AGÊNCIA DE GESTÃO DA TESOURARIA E DA DÍVIDA PÚBLICA

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The IGCP, E.P.E.

Organization

Organizational Structure

The Agência de Gestão da Tesouraria e da Dívida Pública - IGCP, E.P.E./PortugueseTreasury and Debt Management Agency (IGCP, E.P.E.), legal person of public law with an entrepreneurial nature, endowed with administrative and financial autonomy and its own assets, equivalent to the credit institution, including for the treasury activity is governed by statutes (Decree-Law 200/2012 ), by internal regulations and the legal framework of public entities.

Employees of IGCP, E.P.E. may be subject to the regime of the individual employment contract and to the regime of individual employment contrat and to collective agreement for the banking sector. The IGCP, E.P.E. adopted a model of the type of business organization along similar lines to financial institutions whose principal activity is portfolio management.

The organisational structure comprises 4 Departments, 8 Technical Units, 6 Operational Units and 1 Legal Affairs Office.

The Markets and Portfolio Management Department (AGRM) which is responsible for proposing and executing the strategy for the active management of debt and derivatives of the State and Public Entities reclassified portfolio and provide services. It includes one technical unit: the Trading Room (NSM) and Portfolio Management Unit (NGR).

The Operations Department (AOP) is entrusted with the processing and accounting of financing operations and the management of Treasury accounts and cash balances. It is further responsible for controlling the accounts of the Treasury’s specific operations. It is composed of 3 operational units: the Settlements Documentation Unit (SAO) and the Accounting Unit (SOC).

The Customer Department (ACL) is in charge of client reception services, processing and controlling operations involving retail debt instruments (namely saving certificates) managing the Treasury’s accounts and providing banking services to Central Government bodies and other public entities. The Customer Department comprises the Retail Debt Unit (SDR), the Treasury Accounts Management Unit (SGT)and the Customer Accounts Management Unit (SGC).

The ITC Systems Department (ASI) is responsible for operating systems, database and communications security, security systems and equipment as well as managing projects and developing ones design of information systems. The ITC Systems Department (ASI) comprise the Development Information Systems Unit (NDS).

Seven other units report directly to the Board of Directors: The Secretary-General (SG) has the responsibility to support Statutory Bodies, follow up legislative procedures related to IGCP, E.P.E. and to ensure the relationship with all entities relating to the mission of IGCP, EPE, being also responsible for the performance of the functions indicated in the national and European legislation as Data Protection Officer (DPO); The Issuing and Markets (NEM), which is responsible for the implementation of the Programme Funding approved Trusteeship, with regard to the creation and management of public debt instruments (excluding retail); The Compliance Unit (NFC) is responsible for the development of instruments to manage compliance risks, in two main areas: i) prevention plan to avoid the use of IGCP’s (and other public autonomous administrative and financial services and funds) financial accounts for the purpose of money laundering & terrorism financing; ii) information collection and internal coordination in regulatory issues for external reporting; The Financial Control Unit (NCF), which is responsible for all aspects related to the development of risk management models, risk and performance evaluation, internal control mechanisms, procedures and internal auditing, and support Data Protection Officer (DPO); the Research and Reporting Unit (GES), which is entrusted with producing economic analysis, macroeconomic and interest-rate scenarios and external reporting; and the Administration Unit (SGA), which is in charge of all internal matters - personnel, goods and services' acquisitions, premises and budget control; the Legal Affairs Office (GA) provides the Board with legal, information and documentation support.

The Markets’ Committee, made up of the Board of Directors, the heads of the Debt Management Department, Financial Control Unit, Trading Room, Issuing and Markets Unit and the Research and Reporting Unit, meets once a week to define guidelines for financing and management operations based on the analysis of market developments and outlook, the position of the real debt portfolio against the benchmark and cash balance forecasts.