Our Groups And Functions
The Bank has eight Groups:-
Governor’s Office and Board, Economics, Financial Markets, Financial Institutions, Currency & Corporate Services, Financial System Development and Risk Management & Communications and Financial Intelligence Unit.
The key roles of each Group are:-
Governor’s Office and Board
The core functions of the Governor’s Office and Board Group are to provide strategic leadership and management, deliver statutory and functional responsibilities and enhance national and international working relationship, liaison and Board Secretariat Services.
The Economics Group conducts economic analysis and provides policy advice on the formulation of monetary policy. The Group’s core functions also include the preparation and analysis of monetary and economic forecasts and the production and issue of economic publications.
Financial Markets Group
The Financial Markets Group has primary responsibility for monetary policy implementation, registry and banking services, foreign reserves management and exchange control. The Group ensures that the country’s foreign reserves are managed within the parameters of safety, liquidity and profitability.
Financial Institutions Group
The Financial Institutions Group’s major functions are to supervise the financial system by licensing, formulating and implementing prudential policy guidelines for financial institutions. The Group’s other functions include the development and strengthening of institutional infrastructure to prevent money-laundering activities.
Financial System Development Group
The Financial System Development Group is responsible for financial sector development and monitoring in the areas of financial inclusion, financial institutions complaints, market conduct, remittances, microfinance, SME development, financial literacy and capital markets.
Currency & Corporate Services Group
The Currency and Corporate Services Group is primarily responsible for ensuring the issue of an adequate supply of quality currency. The Group is also responsible for all the Bank’s internal services, including: accounts and financial reporting; human resources; information technology; plant and properties; security; records management; corporate projects; library and general administration.
Risk Management & Communications Group
The Risk Management and Communications Group is responsible for Corporate Communications, Domestic and International Liaison, External and Internal Audit, Corporate Coordination and Compliance, Strategic/Annual Plan, Middle Office, Legal, Business Continuity Management and Risk Management.
Financial Intelligence Unit
The Financial Intelligence Unit’s major functions are to prevent and detect money laundering and terrorist financing activities as well as specify a range of measures that financial institutions in Fiji must implement to prevent the use of Fiji’s financial system from money laundering activities and other serious offences.