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Teresa Czerwińska

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Teresa Czerwińska (born September 7, 1974)[1] is a Polish economist originally from Latvia. Since 2020, she has served as the Vice President of the European Investment Bank.

Early life

Czerwińska was born in Daugavplis[2], Latvian Soviet Socialist Republic. She is the daughter of two Latvian Poles — Bronisław and Ludmiła Tumanowski.[2] As a child, she was active within the Association of Poles, where she served as a scout. She was awarded a scholarship for being a part of the Polish diaspora, which inspired her to leave Daugavplis in order to begin her studies in Poland.[3]

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Daugavpils

Daugavpils

Daugavpils is a state city in south-eastern Latvia, located on the banks of the Daugava River, from which the city gets its name. The parts of the city north of the river belong to the historical Latvian region of Latgale, and those to the south lie in Selonia. It is the second-largest city in the country after the capital Riga, which is located some 230 kilometres to its north-west.

Latvian Soviet Socialist Republic

Latvian Soviet Socialist Republic

The Latvian Soviet Socialist Republic, also known as Soviet Latvia or simply Latvia, was a Federated Republic within the Soviet Union, and formally one of its 16 constituent Republics of the Soviet Union. The Latvian Soviet Socialist Republic was in existence for fifty-one years, from August 5, 1940 to September, 6 1991.

Association of Poles in Lithuania

Association of Poles in Lithuania

Association of Poles in Lithuania is an organization formed in 1989 to bring together members of Polish minority in Lithuania. It numbers between 6,000 to 11,000 members. It defends the civil rights of the Polish minority and engages in educational, cultural and economic activities. It is the largest Polish organization in Lithuania, and was created in 1990.

Diaspora

Diaspora

A diaspora is a population that is scattered across regions which are separate from its geographic place of origin. Historically, the word was used first in reference to the dispersion of Greeks in the Hellenic world, and later Jews after the Babylonian exile. The word "diaspora" is used today in reference to people who identify with a specific geographic location, but currently reside elsewhere.

Education and career

Czerwińska graduated from the University of Gdańsk in 1997 with undergraduate degrees in Social Sciences and management. She began her doctoral dissertation on the investment activity of insurance companies and their effects on the capital market in Poland, which she successfully defended her in 2000.

Czerwińska earned her PhD in economics from the University of Gdańsk. She served as an associate professor at the University of Gdańsk and then at the University of Warsaw. She is a specialist in the field of risk management within financial institutions and markets.

In 2011, Czerwińska was offered a position as an associate professor within the Department of Financial Systems of Economics and within the Department of Management. Between 2015-2018, she was the secretary in the Polish Academy of Sciences for the Committee on Financial Sciences.

In 2015, she became the Undersecretary of the State in the Ministry of Science and Higher Education.[4] Within her role, Czerwińska was responsible for many areas within the department. She helped with the development and implementation of a new mechanism that uses algorithms to allocate budget subsidies for public universities. This improved the efficiency of how funds were spent and the implementation of quality solutions for financing universities. Then, in 2017, Czerwińska was appointed Undersecretary of the State in the Ministry of Finance, where she was responsible for the preparation and implementation of state budget, and also handling funds from the European Union.[5]

In 2018, Prime Minister Mateusz Morawiecki appointed Czerwińska to be the minister of finance.[6] Until her appointment, Morawiecki had occupied that role in conjunction with being the Prime Minister.[7]

In 2019, Czerwinska became a member of the Management Board of the National Bank of Poland, and a position she held until she became the Vice President of the European Investment Bank (EIB) in 2020.[8] At the EIB, Czerwinska has worked on several portfolios including affordable housing, addressing climate change, and aid to Ukraine.[9]

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Management accounting

Management accounting

In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions.

Insurance

Insurance

Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to guarantee another party compensation in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.

Capital market

Capital market

A capital market is a financial market in which long-term debt or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers to those who can put it to long-term productive use, such as companies or governments making long-term investments. Financial regulators like Securities and Exchange Board of India (SEBI), Bank of England (BoE) and the U.S. Securities and Exchange Commission (SEC) oversee capital markets to protect investors against fraud, among other duties.

Economics

Economics

Economics is the social science that studies the production, distribution, and consumption of goods and services.

Associate professor

Associate professor

Associate professor is an academic title with two principal meanings: in the North American system and that of the Commonwealth system.

Risk management

Risk management

Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

Financial institution

Financial institution

Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institutions:Depository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies; Contractual institutions – insurance companies and pension funds Investment institutions – investment banks, underwriters, and other different types of financial entities managing investments.

Polish Academy of Sciences

Polish Academy of Sciences

The Polish Academy of Sciences is a Polish state-sponsored institution of higher learning. Headquartered in Warsaw, it is responsible for spearheading the development of science across the country by a society of distinguished scholars and a network of research institutes. It was established in 1951, during the early period of the Polish People's Republic following World War II.

Algorithm

Algorithm

In mathematics and computer science, an algorithm is a finite sequence of rigorous instructions, typically used to solve a class of specific problems or to perform a computation. Algorithms are used as specifications for performing calculations and data processing. More advanced algorithms can perform automated deductions and use mathematical and logical tests to divert the code execution through various routes. Using human characteristics as descriptors of machines in metaphorical ways was already practiced by Alan Turing with terms such as "memory", "search" and "stimulus".

