Annual Report 2019

24 INSTITUTIONAL DEVELOPMENT CENTRAL BANK OF ARMENIA Central Bank security and business continuity: In light of the global trends in information security, in 2019 the Central Bank emphasized the need to maintain a framework for developed and effective cybersecurity in the financial system in Armenia. In order to neutralize cyber threats in this direction, work was done to establish a connection center with the MISP (Malware Information Sharing Platform) system, and required human, technical and financial resources were allocated. In 2019 further work was done to create a response center to incidents of cybersecurity in the financial sector. Knowledge and human resources: To encourage personnel's lifelong education and development, in 2019 the Central Bank offered its employees opportunities for their professional development, including by way of sharing in-house knowledge and experience with co-workers/colleagues. As of 2019, there were 64 employees who earned international qualification in financial, accounting, auditing, insurance, information technology areas. By the end of the year, the Central Bank's employees numbered 778 of whom 425 women and 353 men, with an average age of 41. During the year, 62 employees left the Bank. Communication and accountability: As part of ensuring transparency in fulfilling the primary objectives, the Central Bank communicated its actions, programs and initiatives in the field of implementing monetary policy, financial supervision and maintaining financial stability to the financial market participants and the public. Discussions were held on various issues of interest. Special attention was paid to advising people to use caution about organizations that operate illegally and/or about such activities that contain elements of essential risk. The documentary "Dramapatum" (narrative of the Armenian. currency) presenting the history of money circulation in Armenia was made and televised in 2019. ANNUAL REPORT 2019

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