Profile of the desired candidate

Business Degree, preferably Master’s or equivalent.

Business Experience

Twenty plus years in general banking, a significant part of it in General Management at a country and/or business level including retail banking. Overseas exposure with an International Bank is desirable.

Requirements:

• leadership skills necessary to set and implement a vision for the business, build/recruit a “team” to deliver on the objectives set out above;

• demonstratable entrepreneurial skills to build a retail business and good analytical skills to assess the impact on the market place;

• ability to recommend alternative investment options, ensuring appropriate trade offs;

• ability to develop a working plan with senior managers and the Board and execute it with a sense of urgency to deliver on these commitments;

• people management skills to motivate the team to achieve desired business results and ability to work effectively with all levels of Management / Board.

Behavioral qualities:

• a decisive, customer driven and results oriented achiever;

• a team leader to “build” people, empower them to achieve desired results and reward performance;

• a respected individual with credibility to set high standards and values and serve as a role model i.e. an individual of high integrity, financial as well as intellectual.

• 2) Read the text carefully and answer the questions:

a) What kind of bank is it as to its asset, its niche in the market, the customers, and the plans for development?

b) Among the enumerated requirements for the candidate, what do you consider to be the most important for this kind of bank?

c) How will you rank the behavioral qualities required for the candidate?

6.25 The public sector in finland

• 1) What spheres of activity refer to public sector (the industries and services that are supported by tax money and controlled by the government): religion, civil service, gardening, education and research, health services, military service?

• 2) What spheres of taxation in Finland would you like to compare with those in the Russian Federation?

The growth in overall production and services is due to the extension of publicly-financed activities. The civil service, defense, education and research, hospital and health services, and social security are an integral part of the Finnish society. There are considerably more people working in the services than in industry.

Public services are maintained out of taxation by either the state or the local municipalities. The state aids municipalities in proportion to their incomes.

The most important direct tax is that levied by local authorities on all residents, the rate being under 20% of their incomes. State income tax is progressive, and at most the rate is slightly under 40% of taxable income. The rates for the state income and property taxes, as well as the local tax, are determined annually.

The main indirect tax is the turnover or sales tax, the rate of which, with certain exceptions, is about 18% of the retail price. Excise taxes are imposed on fuels, tobacco and alcoholic beverages. The motor vehicle tax is one of the highest in the world. Stamp duty is another important source of income for the state. The importance of customs duties has radically declined.

The state’s share of direct taxation is about 60%, the local authorities 25%, and the remaining 14% consists largely of social security contributions.

The trend in tax policy has been towards indirect taxation. Different forms of income transfers and benefits to individuals and companies alike play an important part in the public economy. In addition to public housing programs, various interest-subsidized loans account for a major part of both central and local government.