Administration
The Administration department supplies personnel, accounting, language, security, property and other internal services to the Bank of Finland and the Financial Supervisory Authority efficiently and with customer focus. The department is also responsible for controlling the Bank’s balance sheet risks and the investment risks of the Bank’s financial assets and for coordinating operational risk management.
The Head of Administration is Veli-Matti Lumiala.
Administration includes the following divisions and units:
Administrative Services
The Administrative Services Division produces and procures shared services for the Bank of Finland and the Financial Supervisory Authority (FIN-FSA), which operates in conjunction with the Bank. Administrative Services are responsible for providing both organisations with procurement, business travel, invoicing, payment transfer, transportation and house management services, and for calculation of the supervisory fees charged by the FIN-FSA. The Division is also tasked with the procurement of the necessary invoicing services and staff refectory, cleaning, transportation and office services.
Personnel and Financial Control
The Personnel and Financial Control division supplies personnel services, supports supervisors in personnel management and takes care of occupational wellbeing and professional development opportunities for the staff. The Division is also in charge of budget steering and cost control.
Risk Control and Financial Accounting
The Risk Control and Financial Accounting division is tasked with controlling the risks inherent in the Bank of Finland's financial assets and monetary policy operations, as well as with handling the middle office processes related to investments. In addition, the division is responsible for the financial accounting and financial statement reporting of the Bank of Finland and for assessing total balance sheet risks.
Security and Property Management
The Security and Property Management division is responsible for the security of the Bank of Finland’s activities and those of the Financial Supervisory Authority (FIN-FSA). It is also responsible for the premises of the Bank and the FIN-FSA. The division’s tasks include premises security, personal security, continuity and contingency arrangements, operational risk management coordination, and the Bank’s cash in transit arrangements. Additionally, the division is responsible for managing and maintaining the Bank’s properties and for property services maintenance and development.
Language Services
The Language Services section supplies translation and editing services for the Bank of Finland, Financial Supervisory Authority and, to some extent, the ECB.