Strategy and Governance Department
- Protection of classified information, implementation of ethical standards, implementation of corruption prevention measures, implementation of information, cybersecurity strategies
- Cooperation with the European Central Bank (ECB), other European Union (EU) and international institutions and national central banks of other countries, policy analysis of the EU and international financial institutions
- Organisation of preparations for meetings of the ECB, other EU and international institutions, coordination of international events of the Bank of Lithuania
- Formation of legal position on matters falling within the competence of the Bank of Lithuania, representation of the Bank of Lithuania in court and other institutions
- Selection, development and improvement of human capital, payroll, careers and talent management
- Expeditious provision of relevant information to the public and the media, publication of electronic publications on finance and the economy
- Raising public awareness on the history and present of money
The objective of the Strategy and Governance Department is to strengthen the Bank’s governance by merging the operational management functions that are relevant to the Bank of Lithuania (LB) as a whole, and by strengthening their integration with each other, to seek to reduce administrative activities in other divisions of the LB. The Department will organise and coordinate the preparation of strategic plans of the LB and will seek to ensure that financial, material, intellectual and information sources are optimally managed and used in their implementation.
We develop money laundering and terrorist financing policies, organise the business risk process, and we are responsible for ensuring business continuity. We also ensure the implementation of information and cybersecurity strategies. In order to gain the trust of the public and employees of the LB, we ensure the creation and implementation of an anti-corruption environment.
We develop international relations of the LB and ensure proper participation in the decision-making processes of the EU and international financial institutions. We also carry out policy analysis of the EU and international financial institutions, as well as assess the international economic environment and economic developments in countries relevant to Lithuania. Seeking duly representation of Lithuania’s interests in the IMF, the Republic of Lithuania became part of the Nordic-Baltic Constituency. In preparing and coordinating the Constituency’s positions as well as positions on relevant EU issues, the LB is represented by the International Relations Division.
We make sure that the Board of the Bank of Lithuania is well prepared for international events and meetings.
Moreover, we prepare and assess draft legal acts. Our activities ensure that legal acts comply with legislative norms and the requirements of the EU and Republic of Lithuania legal acts. Our lawyers are in charge of drawing up and assessing draft agreements to be signed by the LB as well as LB responses to letters from legal and natural persons. We aim 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 LB. In addition, we draft procedural documents and act on behalf of the LB in court, pre-trail dispute-settling bodies and other institutions.
We aim to ensure that our organisation recruits highly qualified, competent and motivated specialists, able to take informed decisions and efficiently achieve its objectives in a constantly changing environment. For this reason, we constantly improve systems for personnel selection, training and development, payroll and motivation, career and talent management, as well as other systems.
We are responsible for raising awareness of the general public, financial market participants, the academia and Lithuanian and foreign media on the role and functions of the LB, the national central bank. One of our key communication outlets is the Bank of Lithuania website (www.lb.lt), which provides latest and relevant information in both Lithuanian and English. We post latest news on our social media platforms, present them through media outlets, by sending our press releases to journalists and organising press conferences. Live events organised by the LB can be broadcasted online. Experts at our organisation publish their insights on economic development and latest projections on the Internet, in the media, broadcast on the radio and TV, as well as participate in public discussions. We organise various seminars for residents and give presentations on how to manage personal finances. We reply to enquiries received from the general public by email or phone.
The Money Museum, located in the heart of Vilnius, introduces visitors to the history of Lithuanian and world money, and presents the single European currency – the euro. At different locations in the country, we present to the public new collector and commemorative coins issued by the LB. Every few years we organise open-day events at the LB, garnering great public interest, during which we speak about the activities of the central bank, hold quizzes about money and showcase armoured vehicles for cash transportation.
The Department is comprised of seven divisions: autonomous Compliance and Risk Management Division, International Relations Division, Secretariat, Legal Division, Human Capital Division, Communications Division, Money Museum.