Organisation

The Bank’s activities are built up around the three operational areas

Norges Bank Monetary Policy (NBMP)

Norges Bank Financial Stability (NBFS)

Norges Bank Investment Management (NBIM).

An additional area provides staff and group services.

Norges Bank has its head office in Oslo. As at 31 December 2006, the Bank had 542 employees.

 

 

Organisation chart (pdf, 59 kB)

Management

Central Bank Governor: Svein Gjedrem

Deputy Governor: Jarle Bergo

The Executive Board is responsible for the Bank's executive and advisory activities, and consists of seven members, all appointed by the Government. The Central Bank Governor and Deputy Governor serve as chairman and deputy chairman respectively of the Executive Board. Employees have two members who supplement the Executive Board when it deals with administrative matters.

The Supervisory Council is responsible for ensuring that the rules for the Bank's activities are observed. It consists of fifteen members, elected by the Storting. The Bank's Audit Department reports to the Supervisory Council.

Communications Department / Director of Communications

The department is responsible for internal and external communications and has editorial responsibility for the Internet, intranet and publications. The department is also responsible for the  translation services. The Director coordinates all contact with the media as well as the lecturing activities of the Governor and Deputy Governor. The Director reports to the Central Bank Governor and is a member of the Bank's management team.

Director of Communications: Siv Meisingseth
Telephone: +47 22 31 63 50 / +47 91 63 89 12

Legal Department

The department provides legal advice and deals with the legal aspects of the Bank's entire range of operations, with particular emphasis on central bank legislation and payment and settlement systems, financial instruments and asset management, notes and coins and the Bank's own management.

Executive Director: Marius Ryel
Telephone: +47 22 31 60 31

Internal Audit (IA)

The purpose of Internal Audit is to contribute on behalf of the Executive Board to the attainment of Norges Bank’s objectives, by ensuring that there is adequate and effective risk management in the Bank and appropriate and satisfactory internal control. Internal Audit shall make independent and objective statements and provide advice concerning improvements in the management and control systems.

However, Internal Audit is not responsible for developing or implementing Norges Bank’s internal control.

Head: Ingunn Valvatne
Telephone: +47 22 31 63 12

Central Bank Audit

Central Bank Audit is Norges Bank’s statutory auditor and performs financial auditing and supervision on behalf of the Supervisory Council, according to a separate Charter. The primary tasks include:

• auditing of the Bank’s annual financial statements and other financial reporting
• ensuring that management of the Bank’s assets and financial affairs is subject to  satisfactory control, that operations are conducted in a financially sound manner and that the Bank's activities are conducted in accordance with laws, agreements, resolutions and preconditions.

Head: Svenn Erik Forsstrøm, State Authorised Public Accountant
Telephone: +47 22 31 64 46