VEB Certified Managers to Commence Work in Russian Regions in September

Vnesheconombank’s remote evaluation of applications filed by candidates for the position of certified managers from Russia’s 23 pilot regions is coming to an end. From 3 July 2017, the Bank will proceed to holding interviews with the best candidates who will commence work in the regions in September.

As a reminder, following the remote receipt of applications via a specialized LEADER-ID platform of the Agency for Strategic Initiatives, VEB has received more than 180 applications from candidates residing in the territory of Russian constituent entities included in the pilot project. Most of the applications have been received from business entities (47%) and regional development institutions (26%). Potential candidates also include representatives of financial organizations, educational institutions and non-governmental organizations.

Final decisions on the candidates from the pilot regions will be made by an expert commission comprising the executives from VEB and the ASI before late July. Those selected will have to sign confidentiality agreements. From 14 August 2017, the managers will be taking online training and testing. In late September, Moscow will host a two-day conference to be attended by the selected managers and Vnesheconombank management, during the first day of which the Bank's executives will focus on the priorities of Russia's largest development institution. On the second day, the regional managers will work in groups analyzing specific cases. At the end of the Conference, the regional managers will receive Certificates and sign cooperation agreements, and then the certified managers will begin work in their regions.

In 62 constituent entities of the Russian Federation included in the second stage of the project, the acceptance of applications based on the LEADER-ID platform is going on and will be due to close on 7 July 2017. Regional professionals still have an opportunity to join Vnesheconombank’s project and engage in the search for and screening of investment projects in compliance with the Bank’s priorities. The received applications will be subject to remote evaluation prior to 17 July 2017. The best candidates will be interviewed before 4 August 2017. After entering into confidentiality agreements, the managers will take online training and testing by 15 September 2017, and in late September they will also take part in the Conference for regional managers from all Russian regions.

“VEB takes very seriously the selection of managers in the regions, as they will become our full-fledged partners and will help to create a pipeline of regional investment projects,” said Deputy Chairman - Member of the Management Board of Vnesheconombank Alexey Ivanchenko. “We see that highly qualified regional professionals have taken a great interest in our project. We would like to thank all the candidates for their participation and congratulate those who made it to the final stage. Feedback will be given to all the candidates from the pilot regions who took part in the selection process. The most successful candidates will be interviewed, trained and certified. The certified managers will be introduced to the heads of Russian constituent entities and the business community in the regions. In cooperation with the managers, we aim to build an effective system for the identification, screening and financing of promising business projects in the regions.”

The institution of certified managers will become one of the basic tools to build a strong pipeline of regional projects in the context of VEB's new investment process. The collaborative effort of managers, project initiators and the Bank will be based on the online platform that will make the following possible:

• selection of applications by sectoral financing priorities;
• assessment of the project investment possibilities using key financial indicators;
• monitoring of changes in application status and viewing of other statistics in a convenient graphical form;
• making express evaluation of projects;
• providing advisory support to customers on the part of certified managers;

In addition, the online platform will consolidate information about the available government support tools. Using this information, certified managers will be able to determine those government support tools that are applicable to projects in their respective regions and compare them with the way in which support tools are provided in other constituent entities of the Russian Federation.

State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” is a national development bank and one of the largest financial institutions in Russia. Established in 1924, Vnesheconombank has been operating in compliance with a special Federal Law on the Bank for Development since 2007. Vnesheconombank’s supreme governing body is the Supervisory Board headed by the Chairman of the Russian Government Dmitry Medvedev.

In compliance with the Strategy 2021, VEB will focus on financing of projects in downstream industries, infrastructure development, promotion of non-resource exports and conversion of the defense industry to civilian products, support for innovations and the National Technological Initiative projects. Seeking to operate at a whole new level of efficiency, VEB will proactively look for projects meeting government priorities, perform in-depth analysis of business projects in cooperation with its customers, attract private co-investments, and monitor project progress based on cutting-edge technologies.

The Agency for Strategic Initiatives (ASI) is a Russian autonomous non-commercial organisation established in 2011 by the Government of the Russian Federation to implement a set of economic and social measures. ASI facilitates priority projects, and undertakes various initiatives designed to enhance the business environment in Russia and promote professional development, etc.

LEADER-ID is ASI’s information platform for the search, development and promotion of leaders. The platform was scheduled to start operation in July 2013. The number of users exceeds 91 thousand.

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