The mission of this project was to apply employee development based on competencies in the United Bulgarian Bank, which is a subsidiary of NBG. The project focused on a set of job positions where competencies that will enable improvement of employee capabilities, improvement of efficiency, and increase of revenues were identified, formulated and proposed. The research is based on questions that were asked to representatives of job positions, to the HR manager and members of top management. By using the theoretical background in competency management and by interpreting the answers to the questions, the team was able to determine the competencies needed. They were divided into Behavioural and Technical competencies, with many subcategories in each main category. The final part of the project involved recommendations and suggestions for future action. The HR department will use competency-based management to promote efficiency in a wide variety of activities.