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2.16 Corporate Transformation Activities
The CBRT’s steps towards a corporate transformation, which had started in 2017, accelerated in 2018. The corporate transformation program aims to make the CBRT an exemplary model both in Turkey and abroad as a pioneer in becoming a central bank of the future by adopting leading global standards and by being open to continuous development. It also aims to ensure that the CBRT contributes strongly to the country’s economic stability and lasting growth objectives.
The main focuses of the corporate transformation were enhancement of organizational productivity, more effective and simpler processes, human resources practices that are of global standards and supportive of development, focus on main duties and revision of the corporate culture in such a way as to support its new perspective.
In this context, the new organizational structure of the CBRT that will enhance its efficiency took effect on 1 March 2018 with an aim to simplify the organization with centralized processes, equip it with a structure based on productivity and to align it with strategies and international best practices.
Work processes were redesigned with involvement of employees, the areas requiring further improvement were identified and IT-related solutions for department-specific tasks were determined. The topics discussed during the process have already started to bear concrete outcomes.
Studies related to the new system of career management were completed. Accordingly, the CBRT was structured in a way that attaches importance to developing human resources which is based on international best practices and expertise and which is plain and understandable.
As a part of project management and monitoring activities, initiatives were designed to contribute to corporate development and encourage joint works by strengthening communication with internal and external stakeholders. The initiatives related to career management, two-way communication, risk management, payment systems, support services and process management were implemented satisfactorily by end-2018. Of the initiatives that are in the project phase, significant outcomes have been derived from those in the fields of monitoring and reporting financial transactions, conducting issue transactions at higher standards and benefiting from information technologies in a more effective manner. The CBRT has started to benefit from these outcomes in the conduct of its operations. Besides, the CBRT has also began and progressed in works related to common accounting based on a system which enables execution of payment and accrual procedures as well as recording and monitoring of accounts within the CBRT to common standards by using leading technologies.
