Organisation Introduction
In keeping with the institutional role defined by articles of association, the organisational structure of the Central Bank is based on a three-level hierarchical model:
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Department,
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Service and
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Office.
The Departments are the main operating units responsible for tasks defined by articles of association (Supervision, Treasury, Overdue Tax Collection and Payments System) or for relevant tasks (Finance). Some Services (International Relations and Trust Register) are not aggregated into Departments.
Human Resources
The human resources currently employed in the Central Bank constitute of a mix of fixed term individuals, permanent members of staff and specialised consultants. The employment relationship of its staff is not considered as public sector employment. Employers are divided into five categories (assistants, employees, middle managers, officers, senior officers) and the employment relationship is governed by specific private contracts.
Auditing System
The internal auditing system is structured on three levels (line auditing, second level auditing and third level auditing). Second level auditing (Risk Management and Compliance) is the responsibility of two separate Services that report to the Management whereas the Internal Audit Service, responsible for third level auditing, for the type of role performed and principles of independence it must comply with, is not included under the ordinary hierarchical lines and reports directly to the Governing Council. Within the scope of the second level audit functions the organizational structure include the AML-CFT Officer with his staff.