Management of the Bank

Ministry of Finance of the Republic of Latvia is the only shareholder of the Bank.

State Secretary of Ministry of Finance represents shareholder and: a) holds General Meetings of Shareholders, b) elects Supervisory Board of the Bank

Supervisory Board of the Bank consists of 5 members – representatives of different ministries.

Daily business management of Bank is carried out by the Board of Directors elected for 3 years by Supervisory Board.

To share part of daily business management duties Board has set up Operational Management Comity.

To manage the financial and operational risks, there are 3 committees in the Bank that meet on a regular basis:

• Risk management committee - responsible for overall risk management in the Bank;
• Credit committee – responsible for the management of credit risk of the Bank;
• Assets and liabilities management committee – responsible for liquidity, interest rate, currency and market (position, settlement, counterparty) risk management.

The Board has also set up several specific professional committees related to the development of information systems, contingency planning, etc. Committees have their own statutes and meet on a regular basis.