After the line managers, who primarily act in a preventive manner to deal with risks in their own areas, the internal control system – together with the control functions – forms the second line of defence aimed at ensuring error-free business activities.
The internal control system (ICS) monitors FINMA’s internal procedures, methods, instruments and measures ordered by the Board of Directors, the Executive Board and other FINMA managers in order to safeguard the authority's financial base and ensure orderly operating procedures. A further task of the internal control system is to respond quickly to risk situations and implement appropriate measures.
FINMA's internal control system is supported by the specialist unit for Internal Controls. This unit should ensure that:
FINMA's internal control system is managed in line with professional standards. The ICS specialist unit also ensures that weaknesses are identified, measures are drawn up and their subsequent implementation is also monitored. The specialist works closely together with the third line of defence, the Internal Audit unit, and – in connection with financial issues – the Swiss Federal Audit Office as FINMA's auditor.