Update on the Implementation of the MIGA Policy and Procedure Framework. Public Disclosure Authorized. Public Disclosure Authorized

Transcription

1 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Update on the Implementation of the MIGA Policy and Procedure Framework MULTILATERAL INVESTMENT GUARANTEE AGENCY WORLD BANK GROUP

2 Executive Vice President Vice President and Chief Operating Officer Director and General Counsel Director, Operations Director and Chief Financial Officer Director, Economics and Sustainability Chief Officer, Strat_egy, Communication and Partnerships Project Team Keiko Honda Michel Wormser Ana-Mita Betancourt Edith Quintrell Lakshmi Shyam-Sunder Ravi Vish Marcus Williams Dessislav Dobrev iii Page

3 Table of Contents I. EXECUTIVE SUMMARY II. INTRODUCTION... 1 III. IMPLEMENTATION MEASURES FOLLOWING BOARD APPROVAL OF THE MIGA POLICY AND PROCEDURE FRAMEWORK... 2 IV. MIGA P&P DOCUMENT INVENTORY AND IMPLEMENTATION PLAN... 3 V. NEXT STEPS iii I Page

4

5 I. EXECUTIVE SUMMARY 1. On October 17, 2013, the MIGA Board of Directors approved a proposal for a new policy and procedure framework ("MIGA P&P Framework") outlined in a paper submitted by MIGA ("MIGA P&P Paper"). 1 The purpose of the tvfiga P&P Framework is to improve the development, issuance, dissemination and management of the policies and procedures applicable to the activities of MIGA. The MIGA P&P Framework is consistent with the policy and procedure frameworks of the Bank and IFC in terms of categorization, design and other aspects. 2. In the MIGA P&P Paper, MIGA's Management stated that "[o]nce the inventory of all policies and procedures within MIGA is completed, Management will return to the Board in early 2014 with an early stage look at the implementation plan for the MIGA P&P Framework." 2 3. This paper provides an update on the implementation of the MIGA P&P Framework. It summarizes: (a) the actions taken since Board approval of the MIGA P&P Framework and (b) the MIGA P&P Framework implementation plan, including completion date targets for each task. II. INTRODUCTION 4. On September 25, 2013, the Committee on Governance and Executive Directors' Administrative Matters ("COGAM") endorsed MIGA's proposal of a new framework for developing, issuing, managing and disseminating regulatory documents for- MIGA ("MIGA P&P Framework"). The recommendations in the proposal were prepared in response to a review completed by the Internal Audit Vice Presidency ("IAD"Y of the documents that govern the activities of the World Bank Group institutions. On October 17, 2013, the MIGA Board of Directors approved the adoption of the MIGA P&P Framework (and the Policy attached thereto) as endorsed by COG AM. 5. The purpose of the MIGA P&P Framework is to organize MIGA's policies and procedures ("P&P Documents") in a more efficient and user-friendly manner and to create a searchable repository (the "Repository") to facilitate their storage and access. The MIGA P&P Framework does not prescribe policy or procedural content for the MIGA operating units. The MIGA Board and Management will continue to issue policies, directives, procedures and guidance to staff within their areas of responsibility. 1 MIGA Policy and Procedure Framework, MIGA/R MIGA P&P Paper, paragraph Audit of WBG Framework for Policies and Procedures, lad Report No. WBG FY12-04, dated January 20,2012., lipage

6 6. The MIGA P&P Framework is consistent with the policy and procedure frameworks of the Bank 4 and IFC 5 in terms of categorization, design and other aspects. MIGA coordinated with the Bank and IFC in developing the MIGA P&P Framework and will continue to collaborate with them during the implementation process. 7. The MIGA P&P Paper stated that by December 31, 2013, MIGA would complete an inventory of all policies and procedures within the Agency and prepare an implementation plan that sets out the steps and timelines for roll-out of the MIGA P&P Framework. 6 III. IMPLEMENTATION MEASURES FOLLOWING BOARD APPROVAL OF THE MIGA POLICY AND PROCEDURE FRAMEWORK 8. Since the date of Board approval of the MIGA P&P Framework, MIGA has completed the following tasks: (a) assembled a P&P inventory internal working group (comprising representatives from each MIGA operating unit) responsible for conducting a thorough and comprehensive collection of all existing P&P Documents; (b) completed the collection of all ~xisting MIGA P&P documents and compiled a detailed inventory listing all of the existing MIGA P&P Documents, grouped by MIGA operating unit and setting forth the description, date and link for each P &P Document; 7 (c) issued a Directive effective January 1, 2014, with respect to the MIGA P&P Framework including standard MIGA templates for Policies, Directives, Procedures and Guidance; (d) commenced coordination between MIGA Information Management & Technology personnel and the Bank's Corporate Client Portfolio Unit with respect to development and implementation of the P&P Document Repository for MIGA; (e) drafted an implementation plan for the P&P Framework setting forth the action steps to be taken, the responsible parties for each action step and the target timelines for them; and 4 The new policy and procedure framework of the Bank was approved by the Bank's Board on August 9, Bank Policy and Procedure Framework, R , IDA/R Directive: 1FC 's Policies and Procedures Framework, Catalog No. PP201, adopted June 15, 2009, and Procedures: IFC's Policies and Procedures Framework, Catalog No. PP401, adopted on June 29,2009 and amended on May 24, MIGA P&P Paper, para In completing the inventory, MIGA excluded P&P Documents applicable generally to the World Bank Group as a whole, such as documents that govern human resources matters and general corporate Board procedures. 21Page

