Management

The Accounts and Budget Department ensures the integrity of the Bank’s financial information by preparing and presenting the Bank’s financial statements in accordance with the International Financial Reporting Standards, Central Bank of Belize Act, and other relevant legislation.

In addition, the Department performs these core functions:

• Prepares the Bank's budget while monitoring and controlling financial activities
• Advises stakeholders of the Bank's financial health
• Manages and maintains the Bank's accounting records
• Performs procurement and payment agent functions on behalf of the Bank

The Administration Department provides Administrative and Corporate Services, Facilities and Records Management to support the work of the staff, management, and Board of Directors of the Bank. The Administration Department provides a safe and comfortable environment that supports services at a high standard to enable departments and units to achieve their goals and objectives.

The Banking, Currency, and Investment Department aims to protect the integrity of the nation’s payment system by ensuring it is safe, efficient, and reliable to facilitate the delivery of superior banking and financial services and to maintain public confidence.

The Banking, Currency, and Investment Department provides banking and financial services to the Government of Belize, domestic and foreign financial institutions, statutory bodies, and members of the public.

The Banking, Currency, and Investment Department performs these core functions:

• Manages and issues notes and coins
• Operates the national Automated Payment and Securities Settlement System (APSSS)
• Provides banking services to the Central Government, financial institutions, and other public sector entities.
• Facilitates the trading of Government’s securities.
• Manages the Bank’s foreign reserves.

The Human Resources Department promotes efficiency, productivity and employee development and satisfaction within the Bank by fostering a performance culture and positive work environment that contributes to employer-employee satisfaction.

The Department supports employees in achieving professional and personal growth by performing the following core functions:

• Compensation & Benefits Administration
• Employee & Organizational Development
• Talent Acquisition & Planning
• Employee Services
• Policy Administration
• HR Planning
• Labour Relations
  
• Employee Health & Safety

The Information Technology Department is responsible for the governance of the Bank’s information systems and the strategic use of information, communication and network technology.

• Introduces and maintains computerized information systems to process data efficiently to produce useful and timely information 
• Provides the appropriate hardware, software, networking and communications infrastructure for automation
• Provides the highest level of data security, confidentiality and integrity
• Ensures a safe and reliable computing environment
• Provides a high degree of availability and recovery of its systems

The Internal Audit Department provides independent, objective assurance and consulting services designed to add value and to improve the Bank's operations.

The Internal Audit Department enhances and protects organizational value by providing risk-based and objective assurance, advice and insight. The Department assists the Bank in accomplishing its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control and the governance processes. In delivering its mandate, Internal Audit reports functionally to the Board through the Audit Committee.

The Internal Audit Department performs these core functions:

• Provides focused reviews, evaluations and audits of processes, procedures and activities
• Verifies compliance with legal requirements, Bank and Governance policies, applicable accounting and computer control standards, risk management standards and Anti-Money Laundering/Counter Financing of Terrorism Standards
• Prepares reports on the Bank's activities for submission to Management and Audit Committee

The Research Department acts as the intelligence arm of the Central Bank of Belize to provide the Bank and leaders of Government with timely and well organized information.

• Monitors economic trends in Belize on money and credit, the real sector, government operations and debt, and external transactions
• Compiles, processes and disseminates monetary, financial and other economic statistics
• Produces monthly, quarterly, annual and other ad hoc economic reports
• Conducts focused research on the Belizean economy and issues pertaining to its development and stability
• Provides economic and financial information to the public
• Processes and monitors foreign exchange transactions of the financial system in accordance with the exchange control regulations
• Improves and expands the Bank’s library collection

The Security Department protects the Bank’s staff, property and members of the public who come to do business at the Bank.  

The main responsibilities of the Security Department are to analyze potential threats to the Bank’s security and devise strategies for avoiding or mitigating all such risks.

The Security Department performs these core functions:

• Protects the Bank’s staff, property and members of the public
• Communicates with private and national security forces
• Gathers security intelligence
• Investigates security-related incidents

The Office of Strategy Management coordinates, supports, and oversees the effective communication and execution of the Central Bank’s approved strategy.

The Office of Strategy Management employs best practices and methodologies related to communication, content, project, strategy, and enterprise risk management. It leverages knowledge bases and guides in the delivery of strategic objectives.

The Office of Strategy Management performs these core functions:

• Promotes the Bank's brand
• Administrates organizational change management
• Oversees the planning, development, and management of content
• Coordinates and manages enterprise risk activities across the Bank
  
• Manages the release and spread of information between the Bank and its stakeholders
• Employs and guides on a disciplined approach to execute, monitor, and control a project from conception through completion
• Functions as the technical secretariat for the National Financial Inclusion Programme
• Coordinates and oversees strategy execution

The Supervision Department maintains public confidence through effective supervisory and regulatory mechanism of banks, credit unions and financial institutions. The department ensures all financial institutions operating in Belize are licensed under the Domestic Banks and Financial Institutions Act (DBFIA), the International Banking Act (IBA), the Credit Unions Act (CUA), the Moneylenders Act (MA) and the National Payment System Act (NPSA).

The Financial Sector Supervision Department performs these core functions:

• Processes license applications for financial institutions, credit unions, moneylenders and financial service providers
• Examines, supervises and regulates domestic and international banks as well as financial institutions and credit unions
• Ensures a safe and sound financial system, thereby attracting investments and facilitating an expansion of the financial system
• Oversees the National Payment and Securities Settlement System