Organisation and Tasks of Danmarks Nationalbank

Staff

At the close of 2009, Danmarks Nationalbank had 549 employees, equivalent to 509 full-time positions. Employees in part-time positions constituted 13 per cent of the staff.

The number of employees grew by four (full-time equivalents) from 2008 to 2009, primarily reflecting the reestablishment of the IT department and the increased focus on financial stability.

Most of the new employees have academic degrees. The number of employees in the other staff groups has generally fallen.

During 2009 the number of apprenticeships was increased to 10 within a range of areas: electricity, carpentry/joinery, gastronomy, graphics (media graphics and technical graphics), data technology and clerical work (administration and finance). In addition, one further PhD scholarship was offered, bringing the total number to six in 2009. To this should be added three trainee positions.

At year-end 13 employees were on leave to work for international institutions. Four employees were on short-term leave to work at the ECB during the year.

Staff turnover fell to 9.5 per cent in 2009, the lowest rate since 2003. In the period since 2004, average seniority has declined by 1½ years to 11.8 years. During the same period, the average age has fallen by 1 year to 41.7 years.

At end-2009, 223 employees had been employed for less than 5 years, as compared with 157 five years earlier. At the other end of the scale, 96 had been employed for 25+ years at end-2009, down from 119 in 2004, cf. Table 3.

In 2009, absence due to illness was an average of 7.6 days per staff member, which is a small increase compared with 2008 (7.2 days).

Development programme for economists
As a new initiative, Danmarks Nationalbank has introduced a develop ment programme for newly graduated economists. The programme ensures a more formalised framework for employee development than has been the case so far, while also supporting internal mobility, cooperation across departments and broader insight into central-bank functions. The programme includes working in several economic departments, as well as relevant stints abroad.

Danmarks Nationalbank's buildings

Listing of the Danmarks Nationalbank building
In 2009, the Heritage Agency of Denmark decided to list the Danmarks Nationalbank building in Havnegade 5 on the recommendation of the Historic Buildings Council. The building, designed by the Danish architect Arne Jacobsen, was constructed in three stages in the years 1965-78. In its motivation for listing the building, the Heritage Agency states, inter alia, that the architectural and cultural historical values of the building warrant listing. Moreover, it is stated that the principal elements that make the building worthy of listing are its architectural presence it its urban surroundings, its layout, the exquisite choice of materials, the elaborate and consistent details and the gardens.

Among other things, listing means that in future Danmarks Nationalbank will have to apply to the Heritage Agency before initiating any construction work beyond general maintenance.

A major maintenance project in 2009 was the replacement of the roofing on the lower part of the building. The roof surface is approximately 5,200 square metres. The roof garden was restored to its original layout.

Management and organisation

Danmarks Nationalbank is a self-governing institution managed by a Board of Directors, a Committee of Directors and a Board of Governors. Mr Søren Bjerre-Nielsen, Group President, is Chairman of the Committee of Directors and the Board of Directors.

The Board of Governors has three members. The three governors are charged with the day-to-day management of Danmarks Nationalbank and hold full responsibility for the formulation and ongoing adjustment of monetary policy. As Governor by Royal Appointment Mr Nils Bernstein is Chairman of the Board of Governors. The other two members, who are appointed by the Board of Directors on the recommendation of the Committee of Directors, are Mr Torben Nielsen and Mr Jens Thomsen.

The Royal Bank Commissioner is the formal link between the Govern ment and Danmarks Nationalbank. The Minister for Economic and Business Affairs, Mr Brian Mikkelsen, is the Royal Bank Commissioner.

Representation of the Board of Governors on committees, in international organisations, etc.

As of 1 March 2010, the Board of Governors is represented on the following committees, etc.:

• Bankernes EDB Central
  Governor Torben Nielsen is an observer on the Board of Directors.

• Danish Ship Finance A/S
  Governor Jens Thomsen is the Vice Chairman of the Board of Directors.

• The Financial Business Council
  Governor Jens Thomsen is a member.

• The Economic Council
  Governor Jens Thomsen is a member.

• PBS Holding A/S and PBS A/S
  Governor Torben Nielsen is aa member of the Board of Directors.

• VP Lux S.à r.l.
  Governor Torben Nielsen is the Chairman of the Board of Directors.

• VP Securities A/S
  Governor Torben Nielsen is the Vice Chairman of the Board of Directors.

The European Union, EU

• The Economic and Financial Committee
  Governor Jens Thomsen is a member.
  
  
  
• Economic and Financial Committee Group on EU Government Bonds and Bills Markets
  Governor Jens Thomsen is Chairman.

The European Central Bank, ECB

• The General Council
  Governor Nils Bernsteinis a member.
  
  
• International Relations Committee
  Governor Jens Thomsen is a member.

The International Monetary Fund, IMF

• Board of Governors
  Governor Nils Bernsteinis is the Danish member.

• The Nordic/Baltic Monetary and Financial Committee
  Governor Jens Thomsen is a member.

Organisation for Economic Cooperation and Development, OECD

• The Economic Policy Committee
  Governor Jens Thomsen is a member.

Bank for International Settlements, BIS
Governor Nils Bernstein represents Danmarks Nationalbank.

Organisation chart 1 March 2010