7 (f) provided all MIGA staff with an overview of the P&P Framework, tasks ahead and future implications for P&P Document issuance, dissemination, periodic review and storage.. IV. MIGA P&P DOCUMENT INVENTORY AND IMPLEMENTATION PLAN 9. The following list sets forth the major components of the MIGA P&P Framework implementation plan, together with target dates for completion of each task as applicable. (a) Review and categorize each P &P Document listed on the inventory and determined to be valid and in effect as a Policy, Directive, Procedure or Guidance in accordance with the MIGA P&P Framework. Completion date target: January 31, 2014 (b) Designate an Issuer and Sponsor for each P&P Document listed on the inventory in accordance with the MIGA P&P Framework. Completion date target: January 31, 2014 (c) Determine final disposition and take appropriate action regarding each P &P Document in order to bring it into conformity with the P&P Framework as necessary. Completion date target: March 31, 2014 Such disposition may include: (i) reissuing the document in the prescribed format applicable to a Policy, Directive, Procedure or Guidance in accordance with the MIGA P&P Framework; or (ii) redrafting the document if necessary to comport with the appropriate content and format set forth in the MIGA P&P Framework; (d) Complete all IT architecture work necessary for the operation of the MIGA P&P Document Repository and finalize populating the MIGA P&P Document Repository with all P&P Documents listed in the inventory. P&P Documents will be searchable and will be catalogued by category, relevant MIGA issuing and sponsoring unit, subject matter, and other criteria to be determined. 8 Completion date target: Apri130, To maximize operational efficiency and leverage resources, the Repository will utilize the same online system that is currently being developed for the Bank's policy and procedure framework as specified in the paper presented by the Bank, with modifications as appropriate to reflect the MIGA P&P Framework (such as the distinctions that the Board is the sole source of Policy and that MIGA P&P Documents are subject to periodic review). MIGA is currently coordinating with the Bank's Corporate Client Portfolio Unit with respect to development and implementation of the P&P Document Repository for MIGA in conjunction with the Bank's Repository. MIGA intends to start publishing its P&P Documents in this online system as soon as it is completed by the Bank, which is in early Page

8 (e) Communications and training with respect to the Repository through MIGAwide announcements or other methods of dissemination as necessary. Completion date target: May 15,2014 (f) Conduct meetings with IFC and the Bank to coordinate on possible process and Repository improvements, client satisfaction, possible content and _format improvements, etc. Completion date target: periodically throughout the implementation process and after completion of the Repository (g) Measure the success of the MIGA P&P Framework, including measuring actual number of "hits" on the Repository, possible content and format improvements, and surveys of MIGA staff regarding organization of the Repository, ease of use, etc. Completion date target: after completion of the Repository and periodically thereafter V. NEXT STEPS 10. Consistent with the MIGA P&P Framework, MIGA has commenced a detailed review of it~ Operational Regulations, in an effort to optimize corporate governance and strengthen operational effectiveness. Specific proposals on MIGA's Operational Regulations.. will be presented to the Board for consideration as part of the implementation of the MIGA P&P Framework before the end offy Following the formal roll-out of the MIGA P&P Framework and the initial stages of its operation and usage, MIGA's Management will coordinate with the Bank and IFC with a view to returning to COGAM with a progress report. It is expected that such report will (i) include an update on the implementation and early results of the MIGA P&P Framework and (ii) provide an update on the collaboration among the Bank, MIGA and IFC... 41Page.