Organisation

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: Department, Service and Office. The Departments are the main operating units responsable 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.

The organizational chart provides a representation of the current organizational structure.

Human Resources

Currently, there are 80 resources employed by the Central Bank.Additionally, there are 13 resources formally employed in CBSM but assigned to the FIA Financial Intelligence Agency. The Delegated Decree no. 146 of 28 November 2008, in fact, requires that the staff of the FIA be hired according to the applicable procedures of the contracts in force at the Central Bank.

Even though the State is the majority shareholder of the Central Bank, 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 withhis staff.