The Inter-American Development Bank (IDB) has two vice-presidents. The Executive Vice-President is responsible for overseeing all departments involved in operations. Dennis Flannery has held this post since July 2002.
The work of the IDB is divided between operations, and planning & support services. Dennis' role is to oversee the operations part of this work, including responsibility for all departments that work on IDB projects and programs. A key element of his work at the moment is promoting a cross-sector anti-corruption strategy. "Fraud and corruption are a challenge faced by every government in every region of the world. They affect both the public and the private sector; distorting economic realties and creating perverse incentives that impact all levels of society", Dennis asserted. Accountability and transparency are of great importance for the IDB to ensure that its work is effective and efficient, and to develop good governance within borrowing countries. Dennis explained, "The Bank is planning to create a new Office of Institutional Integrity, housing secretariats for each of the units of the Bank charged with conducting investigations of fraud, corruption or other forms of misconduct".
Improving the business climate in which the private operates is also a key theme for the IDB, and the promotion of competitiveness is an important aspect of this. "Specific actions will be identified in the diagnostic to overcome obstacles that prevent the fluid development of business". Dennis said, "Perhaps the greatest contribution the Bank can make is in brokering partnerships between the public and private sectors, by working with governments and addressing the problems of the sector in an integrated way".
A graduate of the School of Foreign Service at Georgetown University, Dennis served in the US army from 1967 - 70. He founded and worked as managing director of Stonehill Associates, a financial advisory firm. He also worked for ten years as a financial advisor for the World Bank, and for three years as financial advisor to the Government of Indonesia, to support restructuring of the country's corporate debt.
In the future, Dennis will be responsible for the IDB’s drive to reduce the technological divide in Latin America. "As part of its ongoing efforts to support development in the Americas, the IDB tries to incorporate new technologies and experiences into its work, and stay at the cutting edge of technological development. Social Capital can significantly help enrich the design of development projects".