The Nordic Investment Bank’s vision of a prosperous and sustainable Nordic-Baltic region is shared by our staff members who are skilled experts in their fields. To realise this vision, NIB is developing its working culture to maintain high levels of professionalism based on our corporate values: commitment, competence and cooperation.
At the end of 2015, NIB had 189 employees in permanent positions. Of these, 80 were women and 109 men. In addition, six employees worked on projects in temporary positions. The average number of permanent employees during the year was 188.
Employees by gender and age group
In 2015, the average length of employment was 11.8 years. Eight permanently employed staff members left the Bank in 2015, resulting in an exit turnover of 4.2%.
The number of permanent employees holding a university degree was 140, or 74.1% of NIB’s staff. The average age of employees was 47.2 years. All in all, our people represented 15 nationalities.
Origins of staff
It is essential for NIB to have a highly skilled staff composed of experts from the Nordic and Baltic member countries, as well as from outside the membership area. For this purpose, NIB has put more focus on international recruitment. This effort included setting up a LinkedIn site to enable more targeted communication with potential recruitment candidates.
Every two years, NIB conducts a Work Engagement Survey (previously called Job Satisfaction Survey). The purpose of the survey is to periodically collect employee feedback on issues related to the work environment, management and well-being at work, and to initiate actions for improving practices.
The 2015 Work Engagement Survey, conducted in cooperation with the Finnish Institute of Occupational Health (FIOH), focused particularly on assessing factors such as job motivation, cooperation and engagement among NIB’s staff. The response rate to the survey was at 84%. This represents an increase of six percentage points from the 2013 survey.
NIB achieved a high score and was placed in the top 25 of FIOH’s reference sample. The results indicate high levels of identification with the Bank’s values and purpose among employees, as well as high levels of personal motivation and commitment.
As an expert organisation, NIB encourages its employees to continuously develop their skills. The Bank offers internal training opportunities, such as the Credit School. The main objective of this particular training is to ensure advanced knowledge of issues such as project finance, credit risk assessment and structured finance. All Credit School courses are tailored to NIB’s specific needs.
During 2015, NIB organised several training courses on corruption risk in the Nordics and Baltics, on how the private sector tackles corruption and operational risk training. As we are an IFI with a diverse staff, language skills are essential. Therefore, NIB offers language training to its employees. The average number of training days per employee was 4.8 in 2015, compared to 4.9 in 2014.
A further step towards strengthening the professional identity and competence of the staff was taken by initiating a new internal development programme: “Raising the Bar”. The programme aims to increase the employees’ understanding of the business environment and clients’ needs in order to give an outside-in perspective. The programme was initiated with pre-readings in October 2015, and teaching started in January 2016.
In 2015, members of the senior management took part in an advanced management program. The program is part of NIB’s strategy to develop NIB’s executive leadership skills.
Well-being and safety at work
NIB makes every effort to provide a safe and healthy working environment for its employees. The employer and the staff work together to achieve this goal, and NIB encourages its staff members to establish and maintain a sustainable balance between their professional and private lives.
NIB provides both occupational healthcare and medical care services to its employees. As a means of further improving the overall healthcare coverage of the staff, some additional features were included in the services. During 2015, employees were also provided with first aid training.
The illness absence rate, as a percentage of total working time, stood at 2.2% in 2015, compared to 2.0% in 2014.
In 2015, NIB’s Human Resources unit began the implementation of a new IT system for providing improved support to various HR processes, to the management and to the employees.
Further, the process of renovating NIB’s office building in order to modernise facilities and to comply with environmental standards started in 2015. The remodelling of the Bank’s premises is intended to foster increased cooperation between the different departments.
Code of Conduct and Ombudsman
NIB expects the highest ethical conduct from its staff members. The Code of Conduct for the staff, governed by the Compliance unit, provides guidance on business ethics and standards as well as personal conduct.
The functions and activities of the Ombudsman form an integral part of the legal framework for all staff members. The Ombudsman’s role is to enhance cooperation on employment matters and represents a means of safeguarding the rule of law within the Bank while maintaining professional conduct and an attractive working environment.
In 2015, the Ombudsman was available once a month for all staff members. Three consultations on employment matters were held, none of which resulted in any further action.
The current Ombudsman’s mandate period is from 1 August 2014 until 31 July 2016.
To ensure a workplace free of harassment, NIB has an anti-harassment policy in place, which is governed primarily by the Bank’s Human Resources unit. In cases of harassment, the Ombudsman can be consulted as well. In 2015, zero incidents of harassment were reported.
NIB’s Work Engagement Survey 2015 mirrored these numbers, and reported low levels of perceived harassment and inequality in the treatment of men and women, older and younger employees, or employees with a different cultural background.
NIB has the status of an international financial institution. Hence the labour laws and other legislation of the host country Finland, or any of NIB’s other member countries, do not automatically apply to the Bank’s employees. There are, however, some exceptions, particularly with regard to taxation, social security and pensions. These are stated in the Host Country Agreement between the Government of the Republic of Finland and the Nordic Investment Bank.
See Note 5 in the Financial Report for more information on NIB’s employees.