Responsibilities and scope of work of the Governor and Deputy Governor of the State Bank of Vietnam

Responsibilities and scope of work of the Governor and Deputy Governor of the State Bank of Vietnam (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Responsibilities and scope of work of the Governor of the State Bank of Vietnam

* Responsibility:

- Direct and manage the State Bank to perform its functions, tasks, and powers in accordance with the provisions of the Constitution, the Law on Government Organization, the Law on the State Bank of Vietnam, and the Government's Decree regulates the functions, tasks, powers, and organizational structures of ministries and ministerial-level agencies, the Government's Decree on the functions, tasks, powers, and organizational structure of the State Bank, the Government's working regulations, and relevant legal documents;

- Assign work to Deputy Governors; authorize the Head of Representative Office and Branch Director to handle a number of tasks within the functions and tasks of the State Bank; Authorize Heads of units under the State Bank to perform a number of specific tasks within the legal framework; proactively coordinate with other ministries and agencies to handle issues related to the tasks of the State Bank or issues assigned by the Government and Prime Minister;

- Direct, guide, inspect, and examine the activities of ministries, branches, People's Committees at all levels, credit institutions, other agencies and organizations, and units of the State Bank in implementing legal regulations on currency and banking activities;

- Sign documents under the Governor's authority.

* Scope of work:

- Works under the authority specified in the Constitution, Law on Government Organization, Law on the State Bank of Vietnam, Law on Credit Institutions, Working Regulations of the Government, related legal documents, and tasks specified in Clause 1 of this Article;

- Work assigned or authorized by the Government or Prime Minister;

- Directly resolve some matters that have been assigned to the Deputy Governor, but are deemed necessary because of important content or matters related to two or more Deputy Governors but the Deputy Governors have different opinions;

- Directly handle or assign a Deputy Governor to handle the work of another Deputy Governor when that Deputy Governor is absent.

- Authorize or assign a Deputy Governor to manage the general affairs of the State Bank in the Governor's absence.

* Tasks that need to be discussed collectively by the State Bank's Board of Directors (Governor and Deputy Governors) before the Governor decides:

- Strategy, planning, and development plan for the banking industry;

- Work program and plan for developing annual and long-term legal documents of the industry; draft legal documents submitted to the Government, Prime Minister, National Assembly, National Assembly Standing Committee;

- Industry plans to implement important guidelines and policies of the Party and State, and important legal documents issued by superiors;

- Key programs and projects of the industry;

- Plan for allocation of capital construction investment capital and annual funding of the State Bank;

- The organizational structure and personnel of the State Bank, the personnel work of commercial banks with state shares of over 50% of capital according to regulations;

- Annual report summarizing the implementation of the sector's tasks and reviewing the operating direction of the State Bank;

- Issues of signing and participating in international treaties; plans to implement commitments to ensure international integration;

- Other issues that the Governor finds necessary to discuss.

In cases where there are no conditions to organize a collective discussion, according to the Governor's direction, the unit in charge of performing assigned tasks coordinates with the Office to collect opinions from Deputy Governors.
in writing, submitted to the Governor for decision.

After the Deputy Governors have given their opinions, the Governor is the one who makes the final decision and is responsible for his decision.

(Article 3 of the Working Regulations of the State Bank of Vietnam issued together with Decision 2805/QD-NHNN in 2014)

2. Responsibilities and scope of work of the Deputy Governor of the State Bank

* Responsibilities:

Each Deputy Governor is assigned by the Governor to be in charge of a number of work areas and a number of units. They can use the powers of the Governor, in the name of the Governor when handling tasks in the assigned field and is responsible before the Governor and the law for their decisions.

When the Governor adjusts the assignment between Deputy Governors, the Deputy Governors must hand over work content, records, and related documents to each other and report to the Governor.

* Scope of work:

- Direct the implementation of the development of legal documents, development strategies, planning, plans, schemes, projects, and other management documents in the fields assigned by the Governor;

- Direct and inspect the implementation of the State's guidelines, policies, laws, and decisions by the Governor within the assigned scope, detect and propose issues that need to be amended and supplemented;

- Proactively resolve assigned tasks. If there is a problem related to another Deputy Governor's field, directly coordinate with that Deputy Governor to resolve it. In case there are different opinions among the Deputy Governors, they must be reported to the Governor for decision;

- For policy or principled issues that do not yet have regulatory documents or sensitive issues that easily impact the country's socio-economic situation and the industry's situation on the signing of international agreements and other important issues, the Deputy Governor must seek the Governor's opinion before making a decision.

(Article 4 of the Working Regulations of the State Bank of Vietnam issued together with Decision 2805/QD-NHNN in 2014)

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