ECCB 2014-2015 Annual Report and Statement of Accounts

EASTERN CARIBBEAN CENTRAL BANK

•  • Augment capacity building among teachers, financial institutions and the media through Train the Trainers workshops focusing on economic, financial and business issues; and •  • Continue its Public Education Programme with the schools through its primary school mentorship programme and secondary schools initiatives including the annual OECS Essay Competition.

THE BANK’S INTERNAL MANAGEMENT

R isk M anagement For the upcoming financial year, 2015/2016, the IAD will focus on: •  • Preparation of the department’s strategic plan for the five-year period 2015 to 2020; •  • The redesign of audit programmes for operational departments whose processes were revamped as a result of the implementation of stage II of the SAP-ERP system; •  • Continued assessment of the effectiveness of the policy departments in supporting the Bank’s objective to produce timely and effective policy advice to member governments; •  • Follow-up audit of the Bank Supervision Department; •  • Preparation for an external quality assessment of the department; and •  • Oversight of the implementation of the Bank’s Resolution Strategy to ensure that execution is aligned with the approved strategy and that the overall goals and objectives are achieved. S ecurity During the financial year 2015/2016 the following will be undertaken: •  • Implementation of Phase II of the SAS Statistical Enterprise Solution, which will focus on incorporating the revised commercial bank prudential returns, and expand the database I nformation T echnology and

THE BANK’S FINANCES

For the 2015/2016 financial year, the Accounting Department will continue to: •  • Place emphasis on improving operating efficiency in an effort to contain expenditure; •  • Focus on strengthening the accounting framework and controls environment, thus ensuring financial results continue to be reported fairly in accordance with International Financial Reporting Standards; and •  • Institute and ensure policies and procedures improve efficiencies in operations.

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ECCB ANNUAL REPORT 2014/2015