Directorate General for Planning, Organization and Accounting

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Director General: Paolo Sestito

Deputy Director General: Pier Francesco Ferrari

Numero addetti: 202

Contacts

Organization Directorate

The Directorate oversees the organizational development in the Bank of Italy.

It studies changes in organizational techniques and models. It proposes changes to the organizational structure of the Head Office and the branch network, to the coordination procedures, and to the system of powers and responsibilities.

The Directorate encourages innovation in and the streamlining of work processes. It also develops project management and financial control methodologies.

It establishes the criteria for the Bank's internal rules and regulations and coordinates the application of external regulations.

It is responsible for the quality of the Bank's rules and regulations and it formulates updates to the General Regulations. It discharges the obligations imposed by law for the processing of personal data.

It coordinates the operational risk management system, including with reference to cyber risk, providing assistance to the Bank's organizational units in conducting risk assessments and formulating response measures.

It coordinates the business continuity system and handles general Bank emergencies.

It promotes the Bank's environmental policy and monitors social responsibility issues.

Number of employees: 58

Head:

Accounting Directorate

The Directorate manages the Bank's accounting system and is responsible for keeping the accounts and mandatory ledgers. It defines the accounting schemes and the information that operating procedures must transmit to the accounting system. It issues instructions on the structuring and execution of accounting entries by the various organizational units. Acting as a second line of control, it draws up and manages the accounting control methodology and puts in place the corresponding controls.

It prepares the annual accounts and the related documents, also drawing on the data produced by the relevant competent units. It monitors risk developments for the purpose of preparing the annual accounts and conducts periodic projections of balance sheet and profit and loss account items, both for informational purposes and to support the Bank’s decision-making bodies.

It prepares the periodic financial statements to be sent to the Ministry of Economy and Finance and those provided for at ESCB level. It prepares accounting statements for statistical reports both at national level and for the ECB or other international bodies.

It manages and coordinates the preparation of the Report on Operations and Activities of the Bank of Italy and of the publication on the functions and objectives of the Bank of Italy.

It contributes to defining the accounting rules within the ESCB accounting committee and the related working groups; it monitors the evolution of  national and international regulations and standards on both financial and non-financial reporting.

It is involved in developing and upgrading IT procedures with accounting effects, including for the purpose of identifying the necessary level of security.

It keeps the accounts and mandatory ledgers of the supplementary pension fund for Bank employees and manages the accounts of third-party entities on the basis of specific agreements.

It provides support to the Accountant General in interactions with the Board of Auditors; coordinates the production of information flows intended for the external auditing firm responsible for auditing the annual accounts and checking the proper keeping of the accounts.

It manages and is responsible for certain accounting processes classified as critical for the Bank's business continuity.

Number of employees: 55

Head:

Planning and Controls Directorate

The Directorate oversees financial management as part of the Bank's corporate planning processes.

It coordinates the strategic planning system.

It also coordinates the process of preparing the estimated budget for planned expenditure, monitors its implementation during the year and prepares the annual budget outturn.

It manages the Bank's analytical accounting system, analyses costs and corporate efficiency, manages and develops information systems for business data measurement, and produces the information necessary to the Bank of Italy and the Eurosystem for fact-finding and decision-making.

It examines expenditure developments.

It controls expenditure processes, focusing on cost-effectiveness and compliance while taking account of any developing risks.

It sets out the rules governing the practical application of the compensation policy for business trips and job transfers, it oversees the ensuing payments for business trips and ensures that the expense claims submitted and the allowances paid out are complete and compliant with the rules.

It handles the operational procedures to support spending and financial compensation tasks in connection with business trips and job transfers, laying down the rules for their practical implementation.

Number of employees: 53

Head:

Tax Directorate

The Directorate ensures that the Bank meets its tax obligations in its capacity as a tax entity subject to direct and indirect taxation and as a withholding agent in charge of collecting tax and submitting tax returns. It provides mandatory information to the financial authorities.

It ensures the correct application of tax laws by the Bank's Head Office and branches, providing instructions and guidance.

It manages tax disputes and liaises with Italian financial authorities and those of other countries.

It contributes to the preparation of accounting documents relating to taxation.

It manages the taxation issues of third party entities based on the obligations taken on by the Bank of Italy.

It analyses new tax legislation, including at EU and international level, paying special attention to the implications for the Bank of Italy and for the financial sector.

It carries out research on the Italian and foreign tax systems and on international taxation topics.

Number of employees: 34

Head: