
approved establishment of 679 (see Table 34).
Table 34: Establishment and Staffing Levels, 2004 - 2006
2004 2005 2006
Functions Estab Actual Var Estab Actual Var Estab Actual Var
Executive 8 9 1 10 9 -1 10 9 -1
Subtotal 8 9 1 10 9 -1 10 9 -1
Core Departments
Economics 45 37 -8 49 36 -13 49 41 -8
Bank Supervision 36 36 0 37 33 -4 37 38 -2
34 33 -1 34 31 -3 34 28 -6
Non Banks Financial
Institutions Supervision
Financial Markets 28 30 2 33 27 -6 33 31 -2
Banking, Currency & 80 65 -15 93 70 -23 93 81 -12
Payment Systems
64 106 128 22 120 120 0 120 117 -3 63
Regional Office 329 329 0 366 317 -49 366 336 -33
Subtotal
Support Services
42 44 2 44 40 -4 44 39 -5
6 ADMINISTRATION AND SUPPORT SERVICES Finance 69 62 -7 73 61 -12 73 65 -8
Procurement &
Maintenance Services 38 27 -11 38 39 1 38 33 -5
35 24 -11 39 25 -14 39 31 -8
Human Resources
Information &
Communications
Technology 15 14 -1 19 13 -6 19 15 -4
48 60 12 53 51 -2 53 49 -4
Bank Secretariat
22 20 -2 26 21 -5 26 21 -5
Security Services 0 0 4 3
0 -1 11 4 -7
Internal Audit
Risk Management 269 251 -18 296 253 -43 303 257 -46
Department
606 589 -17 672 579 -93 679 599 -80
Subtotal
TOTAL
Source: Bank of Zambia
The distribution of staff on Permanent and Pensionable and fixed term contract of
employment was as shown in Table 35.
ADMINISTRATION AND SUPPORT SERVICES ADMINISTRATION AND SUPPORT SERVICES
Table 35: Distribution of Permanent and Pensionable and Contract Staff, 2006 Table 37: Study Programmes Undertaken, 2002 - 2006
Office Permanent and Pensionable Staff Contract Staff Grand Study Programme 2002 2003 2004 2005 2006 Totals
Total PhD 0 1 0 1 2 4
Male Female Subtotal Male Female Subtotal Master of Business Administration (MBA) 1 4 8 5 3 21
Lusaka 289 128 417 39 26 65 482 Master of Laws (LLM) 0 0 0 2 0 2
Ndola 71 34 105 9 3 12 117 Master of Science in Economics 0 1 0 2 2 5
Subtotal 360 162 522 48 29 77 599 Master of Science in Auditing 1 1 0 0 0 2
Master Degree in Business Information Systems 0 0 0 0 1 1
Source: Bank of Zambia
Certified Internal Auditors (CIA) 0 0 0 0 1 1
MBA ESAMI Maastricht 0 0 0 0 1 1
Staff Movements Bachelor of Laws (LLB) 0 1 3 1 0 5
The Bank employed 47 new staff on three-year fixed term contract while 19 separations Bachelor of Science in Banking & Financial Services 0 0 0 1 0 1
were recorded (see Table 36). Bachelor of Arts in Public Administration 0 1 1 0 0 2
Association of Certified Chartered Accountants (ACCA) 0 4 1 0 1 6
Table 36: Staff Movements, 2006
Diploma in Management 0 2 7 1 1 11
Movement Type Month Diploma in Public Administration 0 3 3 0 0 6
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TOTALS Diploma in Treasury & International Banking 0 0 0 0 1 1
Recruitments 3 3 15 9 3 5 1 1 1 0 4 2 47 IMIS Diploma 0 0 0 0 1 1
Reinstatement 0 0 0 0 0 0 0 0 0 0 0 0 0 ABE Diploma 0 0 0 0 1 1
Total Inward Staff Zambia Institute of Bankers (ZIOB) Certificate/Diploma 2 4 1 2 1 10
Movements 3 3 15 9 3 5 1 1 1 0 4 2 47 Association of Accounting Technicians (AAT) 0 5 1 0 0 6
Dismissals 0 0 0 0 0 0 0 0 0 0 1 0 1 National Accounting Technicians (NaTech) 0 1 0 0 0 1
Resignations 0 2 2 0 0 0 0 0 0 1 0 0 5 TOTALS 4 28 25 15 16 88
Statutory
Retirements 0 0 0 0 0 0 0 0 0 0 0 3 3
VESS 0 0 2 0 2 0 0 0 3 0 0 0 7 Source: Bank of Zambia
64 65
Death 0 1 1 0 0 0 0 0 0 1 0 0 3
Total Outward
Staff 0 3 5 0 2 0 0 0 3 2 1 3 19 Support to University of Zambia and Copperbelt University
Movements The Bank of Zambia continued to support University Chairs at the Copperbelt University
Net Staff 3 0 10 9 1 5 1 1 -2 -2 3 -1 28 (CBU) and the University of Zambia (UNZA) through salary supplementation to lecturers
Movements in the School of Business and Department of Economics, respectively. The Bank also
provided scholarships to five outstanding students in each faculty and funds for the
Source: Bank of Zambia
procurement of study materials.
Organisational Learning and Preservation of Corporate Memory
Capacity Building Programmes In order to improve access to information resources for research and learning purposes,
The Bank continued to implement capacity building programmes through provision of the Bank introduced an automated Library Management System. The Bank also
scholarships and tuition at the Bank's In-Service Training Centre (ISTC). A total of 16 implemented a Paper Management Project and carried out an evaluation of its semi-
employees completed various study programmes in 2006 (see Table 37). active records during the period under review.
