Page 40 - Invited Paper Session (IPS) - Volume 2

IPS178 Barend de Beer
and efficient computations. Given the reliance on Information Technology (IT)
platforms and applications in modern day statistics compilation an important
internal stakeholder is the IT department within the Bank. It becomes critical
not only for the IT department to understand the IT requirements of
statisticians but also the implications of IT constraints on the statistics value
proposition. This presupposes a more refined bi-directional strategic
partnership between the two functions of the Bank rather than just the more
conventional one-directional relationship.
Other internal stakeholders that are separately identified for this
component are data scientists and management. Although there is an overlap
between the work of statisticians and data scientists there are also differences.
Statistics is a mathematically orientated field that focuses on the collection,
quantitative and qualitative interpretation of data and the generation of
macroeconomic statistics while data science is multidisciplinary with a focus
on scientific methods, processes, and systems to extract “knowledge” from
data in a range of forms. Given the synergies between these two fields, this is
a relatively recent but important partnership that has to be nurtured and
catered for in component 2 of the SEF. The last explicitly identified relationship
to be managed at this level is that of the executive management in the Bank.
Executive management of modern central banks have numerous areas that
require their attention. They inevitably acknowledge the importance of quality
statistics, but the statistician should not take for granted their appreciation of
the intricate requirements pertaining to the production of statistics. For
statisticians to have adequate executive management support they should
develop a dedicated stakeholder management programme. Externally, this
component of the SEF could relate to institutions such as universities with
whom strategic partnerships could be formed to develop statisticians. An
excellent example of this is the collaboration between the central bank of
Portugal and the Nova University of Lisbon which developed the Postgraduate
programme in statistical systems with specialisation in central bank statistics.
In this case the central bank and the university collaborate to provide formal
training to central bank statisticians covering theoretical as well as practical
modules in central bank statistics. This is one of the most vivid examples of
managing stakeholder partnerships. In addition, the Bank could form
methodological research partnerships with external organisations with project
based research to enhance the skillset of the Bank’s workforce without
necessarily adding overall headcount. Other external stakeholders that should
be noted here are peer reviewers that conduct assessments of the Banks
methodologies and statistics output. Lastly, note should also be taken of
international organisations with an interest in statistics, such as the IMF, OECD,
BIS, IFC, UN, etc. as well as statistics departments of other central banks.

27 | I S I W S C 2 0 1 9