ECCB Departments

The AD is responsible for managing the financial affairs of the Bank by managing the Bank’s budget and preparing financial statements as required by the ECCB Agreement and additional reports for management  decision-making purposes.

The BMOD’s primary objective is to maintain the value of the Bank’s reserves and by extension, the stability of the EC currency. Another key aspect of the BMOD’s role is the provision of banking services to commercial banks and supervision of the ECCU clearinghouse to ensure the timely settlement of all payment clearings on a daily basis.

The FSSD is instrumental in (i) promoting systems and mechanisms to ensure soundness solvency, safety and reliability of ECCU commercial banks licenced under the Banking Act (ii) maintaining the public’s confidence in the financial system of the ECCU and (iii) enhancing the regulatory and supervisory capacity as it pertains to banks operating within the ECCU.

The overall objective of the CRD is to assist the Bank with achieving  its mission by protecting and enhancing the Bank’s corporate image, maintaining the integrity of the Bank’s administration and improving the level of financial, economic and entrepreneurial education in the Eastern Caribbean Currency Union (ECCU). In keeping with this objective, the department’s primary functions are (i) meetings and events management and (ii) coordination of the Bank’s Public Education Programme (iii) Effective Communication

The integral role of the CMD is the adequate supply of quality  EC currency throughout the ECCU. This is highlighted in the department’s objectives to protect the integrity of the EC dollar; effectively and efficiently repatriate foreign currency notes purchased from commercial banks and facilitate public awareness activities highlighting the security features of EC banknotes with a view to eliminating the circulation of counterfeit EC notes.

The GIO provides direct support to the Governor in the pursuit of the mission of the Bank. As such the GIO’s main objective is to provide appropriate, well-articulated policy and programme prescriptions on issues related to monetary and financial sector stability, fiscal and debt sustainability, and growth which could be implemented by the Bank and by member countries. In fulfilling this objective the GIO performs the following key functions:

• Research, analysis and assessment of policy issues and options in the main policy areas;
• Provision of advice on policy matters and support to the Governor in the Bank’s interface with regional and international agencies on these policy issues; and
• Provision of oversight and interventions to ensure that the output of the Bank is of the required standard.

The core functions of the HRD include: staffing through recruitment, selection and placement of staff, benefits administration, performance management and development, HR policy development and compliance.

The IAD is an independent appraisal function established within the ECCB to examine and evaluate the Bank’s activities. To achieve this, the IAD performs a number of audits, reviews and investigations and presents reports based on these activities.

The LSD provides general legal advice to the Bank, in particular its constituent departments.  In addition, it prepares and vets agreements to protect the interests of the Bank and draft legislation, rules and guidelines to govern the operation and regulation of financial institutions operating within the ECCB eight member countries.

The MISD facilitates the capture, storage, analysis and dissemination of information and continuously strives to increase the efficiency of operational activities thus providing critical time for the greater application of intellectual resources. Some of he department’s objectives include  evaluation of information technology projects and maintenance of the security of the information system architecture.

The Office of Corporate Strategy and Risk Management (OCSRM) has responsibility for the implementation of the Bank’s Enterprise Risk Management (ERM) program and oversight for the Bank’s Business Continuity Management System (BCMS) and Business Continuity Plan.  The OCSRM is also charged with responsibility for the development of the Bank’s strategic plan in collaboration with all departments across the Bank and the monitoring of and reporting on the implementation of the strategic plan.

The RSDAD is the centrepiece of the Bank’s policy analysis, forecasting and advisory framework. This is highlighted in the department’s four key functions: research, economic surveillance, policy advice and information preservation and public dissemination.

The department supports the ECCB countries in the development and management of statistics and aims to provide timely, accurate and readily accessible information. It also collaborates with the statistical offices in the eight member countries in the collection and dissemination of economic data and the compilation of the macroeconomic accounts.

The SSMD is the centralised point for the support services of the Bank. Its key areas are security, general services such as registry services and assets inventory and facilities engineering which involves maintenance, events management and project management.