INTERNATIONAL JOURNAL OF SCIENTIFIC RESEARCHERS
ISSN: 3030-332X Impact factor: 8,293
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Nurimova Nilufar Jurayevna
Independent Reasercher
Institute for the Study of Young
Problems and Training of Prospective Personnel.
ANALYSIS OF THE FORMATION OF PERSONNEL RESERVES IN
COMMERCIAL BANKS
Аnnotation:
Professionalism - creating the necessary conditions for regular training of bank
employees, taking care of their social protection and motivation, forming a team of professionals
- is the main task in the process of globalization.
Transformation
-is change, but what kind of
change? Primarily, it's a change in heart and mind. It's the ability to step out of one's comfort
zone.
Keywords:
Staff Policy, Personnel Reserve, Candidate Staff, Selection.
It is well known that in recent years, within the framework of large-scale institutional reforms
being carried out in our country, measures are being taken to ensure the stability of the banking
and financial sector, its integration into the global financial system, and to improve the quality of
commercial bank services and their accessibility, primarily for private businesses and the
population.
In accordance with the Decree of the President of the Republic of Uzbekistan No. PF-5296 dated
January 9, 2018, "On measures for the radical improvement of the activities of the Central Bank
of the Republic of Uzbekistan," the Central Bank is tasked with the gradual implementation of a
modern staff management system that ensures the rational selection, placement, and rotation of
employees, the qualitative formation of a personnel reserve, as well as the increase of labor
productivity and motivation of employees.
To ensure the implementation of this Decree, the Central Bank of the Republic of Uzbekistan
developed a Staff Management Policy for 2019-2021. The main goal of this Policy is to form a
highly qualified personnel potential that ensures the achievement of the Central Bank's strategic
objectives.
In particular, consistent efforts are being made to transform commercial banks with state
participation by introducing modern corporate governance principles and information and
communication technologies, and by improving their operational efficiency and investment
attractiveness. Additionally, according to Resolution No. 523 of the Cabinet of Ministers of the
Republic of Uzbekistan dated June 25, 2019, measures have been adopted to transform the joint-
stock commercial mortgage bank "Ipoteka-bank" and subsequently privatize it with the
participation of the International Finance Corporation.
In commercial banks, the process of establishing and maintaining a personnel reserve is vital
for ensuring a steady supply of qualified and competent employees who can fill key positions as
needed. Here's an overview of the key elements involved in this process:
INTERNATIONAL JOURNAL OF SCIENTIFIC RESEARCHERS
ISSN: 3030-332X Impact factor: 8,293
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1.
Talent Identification:
Banks utilize a range of methods to identify potential candidates
for their personnel reserve. This includes performance reviews, skills assessments, and feedback
from supervisors.
2.
Training Programs:
Once potential candidates are identified, they undergo extensive
training and development programs. These programs are tailored to enhance their skills,
knowledge, and leadership capabilities.
3.
Mentorship and Coaching:
Experienced employees or leaders within the bank often
provide mentorship and coaching to those in the personnel reserve. This helps in transferring
knowledge and preparing them for higher responsibilities.
4.
Succession Planning:
Banks create succession plans to ensure there are ready candidates
to step into critical roles when they become vacant. This involves mapping out career paths and
providing the necessary development opportunities.
5.
Performance Evaluation:
Regular performance evaluations are conducted to monitor
the progress and development of employees in the personnel reserve. This helps in identifying
any gaps and addressing them promptly.
6.
Retention Strategies:
To retain the best talent, banks offer competitive compensation
packages, career development opportunities, and a positive work environment.
By implementing these strategies, commercial banks can effectively manage their personnel
reserves, ensuring they have a pool of well-prepared and capable employees ready to take on
new challenges and responsibilities. This ultimately contributes to the bank's stability and growth
in the competitive financial market.
The main tasks of the staff management policy consist of creating the following effective
systems:
Selection of employees and their adaptation to the work process;
Assessment and effective motivation of employees;
Development of employees;
Talent management and formation of a personnel reserve;
Development of corporate values.
The procedure for selecting candidates for available vacancies on a competitive basis
The selection of candidates for available vacancies at the Central Bank is carried out in
accordance with the Regulation "On the procedure for selecting candidates for available
vacancies at the Central Bank of the Republic of Uzbekistan on a competitive basis," approved
by the decision of the Board of the Central Bank of the Republic of Uzbekistan No. 16/7 dated
July 18, 2019. This Regulation introduced a system for the Central Bank of the Republic of
Uzbekistan to select highly qualified employees on a competitive basis under the principles of
transparency and openness. The main goal of the competition is to ensure the successful
achievement of the Central Bank's strategic objectives by recruiting highly qualified employees.
