To conduct the practical work and ensure efficient management of Latvijas Banka, the Council of Latvijas Banka has established a permanent Board consisting of six persons.

Board of Latvijas Banka

First row, left to right: Raivo Vanags, Ilze Posuma, Harijs Ozols; second row, left to right: Jānis Caune, Māris Kālis, Jānis Blūms.

Māris Kālis
Chairman of the Board of Latvijas Banka

Māris Kālis has been the Chairman of the Board of Latvijas Banka since 2007. From 2001 to 2007, he was a Member of the Board and was responsible for financial reporting, the functioning of the internal control system and risk management. He was the Head of the Accounting Department of Latvijas Banka from 2000 to 2007.

During his career with Latvijas Banka, Māris Kālis delivered lectures at the University of Latvia in the area of financial management, accounting and financial reporting as well as participated as an expert in technical assistance programmes organised by the International Monetary Fund. Prior to his employment with Latvijas Banka, in 1998 he worked as an Assurance and Business Advisory Projects Manager with the international auditing and business advisory firm Arthur Andersen.

Māris Kālis holds a Master of Social Sciences degree in Economics from the University of Latvia. He is also on the list of Certified Auditors of the Latvian Association of Certified Auditors and acts as the Chairman of the Audit Commission of the Association.

Ilze Posuma
Deputy Chairperson of the Board of Latvijas Banka, Head of Legal Department

Ilze Posuma has been a Member of the Board of Latvijas Banka since 2007 and has been the Deputy Chairperson of the Board since 2014. She has been the Head of the Legal Department of Latvijas Banka since 2005 and is responsible for ensuring the compliance with legislative provisions in implementation of the tasks and functions of Latvijas Banka and in its daily routine operations.

Prior to her employment with Latvijas Banka, Ilze Posuma was the Head of the Legal Department at JSC Baltic International Bank. From 2001 to 2004, she was a Project Lawyer at JSC Aizkraukles banka and also delivered lectures at the Faculty of Law of the University of Latvia.

Ilze Posuma has obtained a Master of Social Sciences degree in Law from the University of Latvia as well as a Master's degree in Business Administration, Professional Qualification of a Manager of Businesses and Organisations (Institutions) from Riga Stradiņš University. In 2000/2001, Ilze Posuma studied at the University of Oxford, under the European and comparative law programme.

Ilze Posuma represents Latvijas Banka on the Legal Committee of the European System of Central Banks.

Jānis Blūms
Member of the Board of Latvijas Banka, Head of Cash Department

Jānis Blūms has been a Member of the Board of Latvijas Banka since 2014. He has been the Head of the Cash Department of Latvijas Banka since 2009 and is responsible for ensuring cash storage, accounting, processing and issuing to ensure smooth cash flow circulation in Latvia.

Prior to his employment with Latvijas Banka, from 2008 to 2009, Jānis Blūms was a Chairman of the Board of Ober Haus Valuation Service Ltd. and the Member of the Board of Ober Haus Real Estate Latvia Ltd. From 2006 to 2005 Jānis Blūms was a Member of the Board of Alexela Oil Latvia Ltd. From 2003 to 2005 he was Director General of Mažeiķu nafta Trading House Ltd. From 2000 to 2003 Jānis Blūms was Marketing Director and President of Eniro Latvia Ltd. From 1992 to 2000 he was Director General of Egmont Latvia Ltd.

Jānis Blūms holds a Bachelor's degree in Law from Turība University.

Jānis Blūms represents Latvijas Banka on the Banknote Committee of the European System of Central Banks.

Jānis Caune
Member of the Board of Latvijas Banka, Head of Accounting Department

Jānis Caune has been a Member of the Board of Latvijas Banka since 2014. He has been the Head of the Accounting Department of Latvijas Banka since 2007 and is responsible for financial reporting, accounting policy implementation and financial planning and control of Latvijas Banka.

From 2003 to 2007, Jānis Caune was employed as the Deputy Head of the Accounting Department of Latvijas Banka. From 1996 to 2003, he worked as Head of the Central Accounting Division at the Accounting Department, as a Chief Specialist, as an Accountant. Jānis Caune has been on short-term secondment with the ECB and as an expert has participated in the technical assistance programmes organised by the World Bank.

Jānis Caune has obtained a Banking Sciences degree in Economics from BA School of Business and Finance and a Master of Social Sciences degree in Economics from the University of Latvia. Jānis Caune is also an ACCA charterholder.

Jānis Caune represents Latvijas Banka on the Accounting and Monetary Income Committee, Budget Committee and Eurosystem Organisational Development Committee of the European System of Central Banks.

Harijs Ozols
Member of the Board of Latvijas Banka, Head of Information Systems Department

Harijs Ozols has been a Member of the Board of Latvijas Banka since 2002 and is in charge of the payment systems, statistics and Credit Register related issues. He has been the Head of the Information Systems Department of Latvijas Banka since 1997 and is responsible for the establishment, functioning and development of the information systems and telecommunications infrastructure required for the operation of Latvijas Banka.

From 1994 to 1997, Harijs Ozols was employed as the Deputy Head of the Information Systems Department of Latvijas Banka. From 1992 to 1994, he worked at Latvijas Banka as a Senior Programmer and the Head of the Programming and System Implementation Group.

Harijs Ozols has obtained a Professional Master's degree in software engineering and programming from Riga Technical University.

Harijs Ozols represents Latvijas Banka on the Information Technology Committee of the European System of Central Banks.

Raivo Vanags
Member of the Board of Latvijas Banka, Head of Market Operations Department

Raivo Vanags has been a Member of the Board of Latvijas Banka since 2008. He has been the Head of the Market Operations Department of Latvijas Banka since 2005 and is responsible for ensuring the management of Latvijas Banka's foreign reserves and monetary policy implementation.

From 2002 to 2005, Raivo Vanags was employed as a Financial Analyst of the Foreign Exchange Department of Latvijas Banka. Prior to his employment with Latvijas Banka, Raivo Vanags was the Head of the Securities Department at JSC Reģionālā investīciju banka. From 1998 to 2001, he was the Chairman of the Board of a securities brokerage JSC Vērtspapīri. From 1997 to 1998, Raivo Vanags worked as a Securities Analyst, Head of the Capital Markets Division and Head of the Resources Management Department of JSC Latvijas Zemes banka.

Raivo Vanags has obtained a Bachelor of Social Sciences degree in Economics from the Stockholm School of Economics in Riga and a Master of Social Sciences degree in Economics from the University of Latvia. Raivo Vanags is also a CFA charterholder.

Raivo Vanags represents Latvijas Banka on the Market Operations Committee of the European System of Central Banks.