Under the leadership of the National Bank of Ukraine and with support from the European Bank for Reconstruction and Development, the international consultancy Korn Ferry has developed a Guidance Note to Support Ukrainian Financial Institutions in Becoming More Inclusive, Safer, and More Accessible Employers (hereinafter referred to as the "Guidance Note"), which outlines recommendations for financial institutions that hire Ukrainian war veterans.
On 5 February 2025, NBU Governor Andriy Pyshnyy met with an EBRD team led by EBRD President Odile Renaud-Basso and EBRD Managing Director for Financial Institutions Francis Malige. They officially presented the Guidance Note, which will help enhance Ukrainian financial institutions’ inclusiveness as employers and improve their safety and accessibility for veterans and other groups affected by the war. The Guidance Note includes a practical implementation toolkit.
With the EBRD’s assistance, the document was developed by Korn Ferry, a consulting firm with a global outreach whose experts had worked for eight months to draw up the methodological and practical materials on the implementation of inclusive HR practices by financial institutions and the support and resocialization of those who have fought for Ukraine. The Guidance Note was drafted in line with the Charter on Financial Inclusion and Reintegration of Veterans (hereinafter referred to as the “Charter”).
As previously reported, at a 9 April 2024 conference on veterans’ reintegration, Andriy Pyshnyy and Francis Malige signed a Memorandum of Understanding between the NBU and the EBRD that provides for cooperation between the two institutions to promote the Charter. The EBRD’s work is supported by the Action for Equality and Gender Fund (Japan, Taipei China, Lithuania, Finland and the US). It is noteworthy that ensuring a barrier-free and inclusive financial sector is one of the goals outlined in the NBU Strategy.
The Guidance Note has a comprehensive structure aimed at increasing the level of financial institutions’ inclusiveness and accessibility, as well as promoting the economic integration of demobilized military personnel. By following the Guidance Note, financial institutions will make themselves more accessible to hundreds of thousands of veterans, both employees and customers. The document highlights the critical need to implement veteran-friendly policies – such as flexible working hours and conditions, mental health support, and tailored onboarding processes – that are essential to the successful reintegration of veterans into the civilian workforce.
"We consider it our duty to do everything in our power to advance the comprehensive development of financial inclusion, in particular with regard to the reintegration and adaptation of war veterans. This is an important part of the NBU’s mission, and we are leading the way in this process. After all, we are fully aware that the successful reintegration of veterans is both a social responsibility of the financial sector and a prerequisite for doing business. Our heartfelt gratitude goes out to the EBRD for understanding and supporting our goal! We call on all financial institutions to take proactive steps to implement the Guidance Note. We have to introduce the principles of equality and barrier-free accessibility into the financial system step by step, without a single day’s pause," said Governor Pyshnyy.
"Preserving human capital is a strategic goal for the EBRD in Ukraine, and we will continue working hand in hand with the NBU and our partner financial institutions in the country to incorporate these guidelines and improve financial services for veterans and war-affected persons. We are ready to assist the NBU with monitoring and reporting on the implementation progress of the announced guidelines," said Francis Malige, Managing Director, Financial Institutions, EBRD.
And last but not least, the Guidance Note is aligned with Ukrainian legislation, including the Law On the Status of War Veterans and Guarantees of Their Social Security, the Labor Code of Ukraine, and other laws and regulations governing the rights and social protection of veterans.
The document is available here: Guidance Note to Support Ukrainian Financial Institutions in Becoming More Inclusive, Safer, and More Accessible Employers