Central Bank of Iceland
Nanna Huld Aradottir has extensive work experience in audit and executive roles. Nanna Huld started their career in 1986 at the National Audit Office, where they worked as a Performance Auditor for 14 years. Nanna Huld then joined Kreditkort hf as Chief Audit Executive in 2000, and worked there until 2007. Nanna then moved on to Straumur Investment Bank, where they held the same position for two years. In 2009, they joined Deloitte as an ERS Team Leader, and stayed with the company until 2012. Currently, Nanna is the Chief Audit Executive at the Central Bank of Iceland.
Nanna Huld Aradottir obtained a Cand. Oecon. degree from Háskóli Íslands, where they studied from 1984 to 1987. Prior to that, they attended Menntaskólinn við Sund from 1978 to 1982 as a Stúdent. Nanna also holds certifications in Risk Management Assurance (CRMA) and Certified Internal Auditor, which were obtained in 2019 and 2004 respectively, from The Institute of Internal Auditors Inc.
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Central Bank of Iceland
The Central Bank of Iceland is an independent institution, owned by the Icelandic state. The principal objective of the Central Bank is to promote price stability. The Bank shall also promote financial stability. The Central Bank shall promote the implementation of the Government’s economic policy as long as it does not consider this inconsistent with its main objective of price stability. In addition, the Central Bank undertakes standard central banking tasks, such as maintaining external reserves and promoting an efficient and safe financial system, including payment systems domestically and with foreign countries. It is also responsible for the issue of notes and coin, exchange rate matters and other duties, as specified in the Central Bank Act. The Central Bank of Iceland shall accept deposits from commercial banks, savings banks and other deposit institutions. The Central Bank may also accept deposits from other credit institutions. The Central Bank trades in foreign currency, acts as an intermediary in foreign exchange transactions, and conducts other foreign transactions. The Prime Minister appoints the Governor and Deputy Governor of the Central Bank for a five-year term. Decisions on applying the Central Bank's monetary policy control mechanisms shall be taken by the Monetary Policy Committee. In other respects, the Bank's direction shall be in the hands of the Governor. The Central Bank is ultimately under the administration of the Prime Minister and a Supervisory Board. Parliament elects seven members to the Supervisory Board after each parliamentary election. The Central Bank of Iceland was established by an act of Parliament in 1961, although the history of central banking in Iceland is much longer. The current Central Bank Act is no. 36/2001, cf. amendments.