The selection process is carried out in the following stages:
Analysis of candidates' resumes;
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Testing (professional knowledge, logical reasoning, knowledge of banking legislation,
and foreign languages);
Interview on the candidate's alignment with the Central Bank's values;
Interview on the candidate's professional and leadership competencies.
Candidates who successfully pass the above stages will be invited to work at the Central Bank of
the Republic of Uzbekistan.
Staff Training and Development Policy
The Central Bank of the Republic of Uzbekistan has established a continuous system for the
training, retraining, and professional development of its employees. This system includes
seminars, training courses, workshops, international conferences, internships, and foreign
business trips organized by international organizations, financial institutions, foreign banks, and
other entities.
For the employees of the Central Bank, there are opportunities to pursue master's programs on a
competitive basis, with grants provided by the International Monetary Fund (IMF), Japan
International Cooperation Agency (JICA), Korea International Cooperation Agency (KOICA),
the National Graduate Institute for Policy Studies (GRIPS) in Japan, University of Tsukuba and
Hitotsubashi University in Japan, the Japanese Development Scholarship (JDS) program, and
other grants from Japanese international universities.
The mission of "Ipoteka Bank" OTP Group is to create the highest level of economic value for
its shareholders and bank clients. High-quality customer service and leadership in selected
markets are of paramount importance for the bank's future success. The bank's corporate
values—team spirit, innovative thinking, positive attitude, and excellent quality—play a crucial
role in fulfilling the bank's mission.
In providing services to its customers, "Ipoteka Bank" is committed to adhering to high standards
of professionalism, employing innovations, being open to new ideas, leveraging feedback, and
carrying out consistent and rigorous activities.
"Ipoteka Bank" OTP Group is one of the leading banks in Uzbekistan that is among the first to
undergo transformation in cooperation with the International Finance Corporation (IFC). The
bank stands on the brink of becoming a top-tier financial institution operating on international
standards in the near future.
At the bank, opportunities are created for all employees, regardless of gender, nationality, or
language, to grow and develop as top-notch professionals in their field, to confidently strive
towards their goals, and to become an integral part of the large and cohesive team known as
"Ipoteka Bank."
Today, the bank's staff management system is being fundamentally reviewed, transitioning from
the old "personnel management" format to the new "human resources" format. This shift
emphasizes not just formalizing documents but also focuses on the selection, hiring, ongoing
development of employees, material and non-material incentives, retention of qualified
INTERNATIONAL JOURNAL OF SCIENTIFIC RESEARCHERS
ISSN: 3030-332X Impact factor: 8,293
Volume 10, issue 1, February 2025
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specialists, and providing psychological support to employees. This approach is based on priority
concepts aimed at developing a modern human resources policy.
In accordance with the Decree of the President of the Republic of Uzbekistan No. PF-5296 dated
January 9, 2018, "On measures for the radical improvement of the activities of the Central Bank
of the Republic of Uzbekistan," the Central Bank is tasked with the gradual implementation of a
modern staff management system that ensures the rational selection, placement, and rotation of
employees, the qualitative formation of a personnel reserve, as well as the increase of labor
productivity and motivation of employees.
To ensure the implementation of this Decree, "Ipoteka Bank" OTP Group has developed a staff
management policy. The main goal of this policy is to form a highly qualified personnel
potential that ensures the achievement of the bank's strategic objectives.
Reflecting on the experience of "Ipoteka Bank" OTP Group, the main tasks of the staff
management policy have been identified as follows:
Selection of employees and their adaptation to the work process;
Assessment and effective incentivization of employees;
Development of professional skills of employees;
Selection of talented personnel and formation of a personnel reserve;
Development of corporate values.
The selection of candidates for available vacancies at the bank is carried out in accordance with
the Regulation "On the procedure for selecting candidates for available vacancies at the Central
Bank of the Republic of Uzbekistan on a competitive basis," approved by the decision of the
Board of the Central Bank of the Republic of Uzbekistan No. 16/7 dated July 18, 2019. This
Regulation introduced a system for the Central Bank of the Republic of Uzbekistan to select
highly qualified employees on a competitive basis under the principles of transparency and
openness. The main goal of the competition is to ensure the successful achievement of the
Central Bank's strategic objectives by recruiting highly qualified employees.
The selection process is carried out in the following stages:
Analysis of candidates' resumes;
Testing of professional knowledge and logical reasoning, as well as determining the level
of knowledge of banking legislation and foreign languages;
Interview to assess the candidate's alignment with the Central Bank's values;
Interview to evaluate the candidate's professional and leadership competencies.
