The spindle should be greased on the non-drive-side where the crank arm goes on. If it isn't, you can get a creaking sound when you pedal. For that type of BB, I've never seen a shield of any kind. The BB is a cartridge, and it's not assembled like the older style BBs with cups, ball bearings, lock rings, and so forth. It looks like the ones you see here before it is installed.