Matti Vanhala served as Governor of the Bank of Finland and a member of the Governing Council of the European Central Bank, 1998–2004. He entered the Bank of Finland's service in 1970. Prior to his governorship, his positions at the Bank included serving as a Board member and director, as well as a period as representative of the Nordic Countries on the Board of Governors of the International Monetary Fund (IMF), based in Washington D.C., 1977–1980.