1.3 Division of responsibilities between members of the Board 2023

The Board consists of three members: Governor Olli Rehn, Deputy Governor Marja Nykänen and Member of the Board Tuomas Välimäki.

Governor of the Bank of Finland
Olli Rehn

Governor Olli Rehn’s responsibilities at the Bank of Finland cover monetary policy preparation, domestic economic policy, external communications, international affairs and internal audit. The Governor is a member of the Governing Council of the European Central Bank (ECB) and represents Finland on the Board of Governors of the International Monetary Fund (IMF).

Deputy Governor of the Bank of Finland
Marja Nykänen

Marja Nykänen’s responsibilities cover financial stability issues, macroprudential policy, statistics, legal affairs, financial and personnel administration, and security and real estate issues. She also has responsibility for the risk control of investment activities and of monetary policy, the financial stability process and the activities of the Management Group of the Bank of Finland’s Pension Fund. Nykänen is Chair of the Board of the Financial Supervisory Authority (FIN-FSA).

Member of the Board
Tuomas Välimäki

Tuomas Välimäki’s responsibilities include monetary policy implementation, investment of the Bank of Finland’s financial assets, payment systems and cash supply. In addition, his responsibilities cover information management, the development of a digital euro, the Bank’s research function and the Bank of Finland Institute for Emerging Economies (BOFIT). Välimäki is an alternate member of the Governing Council of the ECB.

Read more about the Board of the Bank of Finland.

Governor Olli Rehn’s leave of absence

Governor Olli Rehn was on leave of absence from 23 September 2023 to 30 January 2024. During that period the duties of Governor of the Bank of Finland were performed by Marja Nykänen. Rehn appointed Tuomas Välimäki to act in his absence as a member of the Governing Council of the ECB.

Decisions regarding deputising arrangements are made by the Parliamentary Supervisory Council. Adviser to the Board Kimmo Virolainen served as Acting Member of the Board of the Bank of Finland.