OFID hosts International Finance Institutions Human Resources Directors Annual Meeting

Vienna, Austria, May 10, 2016. The OPEC Fund for International Development (OFID) hosted the 12th Annual Meeting of the International Finance Institutions (IFIs) Human Resources Directors at its headquarters May 3–4. This high-level HR network discusses strategy and works to foster collaboration and advance best practices in the area of HR.

The event brought together representatives from more than 20 IFIs, including the World Bank, the International Monetary Fund, the Asian Development Bank, the African Development Bank, and the European Bank for Reconstruction and Development, among others.

The meeting was opened by OFID Director-General, Suleiman J Al-Herbish, who highlighted OFID’s journey from a temporary account set up forty years ago to a major player in the international development arena. An effective HR strategy had been key to this success, he said: “None of OFID’s achievements would have been possible without the hard work and commitment of the high caliber staff we have recruited.”

A similar sentiment was expressed by keynote speaker Abdullah S Jum’ah, former President and CEO of the Saudi Arabian Oil Company and Chairman of the Saudi Arabian Investment Bank, who recalled delivering a speech to Saudi Aramco staff on the company’s 75th Anniversary. “I told them that what makes us special is not our assets, not our hardware, not the resources we have in the ground; rather, what makes a difference is the people we have in Saudi Aramco,” he said.

Speaking on the topic “Planning for the unplannable and managing for the unmanageable,” Mr Jum’ah stressed the role of leadership in times of crisis or change, stating “As a manager you are concerned with processes, but as a leader you are concerned with emotions, interpersonal relations, behaviors, people, human relations and soft skills.”

The central theme of the two-day meeting was the role of HR in a changing environment. Topics included: the emerging leadership program; compensation and benefits; talent development; and HR metrics. Major issues were referred to the IFI compensation and benefits technical group for further discussions and recommendations during their upcoming meeting in Paris in August, 2016, which will be hosted by the Council of Europe Development Bank.

The next IFI HR Directors Annual Meeting will be hosted by the Inter-American Development Bank in 2017.