The Board sets the specific objectives for the activities of FIN-FSA, decides the operational principles, and guides and supervises achievement of the objectives and compliance with these principles.

In addition, the Board considers the budget of the FIN-FSA and submits it to the Board of the Bank of Finland for confirmation. In accordance with section 10 of the Act on the Financial Supervisory Authority (878/2008), the Board supplies the Parliamentary Supervisory Council at least once a year with a report on the operational objectives of the FIN-FSA and their achievement. This includes an assessment of expected changes in supervision, their impact on the accumulation of supervision fees and measures required by the expected changes.

Photo: The Board of the Financial Supervisory Authority 2021–2023
Top row: Lasse Heiniö, Marja Nykänen and Leena Kallasvuo
Bottom row: Leena Mörttinen, Heli Backman and Vesa Vihriälä

Board 2021

Chair Marja Nykänen
LLM (trained on the bench), Deputy Governor of the Bank of Finland

Vice Chair Leena Mörttinen
DSocSc, Permanent State Under-Secretary of the Ministry of Finance

Heli Backman
LLM, Head of Department, Director General, Ministry of Social Affairs and Health

Lasse Heiniö
MSc, actuary approved by the Ministry of Social Affairs and Health (SHV)

Leena Kallasvuo
MSc (Econ.)

Vesa Vihriälä
DSocSc, Professor of Practice, University of Helsinki

The deputy member for Marja Nykänen was Katja Taipalus (DSocSc, Head of Department, Bank of Finland). The deputy member for Leena Mörttinen was Janne Häyrynen (LLM, DSc Econ, Docent in Securities Market Law, Legislative Counsellor, Head of Unit, Ministry of Finance). The deputy member for Heli Backman was Hannu Ijäs (LLM, trained on the bench), Director, Ministry of Social Affairs and Health) until 18 April 2021 and Minna Lehmuskero (MSc, actuary approved by the Ministry of Social Affairs and Health (SHV), Senior Actuary, Ministry of Social Affairs and Health as of 28 May 2021.

The Secretary to the Board was Pirjo Kyyrönen, Senior Legal Advisor. The Board convened 35 times during the year. Fees paid to the members and deputies in the year totalled EUR 86,582.26. No separate attendance allowance was paid.