Original Research

A global central banker competency model

David W. Brits, Theo H. Veldsman
SA Journal of Human Resource Management | Vol 12, No 1 | a575 | DOI: https://doi.org/10.4102/sajhrm.v12i1.575 | © 2014 David W. Brits, Theo H. Veldsman | This work is licensed under CC Attribution 4.0
Submitted: 21 July 2013 | Published: 30 July 2014

About the author(s)

David W. Brits, Department of Industrial Psychology and People Management, University of Johannesburg, South Africa
Theo H. Veldsman, Department of Industrial Psychology and People Management, University of Johannesburg, South Africa


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Abstract

Orientation: No comprehensive, integrated competency model exists for central bankers. Due to the importance of central banks in the context of the ongoing global financial crisis, it was deemed necessary to design and validate such a model.

Research purpose: To craft and validate a comprehensive, integrated global central banker competency model (GCBCM) and to assess whether central banks using the GCBCM for training have a higher global influence.

Motivation for the study: Limited consensus exists globally about what constitutes a ‘competent’ central banker. A quantitatively validated GCBCM would make a significant contribution to enhancing central banker effectiveness, and also provide a solid foundation for effective people management.

Research approach, design and method: A blended quantitative and qualitative research approach was taken. Two sets of hypotheses were tested regarding the relationships between the GCBCM and the training offered, using the model on the one hand, and a central bank’s global influence on the other.

Main findings: The GCBCM was generally accepted across all participating central banks globally, although some differences were found between central banks with higher and lower global influence. The actual training offered by central banks in terms of the model, however, is generally limited to technical-functional skills. The GCBCM is therefore at present predominantly aspirational. Significant differences were found regarding the training offered.

Practical/managerial implications: By adopting the GCBCM, central banks would be able to develop organisation-specific competency models in order to enhance their organisational capabilities and play their increasingly important global role more effectively.

Contribution: A generic conceptual framework for the crafting of a competency model with evaluation criteria was developed. A GCBCM was quantitatively validated.


Keywords

competencies; competency models; competency modelling; central bankers

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