VEB selects the ‘second wave’ finalist candidates for regional manager positions

Vnesheconombank has completed the evaluation of the ‘second wave’ candidates for regional manager positions. The winners include 28 candidates from 23 Russian constituent entities who will enter into cooperation agreements with the Bank and set about to search for ambitious projects in their respective regions.

Candidates from these regions submitted their applications via the Agency for Strategic Initiatives LEADER-ID platform as part of the VEB new regional-level interaction model. The highly-skilled professionals will search for investment projects for the Bank’s loan portfolio.

During the second qualifying round held in 62 regions, VEB received 323 applications for regional manager positions. From August to October, the Bank experts conducted a closed review of the application forms followed by the interviews with candidates. Afterwards, the candidates took part in remote testing that comprised the assessment of skills such as business-thinking, entrepreneurship, project and task administration, relationship building and influence, open-mindedness and leadership. Following the results, the Bank expert commission identified 28 winners representing 23 regions.

“VEB is taking a new approach to building its federal representative network. The selection was conducted in a highly competitive environment. The successful candidates have shown a comprehensive knowledge of the economy and investment potential of their regions. The best results were demonstrated by candidates from the Novosibirsk, Amur and Chelyabinsk Regions, as well as the Krasnoyarsk Territory. Notably, the Krasnoyarsk Territory has got a complete team of three managers, which is the maximum in compliance with the selection criteria. However, not all regions were represented by strong candidates meeting the strict requirements of Vnesheconombank. In such regions, the selection process continues as the ‘third wave’, the results of which we will announce in December”, said Alexey Ivanchenko, Vnesheconombank Deputy Chairman and Member of the Management Board.

In the near future, the ‘second wave’ winners will undertake on-line training to acquire necessary knowledge and skills to search for investment projects compliant with the VEB requirements.

In December, Moscow will host the Second Conference of regional managers where our new colleagues will be able to better familiarize themselves with Vnesheconombank profile, current business processes, project preparation and implementation stages, as well as take part in practical work, sign cooperation agreements and receive certificates to validate their status.

Thus, based on the first and second qualifying rounds, Vnesheconombank regional team will be represented by 53 regional managers in 39 constituent entities of the Russian Federation. We expect Vnesheconombank to have its representatives in more than a half of the country’s regions.

The First Conference of Vnesheconombank regional managers was held from 25 to 26 September. The VEB regional manager network project was supported by Russian Minister of Economic Development Maxim Oreshkin, ASI General Director Svetlana Chupsheva, Business Russia Association President Alexey Repik, Kaliningrad Region Governor Anton Alikhanov and other government officials and business officers who spoke at the conference.

During the first wave, the Bank selected 25 regional managers from 16 Russian constituent entities who got down to work in September.

Regional managers are not on the staff of Vnesheconombank, operate in compliance with cooperation agreements and are remunerated on a ‘success fee’ basis.

Regional managers, project initiators and the Bank interact on a specially-built on-line platform, which became operative in September. The on-line platform is designed to automate the following stages of the investment project lifecycle:

  • Origination of clients’ applications and project filtering;
  • Rapid project assessment by regional managers;
  • Initial project filtering by the VEB control team;
  • Providing the Bank with a project concept and business model to initiate in-house expert review

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

The VEB Strategy 2021 provides for an increased focus on financing sophisticated industrial projects, infrastructure, non-resource exports, innovations and projects of the National Technological Initiative (NTI). Seeking to operate at a whole new level of quality, VEB will pro-actively search for projects complying with the state priorities, conduct in cooperation with its customers in-depth analysis of business projects, raise private co-investment, and monitor project delivery using state-of-the-art technology.

Agency for Strategic Initiatives (ASI) is a Russian autonomous company established by the Russian government in 2011 to implement a set of economic and social measures. The Agency promotes priority projects, takes measures to enhance Russia’s business environment, develops human resources, etc.

LEADER-ID is ASI information platform designed to search for, develop and promote leaders. Start of work: July 2013. Number of users: over 91,000.

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