Strategy and Governance Department

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 Lietuvos bankas (LB) as a whole, and by improving their integration with each other, to seek to reduce administrative activities in other LB units. The Department organises and coordinates the preparation of strategic plans of LB and seeks to ensure optimal management and use of financial, material, intellectual and information sources 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 LB staff, we ensure the creation and implementation of an anti-corruption environment.

We develop international relations of 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 proper 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, LB is represented by the International Relations Division. We make sure that the Board of Lietuvos bankas 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 LB as well as LB replies 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 Lietuvos bankas. We draft procedural documents and act on behalf of Lietuvos bankas in court, pre-trail dispute-settling bodies and other institutions.

We aim to ensure that our organisation recruits highly qualified, competent and motivated specialists who are able to take informed decisions and efficiently achieve the central bank’s objectives in a 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 Lietuvos bankas, the national central bank. One of our key communication outlets is the Lietuvos bankas’ website (www.lb.lt), which provides relevant information in both Lithuanian and English. We post the 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 LB can be broadcast online. Experts at our organisation publish their insights on economic development and latest projections in online portals and 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 managing 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. We present to the public new collector and commemorative coins issued by LB at different locations across the country. Every few years we organise open-day events at 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.

We organise and implement service and customer experience management processes. We strive to ensure that customer service meets the highest quality standards and matches customer expectations. We constantly organise and analyse customer satisfaction, customer service quality analyses and surveys, the results of which allow us to identify areas for improvement. Based on the collected data, we initiate and implement process improvement measures to provide even more efficient, convenient and high-quality services to our customers. We actively cooperate with other units to ensure consistent and systematic improvement of customer service quality throughout the organisation. Our goal is to create a unique customer experience and build trust in our services.

The Department is comprised of eight divisions: Compliance and Risk Management Division, Information and Cybersecurity Management Division, International Relations Division, Legal Division, People and Culture Division, Communications Division, Project Management Division, Money Museum