FINMA adopts new structure

Specifically, a new Integrated Risk Expertise division was created to bring together the risk functions and cross-divisional topics (such as liquidity, capital and stress tests, credit risks, money laundering and sustainable finance), analysis and instruments, as well as on-site inspections. Pooling this knowledge will strengthen integrated supervision. The supervisory division is also supported with in-depth expertise, primarily from FINMA’s own on-site inspections. Marianne Bourgoz Gorgé, previously Head of Asset Management, leads this new division.

Furthermore, the Asset Management and Markets divisions were merged under the leadership of Léonard Bôle, so as to make the most of existing synergies.

As further steps in the reorganisation, policy expertise was centralised in the Supervisory Policy and Legal Expertise division, all relevant aspects of digitalisation were brought together in the Operations division, and a FINMA Chief Risk Officer function was created. The latter coordinates and optimises the existing risk management processes in the business divisions.

The measures taken will allow more intensive and effective supervision to be achieved in the areas of banking, insurance, asset management and markets. An integrated approach, intensive and direct supervision and an effective organisation are key prerequisites for FINMA’s success.

This step also addresses the challenges that FINMA will face as an integrated supervisory authority in the future. These include not only new realities in the banking sector but also challenges for the entire Swiss financial centre, such as non-financial risks and conduct issues.