We are committed to building a high-performing organization that enables us to deliver higher impact and build deeper relationships. We will continue our transition towards a more efficient and productive organization that is process, data and values-driven. This transition is focused on two areas. First, we will continue to address regulatory requirements, reduce operational risk, and improve processes by bringing our house in order so as to build a strong foundation for the future. Second, we will step up our efforts in seeking productivity gains inspired by the new ways of working triggered by COVID-19 and creating synergies and new forms of collaboration internally and with our partners.
At the heart of this lies our digitalization agenda that brings in technology to support the needs of our growing business, to lower the organization’s risk profile and to further enhance our own efficiency and productivity. We will allocate sufficient time and resources towards building a solid foundation of IT systems and applications, data management and automating business processes to ensure inter-connectivity and flexibility.
We will continue to redesign and optimize processes to deliver better and faster service to our customers and ensure we are compliant with regulatory requirements. Focusing, for example, on:
Know Your Customer (KYC). We will continue to improve our KYC process to mitigate risks associated with financial economic crime. We will ensure it is supported by a strong FEC policy and control framework, robust governance, systems and a dedicated team of skilled employees.
ESG risk management. We will strengthen ESG risk management by aligning internal policies, risk appetite, controls and processes to improve how we assess, track and manage ESG risks.
Issue management. We will expand our efforts to safeguard FMO’s reputational risk by bringing in stakeholder perspectives and expertise on FMO’s business, policies and future investments as well as on dilemmas we face. By creating a two-way dialogue, we aim to establish a better understanding among our stakeholders and ourselves of the impact we may have on our environment.
This transition requires a new way of working and culture that is trust-based, inclusive and values-driven. FMO focuses on ongoing dialogue and engagement with its employees where internal collaboration, openness, transparency and accountability are key. We continue to upskill our employees at all levels of the organization; for instance, through a revised Learning & Development strategy aimed to align skills and capabilities with our strategic objectives. We will also launch a Leadership program to facilitate talent development. Furthermore, we aim to develop more effective knowledge management and exchange, improving the way we collect, store and share knowledge with our external community.