Our Mission Statement 'Safeguarding Stability, Protecting Consumers' is at the heart of all that we do and encapsulates the dual priorities for the Central Bank in delivering on its mandate.
We are committed to being an independent, forthright and influential organisation with a compelling, clear and challenging vision of being 'Trusted by the Public, Respected by our Peers, Fulfilling Workplace for our People'.
Our Mission and Vision are central to our Strategic Plan and inform both what we do (our Strategic Responsibilities) and how we operate (our Strategic Enablers), each of which are set out in our Strategic Plan. Our Principles and Priority Behaviours define our culture and work practices.
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- Primacy of the Public Interest
- Working with Integrity and Transparency
- Respecting and Valuing Each Other as Colleagues
- Creating a Fulfilling and Progressive Work Environment
- Encouraging Vigorous Debate, Constructive Challenge and Effective Risk Mitigation
- Being Accountable for Our Performance
- Operating Effectively and Efficiently
- Collaborating and Working as a Team to Achieve our Goals
Our Priority Behaviours
- Challenge Constructively
- Deliver on Commitments
- Lead the Way Forward
- Collaborate and Share
- Develop Self and Others
- Initiate Improvements
Our Strategic Responsibilities and Enablers
The Central Bank’s primary objectives have been set out in legislation. Its Strategic Responsibilities are aligned to these objectives.
The organisation of the Bank’s internal capabilities is crucial in order to address a broad and complex mandate. Within an overall context of efficiency and effectiveness, a number of critical factors have been identified which must be managed at a strategic level.
People and Knowledge
As a knowledge-based organisation, the Central Bank needs to attract, retain and develop skilled people and collaborate effectively through knowledge sharing. To achieve this, the Central Bank seeks to recruit, select, motivate and develop its people in an effective way, and offer a reward model which is merit based and attractive. The Central Bank will continue to develop and support a learning culture and ensure that it is a fulfilling place to work.
Information and Resources
The Central Bank aims to manage its information, data and other resources effectively and efficiently. Data, tools and capabilities need to be available, aligned and optimised to generate effective business insight and to deliver on our mandate. In this regard, a comprehensive data and information management strategy will be developed and implemented. The Central Bank’s relocation to a new head office at North Wall Quay has facilitated improved ways of working, collaboration and efficiency.
Communications and Accountability
The Central Bank seeks to communicate and engage actively and report openly and transparently on its performance. Effective communications support the delivery of the Bank’s strategy through helping to build trust and credibility and by ensuring that it is approachable, accessible and responsive to stakeholders. The Central Bank is developing and broadening its communication channels, including digital media, in order to promote more actively its role to internal, domestic and international audiences, and enhance its engagement with the public and relevant stakeholders.
Our Strategic Plan
For a fuller explanation of our high level goals read Our Strategic Plan 2016 - 2018.
Operational Efficiency and Cost Effectiveness
Efficiency and cost effectiveness will underpin all our operations. The Central Bank will strive to have the people, systems and structures in place to maximise our effectiveness. Cost control within our own operations and ensuring the optimum return on the Central Bank's investment portfolio will be key considerations in our financial and planning process. Our operations will also be conducted within well-defined risk management and control frameworks and in this regard, please see our EHS Annual Report for 2015.
The Central Bank Reform Act 2010 created the new single unitary body, the Central Bank of Ireland, which replaced the previous related entities, the Central Bank and the Financial Services Authority of Ireland and the Financial Regulator. The Act commenced on 1 October 2010.