Divisions

• Forms legal position on issues within the competence of the Bank of Lithuania
• Prepares and assesses draft legal acts, agreements and Bank of Lithuania letters
• Provides legal aid to Bank of Lithuania employees
• Represents the Bank of Lithuania in court and other institutions

Gintaras Kukauskas, Head of the Legal Division

The Legal Division is a team of professional lawyers with considerable experience both in the public and private sectors. Our lawyers form legal positions on issues within the competence of the Bank of Lithuania and contribute to the implementation of Bank of Lithuania strategic objectives.

The Division prepares and assesses draft legal acts. We ensure that legal acts are in compliance with legislative norms and the requirements of EU and Republic of Lithuania legal acts. Our lawyers are also in charge of drawing up and assessing draft agreements to be signed by the Bank of Lithuania as well as Bank of Lithuania responses to letters from legal and natural persons. The Legal Division aims to ensure that these documents are legally irreproachable and in line with regulatory requirements in order to remove any inconsistencies or other factors that could pose legal risk to the Bank of Lithuania.

We seek to provide timely and professional assistance to our colleagues from other Bank of Lithuania units, devoting considerable attention to their consultations. Our lawyers advise the Board of the Bank of Lithuania and other employees on everyday matters and complex professional issues.

Employees at the Legal Division are assigned to draft procedural documents and act on behalf of the Bank of Lithuania in court, pre-trail dispute-settling bodies and other institutions.

• Sources and selects staff at the Bank of Lithuania
• Administrates the work schedule and supervises its management
• Plans and manages payroll, benefits and other compensations
• Organises employee training in Lithuania and abroad

Renata Radavičienė, Acting Head of the Personnel Division

We aim to ensure that our organisation recruits highly-qualified, -competent and -motivated specialists, able to take informed decisions and efficiently achieve objectives in a constantly changing environment. To reach our set goals, we introduce and develop systems for personnel selection, training and development, payroll and motivation, career and talent management, etc.

Our major functions include sourcing and selection of staff, employee transfers and dismissals. Under an agreement between the employer and the labour council, we firstly take up internal recruitment procedures, sourcing employees within the organisation. It is often a direct way of moving up the internal career ladder. We usually resort to external recruitment strategies when internal ones are unsuccessful.

Payroll is an important issue among employees. Our Division analyses market developments in salaries and submits proposals to the Board of the Bank of Lithuania concerning changes in the payroll policy. We are authorised to study wage disparities in different units and among different or equal positions; having analysed them, we propose to the Bank management measures that could ensure internal equity. Our competence also extends over proposals for motivational tools.

We organise and coordinate annual employee performance assessments within units, analyse their results, spot top employees and bring forward proposals to their superiors for further motivation and career management. Assessment results are key in determining talent and management alternate groups.

Much attention at our organisation is devoted to employee training so that they could constantly broaden their professional knowledge, uptake innovations, and adopt good practices from the market and other central banks. Together with other units, we organise employee trainings in both Lithuania and abroad.

As an organisation, the Bank of Lithuania is notable for its staff – people with unique competences. As lecturers in higher education schools, they share their knowledge with students and interns who are always welcome at our Bank.

• Performs independent checks and assessments of the effectiveness and efficiency of Bank of Lithuania governance, risk management and control processes
• Consults the Board of the Bank of Lithuania and structural units
• Monitors implementation of audit recommendations
• Participates in audits carried out on ESCB/Eurosystem level

Jordana Gomarienė, Head of the Internal Audit Division

We implement the Bank of Lithuania internal audit policy, thus contributing to achievement of our organisation’s objectives, as well as efficient and effective operations. Internal audit is a management tool for assessing adequacy and suitability of risk management and supervision, and supporting their further development.

Internal audit is carried out in accordance with the International Standards for the Professional Practice of Internal Auditing of the Institute of Internal Auditors (USA) and is based on principles of objectivity, independence, proficiency, confidentiality and honesty.

We are authorised to perform independent analysis and assessments of governance, risk management and control processes. Internal audit is independent from the activities assessed and does not substitute control and risk management carried out by managers of all levels.

Auditors always take into account issues related to optimal institutional structure, assignment of duties and functions, effective usage of funds and assets, quality of public services and approach towards Bank of Lithuania customers. We also focus on IT security and its efficient use, duly compliance with ethical standards and institutional values.

Audits are carried out pursuant to our Division’s annual action plan, approved by the Chair of the Board of the Bank of Lithuania. Audits planned by the Internal Auditors Committee (46.4 KB ) of the European System of Central Banks (ESCB), carried out on ESCB level, are also included in the plan. Representatives of our Division take part in ESCB internal auditor exchange programmes: they visit other central banks or welcome their auditors at our organisation.

We inform our immediate superior – the Chair of the Board of the Bank of Lithuania and the Board – of audit results, major risks identified, compliance with audit recommendations and implementation of the Bank of Lithuania internal audit policy.

In addition to auditing, we provide consultations by request of the Board and units of the Bank of Lithuania – we assess projects under implementation, compliance of operations with legal acts, process efficiency and potential risks.

In cooperating with internal auditors from other Lithuanian organisations and central banks, we share good practices in internal auditing.

We aim to be seen as experts in our field, contributing to positive changes that add to the good of both the organisation and the public.

• Prepares the annual plan of public procurements of the Bank of Lithuania
• Carries out public procurement procedures
• Prepares drafts of internal legal acts regulating public procurements
• Consults structural units of the Bank of Lithuania on issues related to public procurement

Edita Kazakevičienė, Acting Head of the Public Procurement Division

The mission of the Public Procurement Division is to organise and implement the process of public procurement at the Bank of Lithuania in such a way that would ensure transparent and timely purchase of quality goods, services and works and rational use of funds allocated for such purposes.
We track the changes of provisions of the Republic of Lithuania Law on Public Procurement, the Republic of Lithuania Law on Public Procurement in the Fields of Defence and Security, and other legal acts regulating the process of public procurement as well as analyse the requirements of these legal acts and initiate the required amendments to internal legal acts.
We strive to perform our activities in an effective and transparent manner, therefore, we analyse the results of procurements already carried out and search for opportunities to improve both the organisation of the public procurement process and performance of specific procurements.

Our team of competent public procurement experts has gained experience through carrying out different types of procurements and is ready to purchase quality goods, services or works in a transparent manner and consult colleagues from other units initiating procurements.

The Public Procurement Division represents the Bank of Lithuania in the Eurosystem Procurement Coordination Office, whose member is the Bank of Lithuania, and conducts certain procurements in cooperation with other Eurosystem central banks.