Working at the Banco de España: a unique way to help build Europe

Values can seem like an abstract concept, until we ask ourselves what guides our decisions when there are no clear-cut instructions or written rules to follow. Values are the unwritten rules that shape how we approach life and work, collaborate with others and hold ourselves accountable. 15 October is a day to reflect on our values and how they guide our way forward.

To mark World Values Day, we would like to share an important milestone for those of us who work at the Banco de España: the signing of the Shared Values Charter of the European System of Central Banks and the Single Supervisory Mechanism, known as the ESCB & SSM Shared Values Charter. The Charter unites 35 European central banks and supervisory authorities, among them the Banco de España, around four shared values. These values guide how we work, fostering a positive impact on society and closer cooperation across European institutions.

So, what are the shared values at the heart of this Charter? How are they reflected in the Banco de España’s culture? And how do they shape the working environment and careers of those of us who work here?

Values that unite us across Europe: the Shared Values Charter

By signing the Charter, the European central banks and supervisory authorities (those shown in Figure 1) publicly commit to a set of values that express what unites us as a community. These values complement the local values of each institution and provide a common vision for how we work and who we are.

The Charter structures this shared framework around four values: Engagement, Care, Trust and Growth mindset (Figure 2).

Figure 2
SHARED VALUES

Source: ESCB & SSM Culture and Employer Branding Task Force

So, what do these values actually mean? And how do we want them to be reflected in the way we work at the Banco de España or any of the other institutions?

• Engagement means feeling connected to both the institution and the work we do, because that work has a clear purpose. Working with us means being part of initiatives that have a real impact on the economy, society and people’s lives, both in Spain and across Europe.
• Care means putting people at the heart of the European project. We foster working environments based on respect, active listening and a diversity of views, recognising that the best solutions emerge when everyone has the opportunity to contribute and develop professionally.
• Trust is a cornerstone of both an institution’s credibility and the day-to-day experience of its staff. Transparency, integrity and accountability need to be part of our everyday work, helping to maintain a strong, trusted and respected working environment.
• A growth mindset means embracing opportunities to improve. We are committed to continuous learning, innovation and improvement, enabling us to rise to the challenges posed by an ever-changing economic and financial environment.

Our commitment to these values reflects a shared European culture that shapes how we work, while reinforcing the independence of our institutions and our collective credibility in economic affairs across Europe. To quote the President of the ECB, Christine Lagarde, “If we act together, our strengths can be multiplied”.

“If we act together, our strengths can be multiplied”. Christine Lagarde

The Banco de España: where our European and institutional values converge

European values complement and reinforce those that lie at the heart of the Banco de España: independence, accountability, public service, integrity and excellence. They define our institutional culture and help build trust in the institution:

• independence ensures that our technical work is guided by professional judgement;
• accountability calls for transparency, clarity and accessibility;
• being a public service means that we seek to have social impact and serve the common good;
• integrity is the foundation of our credibility;
• excellence demands quality and rigour, for effectiveness and efficiency.

Europe complements who we are (Figure 3). Our shared values and those that define our institutional culture reinforce one another: trust strengthens integrity and accountability; engagement brings public service to life; and care and a growth mindset drive excellence. At the service of society.

Figure 3 (interactive)
WHERE EUROPEAN VALUES AND THE BANCO DE ESPAÑA’S STRATEGIC VALUES CONVERGE

Source: Devised by authors

How our values shape the way we work

Values are more than a statement of principles. They become meaningful when they are reflected in the work we do each day.

They shape the capabilities we seek to develop and encourage in the people who work at the institution, such as collaboration, a service-oriented approach, analytical rigour and a desire to keep learning and improving. But, above all, they show up in our daily conduct: how we work with others, make decisions, hold ourselves accountable and respond to new challenges. It is the sum of these actions and decisions that ultimately defines our culture and how we fulfil the mission we share with the other institutions that have signed the Charter: to contribute to economic and financial stability and to serve European citizens.

Values are more than a statement of principles. They become meaningful when they are reflected in the capabilities we encourage in people and in our daily conduct, defining the way we work

So, why is the Banco de España a unique place to work?

The institution's credibility and standing are among its greatest strengths as a leading employer, as is its connection with Europe.

Few organisations combine such a strong institutional identity with a far-reaching, widely recognised European dimension

Alongside our institutional strength, our identity is shaped by a commitment to people: those joining the Banco de España often remark how stimulating it is to work alongside and learn from leading professionals, in an environment that offers the opportunity to contribute, through their daily work, to issues that make a difference to the world around us.

What do we offer? More than a job – a long-term career and a wealth of opportunities:

• Career development: opportunities to continue learning, take on new responsibilities and develop professionally
• International opportunities: the possibility of working with European institutions and international organisations, take part in working groups and gain professional experience outside Spain
• Compensation and benefits: competitive pay and a range of employee benefits
• Work-life balance: flexible arrangements tailored to different stages in life
• Culture and well-being: an inclusive environment built on collaboration and care
• Workplace: facilities and tools designed to foster collaboration, continuous learning and optimal working conditions

Few organisations match the Banco de España in combining such a strong institutional identity with a far-reaching, widely recognised European dimension. It is also a place where people can pursue a rich and varied career, with opportunities to take on new challenges, broaden their professional experience and contribute to a mission that has a real impact on the economy and society.

Ana Ramos Riera

• Strategy and People