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The new collective agreement (available in French) for 2018-2020 was officially signed on 12 July 2018 by ABBL, ALEBA, LCGB-SESF and OGB-L. The ABBL`s collective agreement aims to regulate the general working conditions between the member banks of the association and their employees. On 12 July 2018, the Luxembourg Bankers Association (ABBL) signed the new collective agreement (CBA) for bank employees 2018-2020 with the Luxembourg Banking Federation and trade union representatives in the financial sector. This agreement defines the working conditions of employees who occupy positions within their competence. The new CBA contains a number of important changes, but we will focus in this article on the aspect of job classification, as this requires considerable effort in terms of time and effort and can be extremely problematic in the event of a bad trigger. While it may be tempting or seemingly easier to base a job description and its skill requirements on its current incumbent, it is important that this ranking separates the role from the individual and only assesses what the job needs, not what the current incumbent can do. If the two are not separated, this can result in inconsistencies in terms of level of responsibility and potential compensation structure, vertically along the hierarchy and horizontally beyond functions. The training budget will increase to 1.5% from 2019. The new CBA gives all employees the right to a personal development plan and access to training. From 2020, staff roles will be divided into four groups (A to D). According to ABBL, each bank will rank its own roles.