Departments

Organizational Structure

The Organization Structure shows the internal operations of the RBV. The internal operations are organized into seven main departments namely, Office of the Governor, Department of Economics, Research and Statistics, Department of Financial Regulation, Department of Financial Markets, Department of Financial Development and Consumer Affairs, Department of Accounts, Currency and Customer Services and the Department of Corporate Services and Risk Management.

Office of the Governor

The Core roles of the office of the Governor and the Executive Management are comprised of the following:

Develop the overall vision of the organization;
Provide organizational strategic planning and leadership;
Execute board decisions and management functions;
Ensure that statutory and other functional responsibilities are met;
Provide corporate communications, liaison and working relationship with international and national stakeholders
Governor’s Office through the Human Resources Unit (HRU) contributes to the RBV's mission of recruiting, developing and retaining a professional team dedicated to the pursuit of quality practices. It contributes to instilling the values of the RBV as regards professionalism and corporate culture at the work place
Governor’s office also through the Legal Counsel Unit fulfils the role of ensuring that all of RBV's legal obligations are met. The office protects the RBV from possible litigation enabling a smooth functioning of the RBV

Department of Economics, Research and Statistics

The Research department's main responsibility is to conduct economic analysis and provide advice on the formulation of monetary policy. Some of the department's key tasks include:

Collection, analysis and monitoring of economic, and financial data;
Writing and coordinating the Banks publications;
Undertake research and studies on sectors of interest in the economy;
Providing advice on appropriate monetary policy settings in Vanuatu;
Coordinating economic policies with relevant authorities;
Provision of data to international and other organizations;

Department of Financial Regulation

One of the roles of the Reserve Bank of Vanuatu (RBV), as defined under Reserve Bank of Vanuatu Act [CAP 125] is to supervise domestic and offshore (or international) banks. This function is carried out by the Financial Regulations Department, which is responsible for the supervision of domestic banks licensed under the Financial Institutions Act of 1999 and offshore banks licensed under the International Banking Act of 2002 and Insurance companies licensing under Insurance Act of 2005.

Some of the key areas that are outlined in the Acts include;

The power to issue and revoke banking licenses;
Supervision of licensed financial institutions within prudential guidelines and accepted international accepted standards through the conduct of on- and off-site analysis, and meetings with financial institutions;
Assessing the fitness and propriety of persons involved in the management of licensed institutions;
Ensuring that licensees prudential policies and guidelines are consistent with international best practices and that management practices are sound;
Regularly reviewing international developments in the area of financial system supervision and payments system and their impact on the supervisory arrangement and payment systems in Vanuatu; and
Co-ordination with other domestic and international supervisory authorities;

Department of Financial Markets

The primary responsibilities of the Office are:

To administer foreign exchange dealing transaction with clients;
To determine the daily indicative rate of exchange for the Vatu vis-à-vis major currencies;
To administer the official foreign reserves of the Bank;
To administer guidelines on dealings in foreign exchange as issued by the Bank;

Department of Financial Development and Consumer Affairs

The Department of Financial Development and Consumer Affairs is responsible for the development maintaining and reviewing regulations, policies and systems to support financial inclusion in Vanuatu.

The Department comprises two offices: Financial System Development and Innovation Office and Consumer Affairs Office.

Financial System Development and Innovation Office monitors and assist financial sector development in areas of Digital Finance Services, MSME Finance and Inclusive & Green Finance. The Consumer Affairs Office is responsible for the development, implementation and monitoring of Financial Literacy, Consumer Protection, and Market Conduct.

Department of Accounts, Currency & Customer Services

The Accounts, Currency & Customer Services Department is responsible for overseeing the operations related to accounts management, currency administration, and the delivery of customer services to the Government and commercial banks. The department ensures efficiency and accuracy in all payment and settlement processes, as well as the smooth functioning of currency-related operations. Its mandate further includes maintaining effective coordination with stakeholders to uphold service quality and operational integrity.

The structure includes the following core units:

Accounts
Banking & Payment & Settlement
Currency Services

Department of Corporate Services & Risk Management

The Corporate Services & Risk Management Department is a new department created by relocating several key sections from the former Support Services Department. This restructuring aims to enhance operational effectiveness, improve service delivery, and strengthen risk oversight across the institution.

The department consists of the following core units:

Logistics Operations
Property & Asset Management
Over See, manage and secure almost ALL physical Infrastructures, assets and equipment of the Bank including majority of procurement, and carry out cleaning, maintenances, services and disposal suggestion/recommendations of such. Another rising need is the crucial roles of implementation BCP procedures/processes during ALL disasters
Risk & Oversight Management

Northern Branch (Mini Structure)

The Santo Branch operates as a mini-central structure, delivering key functions of the main Central Bank at the northern branch. This setup supports the Bank’s decentralization strategy by bringing essential services closer to the public and financial institutions in the northern provinces.