Public university

Public university

A public university or public college is a university or college that is in state ownership or receives significant public funds through a national or subnational government, as opposed to a private university. Whether a national university is considered public varies from one country to another, largely depending on the specific education landscape.

Government budget

Government budget

A government budget is a document prepared by the government and/or other political entity presenting its anticipated tax revenues and proposed spending/expenditure for the coming financial year. In most parliamentary systems, the budget is presented to the legislature and often requires approval of the legislature. Through this budget, the government implements economic policy and realizes its program priorities. Once the budget is approved, the use of funds from individual chapters is in the hands of government, ministries and other institutions. Revenues of the state budget consist mainly of taxes, customs duties, fees and other revenues. State budget expenditures cover the activities of the state, which are either given by law or the constitution. The budget in itself does not appropriate funds for government programs, hence need for additional legislative measures.

European Union

European Union

The European Union (EU) is a supranational political and economic union of 27 member states that are located primarily in Europe. The union has a total area of 4,233,255.3 km2 (1,634,469.0 sq mi) and an estimated total population of about 447 million. The EU has often been described as a sui generis political entity combining the characteristics of both a federation and a confederation.

Publications

Czerwińska has co-authored numerous scientific publications and academic textbooks on macroeconomics, insurance, and investment management. She has analyzed expert opinions in the field of financial management, the risks within financial institutions, and socially responsible investing.

Selected publications:

  • Rynek kapitałowy – regulacje i fundamenty (współredaktor), 2018,
  • Ryzyko instytucji finansowych. Współczesne trendy i wyzwania (współautor), 2016,
  • Rynek kapitałowy – efektywność i ryzyko (współredaktor), 2016,
  • Ubezpieczenia (współautor), 2016,
  • Makroekonomia (podręcznik akademicki, współautor) 2015,
  • Inwestowanie na rynku kapitałowym: rynek po kryzysie (współredaktor), 2015,
  • Rynek kapitałowy wobec wyzwań dekoniunktury (współautor), 2014,
  • Polityka inwestycyjna instytucji ubezpieczeniowych. Istota – uwarunkowania – instrumenty, 2009,
  • Towarzystwa ubezpieczeniowe na rynku kapitałowym w Polsce, 2003.

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Scientific literature

Scientific literature

Scientific literature comprises scholarly publications that report original empirical and theoretical work in the natural and social sciences. Within an academic field, scientific literature is often referred to as the literature. Academic publishing is the process of contributing the results of one's research into the literature, which often requires a peer-review process.

Macroeconomics

Macroeconomics

Macroeconomics is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and government spending to regulate an economy’s growth and stability. This includes regional, national, and global economies. According to a 2018 assessment by economists Emi Nakamura and Jón Steinsson, economic "evidence regarding the consequences of different macroeconomic policies is still highly imperfect and open to serious criticism."

Insurance

Insurance

Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to guarantee another party compensation in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.

Investment management

Investment management

Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contracts or, more commonly, via collective investment schemes like mutual funds, exchange-traded funds, or REITs.

Financial management

Financial management

Financial management is the business function concerned with profitability, expenses, cash and credit, so that the "organization may have the means to carry out its objective as satisfactorily as possible;" the latter often defined as maximizing the value of the firm for stockholders.

Financial institution

Financial institution

Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial institutions:Depository institutions – deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies, credit unions, trust companies, and mortgage loan companies; Contractual institutions – insurance companies and pension funds Investment institutions – investment banks, underwriters, and other different types of financial entities managing investments.

Source: "Teresa Czerwińska", Wikipedia, Wikimedia Foundation, (2022, November 26th), https://en.wikipedia.org/wiki/Teresa_Czerwińska.

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References
  1. ^ "Biuletyn Informacji Publicznej Instytutu Pamięci Narodowej". web.archive.org. 2018-06-30. Retrieved 2022-11-14.
  2. ^ a b Mieśnik, Magda (2018-01-07). "Kandydatka PiS na ministra finansów urodziła się w ZSRR. Nieznana przeszłość Teresy Czerwińskiej". wiadomosci.wp.pl (in Polish). Retrieved 2022-11-15.
  3. ^ Media, Instytut Gość (2018-02-01). "Marzyłam o wyjeździe do Polski". www.gosc.pl. Retrieved 2022-11-15.
  4. ^ "Teresa Czerwińska – Podsekretarz Stanu - Kierownictwo Ministerstwa Finansów - Ministerstwo Finansów". web.archive.org. 2018-01-07. Retrieved 2022-11-14.
  5. ^ "Nowa Nauka Polska". nauka-polska.pl (in Polish). Retrieved 2022-11-20.
  6. ^ "Teresa Czerwińska - Ministerstwo Finansów - Portal gov.pl". web.archive.org. 2019-03-15. Retrieved 2022-11-14.
  7. ^ "New finance minister for Poland". Polskie Radio dla Zagranicy. Retrieved 2022-11-18.
  8. ^ "Former finance minister becomes European Investment Bank vice-president". www.thefirstnews.com. February 27, 2020. Retrieved 2022-11-14.
  9. ^ "Teresa Czerwińska, EBI: Miliardy euro międzynarodowej pomocy popłyną do Ukrainy". Rzeczpospolita (in Polish). Retrieved 2022-11-18.

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