Statement by the Managing Director on the Management Implementation Plan for the IEO Report on the Fund's Performance in the Run-Up to the Crisis
Policy Papers, May 25, 2012
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Bibliographic details
- Published: May 25, 2012
- Series: Policy Papers
Overview and purpose
- The Management Implementation Plan puts forward a range of measures crucial to strengthening surveillance, carefully drawing on the IEO’s report and on the Triennial Surveillance Review (TSR).
- Stronger surveillance cannot be cast simply in terms of technical processes (for example, better data, risk assessments, macro-financial integration, or messaging); institutional culture and how daily work is conducted must also be addressed.
- The Managing Director focuses on two central aspects: (1) breaking down silos; and (2) promoting diverse views/candor.
- Management has implemented a set of initiatives over the past nine months, with initial results reviewed and a proposed way forward for remaining tasks.
Key findings and themes
- Surveillance strengthening requires both technical improvements and cultural/institutional change.
- Two priority themes identified:
- Breaking down silos across the institution.
- Promoting diverse views and greater candor in analysis and advice.
- Management has taken concrete initiatives in response to the IEO report and the TSR, implemented over a nine-month period, yielding initial outcomes to be built upon.
Initiatives and initial results (as described)
- Management team implemented initiatives over the past nine months aimed at:
- Enhancing cross-unit collaboration to reduce silo effects.
- Encouraging diverse perspectives and candid discussion in surveillance work.
- The statement reviews initial results from these initiatives and proposes next steps to complete the reform agenda.
Contextual and related institutional information
- Date of statement: May 25, 2012.
- Subjects covered in the publication metadata: Corporate governance, Fund organizational changes, Independent Evaluation Office, Managing Director reports, Staff mobility, Staff recruitment.
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Statement by the Managing Director on the Management Implementation Plan for the IEO Report on the Fund's Performance in the Run-Up to the Crisis, May 25, 2012