Between 2023 and 2026, he served as Executive Director on the Board of Directors of the European Bank for Reconstruction and Development (EBRD), representing Poland, Bulgaria, and Albania. During this period, he was also a member of the EBRD’s Audit and Risk Committee.
Previously, he worked at the National Bank of Poland (NBP), where he held expert and managerial positions from 1995 onwards, including as Deputy Director of the Macroeconomic and Structural Analysis Department, Director of the Financial System Department, Director of the Economic Analysis Department (2017–2021), and Director of the Economic Analysis and Research Department (2021–2023).
From 2020 to 2026, he served as Chair of the Supervisory Board of Krajowa Izba Rozliczeniowa S.A.; from 2014 to 2017, he served as Deputy Chair of the Supervisory Board of KDPW_CCP S.A.; from 2011 –2014, he was a Member of the Supervisory Board of KDPW S.A.
From 2011 to 2014, he was a member of the Advisory Technical Committee to the European Systemic Risk Board (ESRB). In 2011, he chaired the working group drafting the ESRB’s first set of recommendations. From 2014 to 2017, he served on the ESRB’s assessment panel, which analysed the macroprudential policy measures implemented by EU Member States. From 2017 to 2023, he was a member of the Monetary Policy Committee of the European System of Central Banks. From 2004 to 2006, he served as a contractual adviser and expert at the International Monetary Fund. Between 2003 and 2023, he actively supported the management of public debt by the Polish Ministry of Finance, maintaining investor relations, supporting Poland’s credit ratings, preparing analytical materials, and participating in roadshows.
He is a graduate of the Academy of Catholic Theology (1992), the National School of Public Administration in Warsaw (1995), and a PhD programme at the Warsaw School of Economics (1999). He also studied economics and philosophy at Otto-Friedrich University in Bamberg, Germany (1989–1990). In 1999, he was awarded a PhD in Economics from the Warsaw School of Economics. He has participated in training programmes and courses on economics, financial markets, risk management, and corporate governance, including the 2025 Audit and Risk Programme at London Business School.
He is the author of analyses and publications on monetary policy, the development of the financial system, and systemic risk management. He has spoken at numerous conferences on financial markets and financial stability. He has experience in mentoring staff of public and international institutions. He is a recipient of the Minister of Education’s award for his contribution to the monograph The Financial System in Poland, and has been awarded the “For Services to Banking in Poland” medal and the title of Honorary Ambassador of the Warsaw School of Economics.
Piotr J. Szpunar, Ph.D.
Member of the Management Board of Krajowy Depozyt Papierów Wartościowych S.A. (KDPW) and KDPW_CCP S.A.
Since September 2026, Member of the Management Board of Krajowy Depozyt Papierów Wartościowych (KDPW) and Member of the Management Board of KDPW_CCP.
