NIB is continuously developing its working culture and maintains high levels of professionalism based on its values of commitment, competence and cooperation.

Work community

At the end of 2016, NIB had 195 employees in permanent positions. Of these, 85 were women and 110 men. The average number of permanent employees during the year was 192. In addition, three employees worked on projects in long-term temporary positions.

In 2016, the average length of employment was 11.7 years. Seven permanently employed staff members left the Bank in 2016, resulting in an exit turnover of 3.6%.

The number of permanent employees holding a university degree was 144, or 74% of NIB’s staff. The average age of employees was 47 years. All in all, our people represented 17 nationalities.

Employees by gender and age group

as of 31 Dec 2016

Employees by gender and age group

Origins of staff

as of 31 Dec 2016
%, distribution by country

Origins of staff

NIB continued to communicate with potential recruitment candidates via LinkedIn. The Bank also launched a career page on its website ( to highlight relevant information about NIB as an employer.

Skills development

NIB offers training opportunities for its staff to develop both professionally and personally. In 2016, NIB organised various training courses on topics such as derivatives and derivatives pricing, banking regulations, introduction to banking and the financial markets.

Language skills are essential due to NIB’s diverse staff and status as an international financial institution (IFI). NIB therefore offers internal language training. The average number of training days per employee, including professional and language training, was 5.4 in 2016, compared to 4.8 in 2015.

A continuous 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.

“Raising the Bar” was first launched in January 2016 and included 20 participants. In January 2017, the second round of the programme kicked off with a new group of participants. The scope has remained the same.

Well-being and safety at work

NIB makes every effort to provide a safe and healthy working environment for its employees and 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. The illness absence rate, as a percentage of total working time, stood at 2.2% in 2016, which is the same as in 2015.

Ongoing developments

In 2016, the Human Resources Unit continued to implement NIB’s new HR IT system, which offers online tools in various HR-related processes to the management and to the employees. The system now includes new modules, such as “Performance” and “Learning”. The next module to be implemented is “Compensation”.

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 2016, 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.

To ensure a workplace free of harassment, NIB has anti-harassment guidelines in place, which are governed primarily by the Bank’s Human Resources unit. In cases of harassment, the Ombudsman can be consulted as well. In 2016, zero incidents of harassment were reported.

NIB’s fundamental objectives as an employer include promoting of balanced diversity among the staff, equal treatment of all staff members and preventing of discrimination. In an effort to address issues related to these objectives, NIB has put in place an Equality and Diversity Plan (2013–2015) that identifies different development areas.

In 2016, a working group consisting of members representing the staff as well as the employer reviewed the previous Plan’s development areas and drew up a new plan: the Equality, Diversity and Inclusion Plan 2016–2018.

For the forthcoming period, efforts will focus on creating awareness among the staff about a diverse and inclusive work environment free of any form of harassment or discrimination.

Legal status

NIB has the status of an IFI. 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 7 in the Financial Report for more information on NIB’s employees.