MuniFin’s number of personnel continued to grow. In 2018, HR services focused on supervisory practices, orientation and preparations for HR process digitalisation. Employees feel that their work is meaningful and they value the development opportunities it provides.
Meaningful work in a growing and evolving community
Knowledgeable employees who enjoy their work are MuniFin’s most important resource, and the company invests in their wellbeing and training. MuniFin’s employees feel that their work is meaningful and they value the opportunities for growth and development it provides. In 2018, MuniFin focused especially on harmonising supervisory practices, developing orientation and preparing for the digitalisation of HR processes.
The number of MuniFin employees grew once again in 2018, up from 134 to 151. The company’s investments in business development and greater regulatory requirements increase personnel needs. Recruitment focused especially on risk management, reporting, finances and IT development.
MuniFin’s employees are committed to their work, which is evident in low personnel turnover and the long length of employment relationships. The largest age group of employees in 2018 was 30–39. The age structure of personnel is spread evenly between 26 to 62 years. In spite of the growth in number of employees, MuniFin is a close community where all employees work at the same location.
Like working for your own benefit
Employees feel that MuniFin’s responsible role as a financier of projects that support the wellbeing of society increases their motivation and the meaningfulness of their work. Some of the respondents stated that working at MuniFin is like working for your own benefit, as the financed projects affect almost all Finnish lives.
In addition to operating responsibly, MuniFin shoulders its responsibilities as an employer by taking care of personnel’s wellbeing at work and offering training and development opportunities.
Personnel wellbeing and coping at work are supported with many measures that enhance occupational fitness and prevent overburdening. In 2018, for instance, employees were provided with the opportunity to participate in a coaching programme on wellbeing at work. An anonymous survey was conducted during the review year to assess coping at work. On the basis of the results, employees have been able to turn to an occupational psychologist as part of their occupational healthcare.
According to the personnel survey, employees particularly value the opportunities for professional development offered by MuniFin. Employees feel that diverse and broad-ranging tasks at a small, international financial institution support their professional growth and career development, which increases their job satisfaction. At MuniFin, employees have a close view of the effects of the entire financing chain on societal wellbeing and service provision.
System development and digitalisation are focus areas
MuniFin will continue to focus on personnel training and development opportunities. The company’s strategic objective is to be the best expert for customers both now and in the future. Personnel expertise development is driven by this objective.
In 2018, MuniFin supported supervisory work and leadership by creating a long-term coaching programme that harmonised supervisory practices. The job competence evaluation system was also updated during the year.
Furthermore, in 2018 the company laid the groundwork for the digitalisation of HR processes. The aim of the HR system overhaul project planned for 2019 is to streamline supervisory processes, reduce error proneness and support personnel development with an e-learning environment and interactive orientation materials.
Harnessing automation and robotics that boost work efficiency shifts the focus from manual work to jobs that produce higher added value. This frees up resources for more pleasant tasks. However, it also requires personnel to have the ability to change and develop. In future, the company will support these capabilities through encouragement of taking initiative, supervisory coaching and management.
In addition, stricter regulatory requirements impose greater requirements for HR resources, due to which MuniFin made outlays on the orientation of new employees in 2018. Due to regulatory requirements, the company recruited more employees for positions in risk management, reporting, finance and the IT and business development.
On the path of growth and development
A good economy creates competition for the best experts in the industry, which sets new requirements for recruitment. MuniFin has succeeded in its recruitment in spite of the difficult situation. In 2019 the company will more systematically focus on student cooperation. The growth of the organisation also poses a challenge to information flows between employees. A future development focus is the specification of means and channels that will best serve the information needs of employees and information exchange between them.
In 2019, a key effort for MuniFin and its employees will be the implementation of values, strategy and customer strategy which were sharpened in 2018.
Employee breakdown by gender in 2018, %
Employee breakdown by age in 2018, %
Level of dedication in 2018
New perspectives from international work exchange
MuniFin supports the professional development of its employees in many ways, such as by offering training and enabling experts to share their knowledge. One means of developing competence is to participate in international work exchange in which MuniFin cooperates with parties such as BNG, the Dutch local government funding agency.
BNG is based in the Hague and like MuniFin is under the direct supervision of the European Central Bank. When BNG got in touch to ask about volunteers for work exchange, especially those specialising in reporting to the authorities, reporting manager Katariina Ulanen immediately seized the opportunity.
“I wanted to improve my understanding of the areas in which we could cooperate with BNG in regulatory supervision, reporting and data management, and to familiarise myself with BNG’s operating methods. I also wanted to share our expertise about tried-and-true models for reporting to the authorities.”
Work exchange clarified Ulanen’s own work priorities and gave her a perspective on how things could be done differently. In addition, she made plenty of important contacts during her trip who she can turn to later for sparring advice. She recommends the exchange experience without reservations.
“Work exchange is one of the most meaningful means of self-development. It’s wonderful when an employer provides this opportunity to employees. I intend to share what I’ve learned with my colleagues at MuniFin.”
Work exchange is one of the most meaningful means of self-development. It’s a wonderful opportunity. I intend to share what I’ve learned at MuniFin.