The aim of Fingrid’s management and leadership is to implement the strategy approved by the Board of Directors and achieve the business goals effectively, responsibly and sustainably. The company’s management complies with internal control procedures, which ensure good governance.
We have organised the company’s operational strategy as an efficiently implemented matrix of four perspectives: customers & society, finances, internal processes, and personnel & expertise. The internal processes consist of: adequacy of the transmission system, system operation and promoting the electricity market.
The target setting and operational control for each strategic perspective is managed by an owner appointed by the President & CEO, supported by a steering group approved by the Executive Management Group. The perspective owner acts as chair of the steering group and rules over any necessary teams and working groups under the control of the steering group. The targets and guidelines for each perspective are based on Fingrid’s strategy and require the Executive Management Group’s approval.
The perspective owner is responsible for all major costs, revenue and investment forecasts related to the perspective, risk management, communications and stakeholder relations as well as for ensuring the quality and cost effectiveness of the IT system, information management and business solutions supporting the operations. The company’s ICT is organised in a similar manner. A steering group made up of key persons from the company’s businesses and ICT function supports the ICT Director.
Personnel is organised according to function such that managers are in charge of the annual planning and budgeting of the tasks in their respective area of responsibility and of implementing the action plans according to the business target set in the strategy.
The heads of functions are in charge of ensuring appropriate governance and decision-making procedures for their functions, as well as corporate responsibility, quality and cost effectiveness, correctness of the information required for monitoring the operations, controls, risks and implementing practical risk management measures in compliance with the principles of internal control and risk management and Fingrid’s other guidelines.
Fingrid’s instruction system is composed of three levels: policies approved by the Executive Management Group specify the principles approved by the Board of Directors and are complemented by the more detailed guidelines given by the perspectives and the business areas. Management principle documents approved by Fingrid’s Board:
- Fingrid’s Code of Conduct
- Management principles
- Corporate Finance and Financing Principles
- Internal control and risk management principles
- Main grid development and maintenance management principles
- Principles for managing system security
- Principles for promoting the electricity market
- Insider guidelines