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Institutional Development in the Financial Sector in Libya (2009-2010)
websitebuilder-hub • Mar 23, 2018
OpenCities director Dr Stephens worked with McKinsey as an external expert (provided by OpenCities) on two key projects: a) reform of the financial sector training academy that was responsible for meeting the professional training needs of the financial sector in Libya; and b) developing an operational manual for the Libya Sovereign Wealth Fund.
Both activities drew on Dr Stephens’s expertise in organisational development, his knowledge of vocational training (based on his experience in London) as well as his fluency in Arabic and background at the Bank of England.
Dr Stephens was the lead expert on content for the assignment on reforming the financial sector training academy. He undertook an analysis of the demand from a range of financial institutions for training; assessed the nature of the Academy’s offer (which was excessively geared to language training rather than professional training); and co-produced the final report and recommendations that were submitted to the Governor of the Bank of Libya. These highlighted the need, among others, for the Institute to be more responsive to the needs of financial institutions in both the public and private sectors.
As part of the project focused on the development of an operational manual for the Libya Sovereign Wealth Fund, Dr Stephens supported and advised a team reponsible for the modernisation of all operational processes in the organisation. He focused particularly on human resource and performance management processes. But won the trust of the CEO of the Sovereign Wealth Fund sufficiently to be able to advise and support on issues of internal communication to staff.
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