Organisational Development
The 2004 - 2007 Strategic Plan
The Bank undertook a systematic and comprehensive review of the implementation of
the Strategic Plan up to 2005. The purpose of the review was to evaluate progress made,
and adjust the Plan in view of changes to the internal and external environment.
The Code of Ethics
The Bank developed a Code of Ethics intended to provide employees and board members
ethical guidelines and procedure in their dealings with each other and the public.
Employee Relations
The industrial relations environment was harmonious during the year. The Bargaining
Unit successfully concluded negotiations for the 2006 2008 Collective Agreement on
ADMINISTRATION AND SUPPORT SERVICES ADMINISTRATION AND SUPPORT SERVICES
conditions of service for unionised employees and also commenced negotiations to Procedure;
review the Memorandum of Recognition Agreement (MRA) between Bank of Zambia and ! Introduction of the revised Bank of Zambia Fixed Assets Policy;
the Zambia Union of Financial Institutions and Allied Workers (ZUFIAW).
! Introduction of the revised Bank of Zambia Budget Policy;
Staff Welfare ! Introduction of the revised Bank of Zambia Code of Ethics; and
Table 38: Number of People who were intensified, Accessed in an improvement in
Sensitisation campaigns on HIV/AIDSUnderwent VCT and/orresultingArts, 2000 - 2006
awareness of the scourge. This increased the number of staff and their family members ! Increment in the minimum start-up capital for banks and NBFIs.
Year Number Of Beneficiaries Totals
undergoing Voluntary Counselling and Testing (VCT). These interventions enhanced
access to treatment (see Table 38).Staff Spouses Children
Further, committees of the Board, including the Audit and Finance Committee,
2000 2 0 0 2 Appointments and Remuneration Committee and the Monetary Policy Advisory
2001 11 2 3 16 Committee also held meetings during the year.
2002 20 13 2 35
The law review exercise embarked upon in 2005 continued through 2006. The exercise
2003 7 6 2 15 was aimed at reviewing the BFSA and other related laws with a view to strengthening the
2004 59 30 11 100 Supervisory capacity of the Bank and harmonising the various pieces of legislation.
2005 78 38 14 130 Furthermore, the Bank of Zambia issued several Gazette notices in accordance with the
2006 81 46 17 144 requirements of the Bank of Zambia Act and the Banking and Financial Services Act.
In an effort to enhance awareness, the Bank of Zambia continued to disseminate
Source: Bank of Zambia information to the public on the functions and operations of the Bank. To this end, the
Bank held Governor's Quarterly Media briefings and a media seminar, which attracted
Journalists from local and international media institutions.
In addition, the Bank disseminated information through participation at the Zambia
International Trade Fair (ZITF) and the Zambia Agricultural and Commercial Show
(ZACS). Furthermore, the Bank produced several publications, including the
Zambanker, Quarterly Financial and Statistical Review Reports, Fortnightly Statistics
Pension
and Monetary Policy Statements.
In conformity with the provisions of the Pension Scheme Regulation (Amendment) Act
2005, the Bank of Zambia Pension Fund was de-linked from the Bank and became an
autonomous entity called Kwacha Pension Trust Fund. 6.5 RISK MANAGEMENT
66 A Risk Management Department (RMD) was established during the year under review 67
with the primary responsibility for monitoring the implementation of the Bank's Risk
6.2 INTERNAL AUDIT
Management Policy complemented with the coordination of Bank-wide risk
During 2006, Internal Audit continued providing management with evaluations of management activities. The Department with an approved establishment of 11 members
effectiveness of internal control over accounting, operational and administrative of staff has two Divisions, namely, Operational Risk and Financial Risk Management. .
functions of the Bank. The audits were conducted in accordance with the International
Standards for Professional Practice of Internal Auditing and Control Objectives for
Information and Related Technology (COBIT). In addition, Computer Assisted Audit Risk Management Activities During 2006
Tools namely AutoAudit and Audit Command Language (ACL) continued to be used. Sensitisation Workshops
Messer PriceWaterhouseCoopers were engaged to provide external quality assurance During 2006, the RMD undertook Bank-wide risk management sensitisation workshops
review of the Internal Audit Services for the five year period up to December 2006. Work for all members of staff, including the Board of Directors. The primary objective of the
will commence in 2007. workshops was to create awareness amongst all BoZ internal stakeholders and explain
their envisioned roles and responsibilities in the risk management process.
6.3 FINANCE
During 2006, the Bank continued to ensure sound budgetary and financial control, and Establishment of Middle Office
prepared audited financial statements for the year 2005 in compliance with In order to strengthen the management of financial risks a Project Team was put in place
International Financial Reporting Standards. The 2005 audited financial statements in September 2006 to initiate the establishment of a formal Middle Office function at the
were approved by the Board in May 2006, which was well within the statutory Bank of Zambia. This is a key component of the financial risk management framework.
requirement of six months. It is envisioned that the Middle Office will provide risk management support to Front and
Back Office operations and to senior management.
6.4 BANK SECRETARIAT
In 2006, the Board of Directors held six board meetings at which a number of decisions 6.6 INFORMATION AND COMMUNICATIONS TECHNOLOGY
were passed, including: During 2006, the Bank of Zambia made several achievements in the area of Information
! Establishment of the Risk Management Function in the Bank; and Communications Technology (ICT). The ICT Department continued to offer technical
support to various systems in the Bank of Zambia, including the Real Time Gross
! Implementation of the new Bank of Zambia Communications Policy;
Settlement (RTGS), Bank Supervision Application (BSA), Globus, Swift Network and
! Introduction of the revised Bank of Zambia Disciplinary Code and Grievance
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