Governance and organisation
Chapter 7 of the BIS's Annual Report 2020/21
BIS member central banks and General Meetings
Sixty-three central banks and monetary authorities are currently members of the BIS, each having rights of voting and representation at General Meetings.
Board of Directors
The Board determines the Bank's strategic and policy direction, supervises BIS Management and fulfils specific tasks as set out in the Bank's Statutes.
BIS Management
The management of the Bank is directed by the General Manager, who is responsible to the Board of Directors for the conduct of the Bank. The General Manager is assisted by the Deputy General Manager and advised by the Executive Committee.
Organisation
The BIS has four main departments. They encompass economic research, banking activities, support to central bank collaboration on technological developments impacting the financial system, and general internal support.
Control functions
To ensure that the Bank's risks are duly identified, measured, monitored and reported, the BIS has an independent Risk Management function covering financial risks and an Operational Transformation and Resiliency unit covering operational risks.
The Bank's audit mechanisms include an Internal Audit unit and an independent external audit firm.
The BIS Legal Service advises the BIS Board, Management and business areas on all legal matters relating to the Bank's activities, to ensure that the Bank acts at all times with due respect for the rule of law.
The Bank's independent Compliance function provides assurance that the activities of the BIS and its staff are conducted in accordance with the highest ethical standards and the relevant rules.