Candidates who successfully pass the above stages will be invited to work at the bank.
The bank has established a continuous system for the training, retraining, and professional
development of its employees. This system includes seminars, training courses, workshops,
international conferences, internships, and foreign business trips organized by international
organizations, financial institutions, foreign banks, and other entities.
INTERNATIONAL JOURNAL OF SCIENTIFIC RESEARCHERS
ISSN: 3030-332X Impact factor: 8,293
Volume 10, issue 1, February 2025
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worldly knowledge
Index:
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For its employees, there are opportunities to pursue master's programs on a competitive basis
with grants provided by the International Monetary Fund (IMF), Japan International Cooperation
Agency (JICA), Korea International Cooperation Agency (KOICA), the National Graduate
Institute for Policy Studies (GRIPS) in Japan, University of Tsukuba and Hitotsubashi University
in Japan, the Japanese Development Scholarship (JDS) program, and other grants from Japanese
international universities.
Additionally, through material and non-material incentives, the training and development system
for employees, the bank is undertaking numerous efforts to strengthen its image as an employer.
This approach to staff management undoubtedly yields the expected results, as employees are the
main strength and value of the bank. By staying true to our values such as leadership, the desire
for victory, making the right choices, supporting innovation and initiative, the "Ipoteka Bank"
team serves its shareholders, customers, and partners.
One of the key factors for the bank's sustainable development and competitiveness is its human
resources, particularly the professional knowledge and skills of its employees. Training is one of
the most effective methods of staff preparation. "Ipoteka Bank" has an internal team of trainers,
which has become a unique evolution of the bank's corporate education system. These trainers
are specialists with sufficient knowledge and extensive experience in the banking sector.
Employees of bank branches actively participate in relevant training and seminars organized
with the support of the Personnel Training and Development Department, enhancing their
knowledge. In addition, training helps employees to communicate in an informal environment,
which significantly improves the climate within the team.
By investing in the training, professional development, and motivation of its employees, and
striving for their professional and personal growth, the bank has been able to form a team of
leaders. The bank's management has created a creative environment conducive to working on
projects and engaging each employee in the creative process. Team-building events organized
for managers and department heads help them acquire new knowledge and improve their
management skills and competencies.
The main tasks in the field of quality for "Ipoteka Bank" are to ensure competitiveness, diversity,
and a high level of banking services that enable the improvement of the bank's financial stability
and reliability. To enhance the quality of operations in order to meet customer demands, the bank
focuses on the following priority directions:
Creating and continuously improving a quality management system that meets the
requirements of ISO 9001:2015;
Enhancing organizational and technological processes that impact the quality of banking
services;
Ensuring a high level of professionalism among bank employees;
Eliminating ambiguity in the clear and precise distribution of responsibilities, functional
duties, and obligations among all bank employees;
Creating motivating conditions to improve the quality and efficiency of work, ensure
high levels of labor and performance discipline, and involve all bank employees in the creation
and development of the quality management system;
INTERNATIONAL JOURNAL OF SCIENTIFIC RESEARCHERS
ISSN: 3030-332X Impact factor: 8,293
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Forming a favorable corporate environment within the bank and building relationships
with external stakeholders;
Efficiency in decision-making processes, flexible interest and tariff policy, and
individualized customer service;
Fully and timely fulfilling obligations to customers and counterparties;
Introducing new and improved services to adapt to changing customer needs;
Ensuring a sufficient number of service points to expand the regional presence and
customer base of bank services;
Utilizing modern information banking technologies to perform services and calculations
qualitatively;
Maintaining banking secrecy in customer service, adhering to the principles of
transparency and openness in business, ensuring transparency of information for all interested
parties, and complying with the requirements of the law, the Central Bank, and other state
supervisory and regulatory authorities;
Strengthening the bank's active position in improving and developing the financial
market, as well as maintaining the bank's positive reputation among customers, contractors, and
other interested parties.
In implementing the quality policy, the bank is obliged to comply with the requirements of the
Quality Management System in accordance with ISO 9001:2015 standards and to continuously
improve the system's effectiveness. The bank's management ensures that each employee is
informed about the quality policy, provides necessary explanations, and ensures that the policy is
implemented by all employees. The responsibility for implementing the quality policy lies with
the chairman of the management board of "Ipoteka Bank" OTP Group.
List of References:
1. Resolution No. 523 of the Cabinet of Ministers of the Republic of Uzbekistan dated June 25,
2019
2. Staff Management Policy of the Central bank Uzbekistan
3. Staff Management Policy of the Ipotekabank OTP Group
4. Cbu.uz
5. Ipotekabank.uz
