FINMA employs around 350 people. Its staff is made up of a broad range of specialists working together on an interdisciplinary basis. They are specialists from the fields of law, economics, mathematics, auditing, the actuarial profession, accounting and investment, amongst others.
Board of Directors
The Board of Directors of FINMA, as strategic management body, has seven to nine independent expert members, pursuant to FINMASA. It decides on matters of substantial importance, issues ordinances and circulars, and is responsible for FINMA’s budget. It also ensures internal controls by means of an internal audit unit and oversees the Executive Board.
Taking due account of corporate governance considerations, the following Board of Directors Committees have been set up from among the members of the Board of Directors:
- The appointment and remuneration committee carries out the preparatory work on which the Board of Directors bases its personnel decisions.
- The audit committee, as an independent specialist committee, provides substantial support to the Board of Directors in its monitoring activities.
- The strategy committee steers the strategy development process and makes proposals regarding the areas of FINMA’s strategic focus to the attention of the Board of Directors.
In addition, the Board of Directors recruits specialised members from among its ranks to perform an advisory role for the Board of Directors and the Executive Board. These specialists are accorded in-depth insight into concrete regulatory initiatives in relation to the respective supervisory laws and bring their specific areas of expertise and the strategic view of the Board of Directors to bear at an early stage by accompanying the regulatory work. In addition, the specialist areas Risk Management and Auditing will be established to function on a cross-legislative basis.
Lastly, the Board of Directors maintains institutionalised contact at the highest management level with key authorities and organisations in Switzerland and abroad. It thus has the opportunity to raise important developments and issues with selected stakeholders.
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 respective 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 and its committees.