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Organisation

In 2012 FINMA employed an average of 477 people (442 FTEs). FINMA's Board of Directors has approved 481 FTEs for 2013. The workforce is made up of a broad range of specialists working together on an interdisciplinary basis. Specialists from the fields of law, economics, mathematics, auditing, the actuarial profession, accounting and investment, among others, work for FINMA.

Board of Directors

Under the Financial Market Supervision Act (FINMASA), FINMA's Board of Directors, as strategic management body, is composed of seven to nine independent expert members. It decides on matters of substantial importance, issues ordinances and circulars, and is responsible for FINMA's budget. It also implements internal control functions through an internal audit unit and oversees the Executive Board.

The Board of Directors forms the following standing committees to prepare and implement its resolutions and monitor the Executive Board:

  • The Appointment Committee carries out the preparatory work on which the Board of Directors bases its personnel decisions.
  • The Audit and Risk committee, as an independent expert committee, supports the Board of Directors in its monitoring activities.
  • In order to ensure efficiency and rapid decision-making, the Takeover Committee acts as FINMA's takeover appeals body.

In addition, the Board of Directors selects specialists from among its ranks to act as advisors to the Board of Directors and the Executive Board. They are involved at an early stage in FINMA's proposed regulatory initiatives, contributing their specific expertise and the strategic vision of the Board of Directors to the organisation's regulatory work.

Executive Board

The Executive Board is FINMA's operational management body and is responsible for ensuring that banks, insurance companies, stock exchanges, securities dealers and other financial intermediaries are supervised in accordance with the law and FINMA's strategy. The Executive Board decides on matters such as the granting of licences, key management, organisational and personnel issues, directives and supervisory matters of cross-divisional significance. The Executive Board prepares the necessary files and materials for decisions on items of business that fall under the remit of the Board of Directors and is responsible for implementing the resolutions of the Board of Directors.