Administration

Keva is an independent body governed by public law and its operations are based on the Public Sector Pensions Act and the Keva Act. Further provisions supplementing the Act can be found in the Council’s Standing Orders.

Council

The highest decision-making body in Keva is the Council.

The Ministry of Finance appoints the Council members for the municipal electoral period. The Council has 30 members of which four are appointed, according to law, based on a proposal by the main municipal negotiating organisations and the rest based on a proposal by the Association of Finnish Local and Regional Authorities. The Association of Finnish Local and Regional Authorities must take into account the municipal election result in its proposal.

The present Council’s term of office began on 1 September 2017.

Members of Council

 Regular members

 Personal deputies

 Chairman,
  Mr Harri Jokiranta,  Seinäjoki


 Ms Pilvi Torsti, Helsinki

 Deputy Chairman,
  Ms Maarit Ojavuo, Kajaani


 Ms Minna Harmaala, Asikkala

 Ms Diana Bergroth-Lampinen, Pori

 Mr Erkki Huupponen, Pieksämäki

 Ms Christina Båssar, Korsnäs

 Mr Christian Sjöstrand, Helsinki

 Mr Toni Eklund, Turku

 Ms Liisa Terävä, Rautjärvi

 Ms Piia Flink-Liimatainen, Äänekoski

 Mr Tommy Björkskog, Naantali

 Ms Paula Himanen, Pori

 Ms Tuija Mäkinen, Jyväskylä

 Mr Keijo Houhala, KTN ry

 Mr Tero Ristimäki, Talentia ry

 Ms Pirita Hyötylä, Helsinki

 Ms Auli Mustikkamaa, Ylivieska

 Ms Paula Juka, Muhos

 Mr Terho Korpikoski, Simo

 Mr Tomi Kaismo, Oulu

 Mr Ismo Pöllänen, Imatra

 Mr Jouni Kemppi, Lappeenranta

 Ms Hanna Vuola, Laitila

 Mr Petri Lindroos, JUKO ry

 Ms Leila Lehtomäki, JUKO ry

 Mr Saku Linnamurto, Savonlinna

 Mr Pekka Leskinen, Leppävirta

 Ms Pia Lohikoski, Kerava

 Ms Kati Tervo, Kemi

 Ms Marja Lounasmaa
 Kunta-alan unioni ry

 Mr Keijo Karhumaa
 Kunta-alan unioni ry

 Mr Leo Lähde, Nokia

 Ms Anne Lindgren, Riihimäki

 Mr Teemu Meronen, Helsinki

 Mr Mikko Päivinen, Järvenpää

 Mr Juhani Nummentalo, Salo

 Mr Tero Rantanen, Järvenpää

 Mr Erkko Nykänen, Siilinjärvi

 Mr Antti Leinikka, Hämeenlinna

 Ms Silja Paavola, KoHo ry

 Ms Else-Mai Kirvesniemi, KoHo ry

 Ms Pia Pakarinen, Helsinki

 Ms Tiina Noro, Vihti

 Ms Ulla Perämäki, Helsinki

 Mr Joonas Honkimaa, Kouvola

 Mr Simo Riuttamäki, Huittinen

 Ms Minna Reijonen, Kuopio

 Mr Pekka Salmi, Tampere

 Mr Jaakko Ikonen, Vantaa

 Mr Jussi Saramo, Vantaa

 Mr Juhani Lehto, Hämeenlinna

 Ms Tiina Sarparanta, Kajaani

 Ms Erja Laaksonen, Jämsänkoski

 Ms Minna Sarvijärvi, Ylöjärvi

 Mr Markku Pakkanen, Kouvola

 Ms Aulikki Sihvonen, Kontiolahti

 Ms Emilia Syväsalmi, Eurajoki

 Ms Kirsi Torikka, Savonlinna

 Ms Ritva Sonntag, Kemi

 

 

Board of Directors

The Board’s task is the general supervision and guidance of Keva’s activities. The Board’s function, according to law, is to decide on the pension fund investment plan.

The Board of Directors for Keva is appointed by the Council. The Board has a two-year term of office. The Board has nine members of which two represent municipal employee organisations, as specified by law.

The term of office for the present Board is 2015 - 2016. 

Members of Board in 2015 - 2016

 Regular members                 

 Personal deputies 

 Chairman
  Ms Anna-Kaisa Ikonen, Tampere

 Ms Saija Äikäs, Espoo

 Deputy Chairman
  Mr Kari Nenonen, Vantaa

 Ms Tarja Filatov, Hämeenlinna

 Ms Heini Jalkanen, Naantali

 Mr Juha Kuisma, Lempäälä

 Mr Risto Kangas, JUKO ry

 Ms Anne Sainila-Vaarno, KoHo ry

 Ms Sallamaari Muhonen, Helsinki

 Mr Hannu Kokko, Vantaa

 Ms Päivi Niemi-Laine, 
 Kunta-alan Unioni ry

 Mr Rauno Vesivalo, KoHo ry

 Mr Markus Lohi, Rovaniemi

 Ms Tuula Partanen, Lappeenranta

 Mr Harri Virta, Tammela

 Ms Oili Heino, Pori

 Mr Raimo Vistbacka, Alajärvi

 Ms Marke Tuominen, Äänekoski

Members of Management group

 

Timo Kietäväinen
Timo Kietäväinen
CEO
 

Tapani Hellsten
Tapani Hellstén
Deputy CEO
 

Kimmo Mikander
Kimmo Mikander
Deputy CEO
 

Ari Huotari
Ari Huotari 
CIO
 

 

Tom Kåla
Tom Kåla
CFO

Paula Sivunen
Paula Sivunen
IT Director


Mika Gylén
HR Director


Reija Hyvärinen
Communication
Director

 

Pasi Lehto

Staff member
representative
Pasi Lehto,
Pension Specialist

Markus Mankin
Secretary of
Management
group
Markus Mankin,
Compliance Officer

   

Other operative bodies

Keva’s other operative bodies in addition to the Board and Council are the Investment Advisory Committee and the Working Life Development Working Group.

Investment Advisory Committee

Keva’s Investment Advisory Committee was set up to support financing operations and to further communications. It handles the development and policies of investment operations in an advisory capacity.

The Investment Advisory Committee is a statutory body, the members of which are appointed by Keva’s Board for its term of office. The Advisory Committee has 10 members and personal deputy members. The Advisory Committee contains representatives of employee organisations, the Ministry of Finance and the Ministry of Employment and the Economy. 

Members on Investmen Advisory Committee 1.1.2015 - 31.8.2017

Regular members

Personal deputies

Chairman Mr Seppo Juntti

Ms Jonna Sillman-Sola

Deputy Chairman
  Ms Terttu Savolainen

Ms Sinikka Malin

Ms Ritva Fransman

Mr Tero Ristimäki

Ms Tuulia Hakola-Uusitalo

Mr Tuomo Mäki

Ms Marja Isomäki            

Ms Auli Valli-Lintu

Ms Minna Martikainen

Mr Matti Keloharju

Mr Jouko Narikka    

Mr Juha Majanen

Mr Kari Parkkonen    

Ms Tiina Ingman

Mr Mika   Periaho    

Mr Jan Saarinen

Mr Olavi Ruotsalainen

Ms Sisko Seppä

 

Working Life Development Working Group

The function of the Working Life Development Working Group is to develop measures for maintaining the health and work capacity of municipal employees. The focus of the group is the improvement of the quality of working life, maintaining and improving work capacity as well as on measures preventing incapacity to work.

The working group and its function are defined in Keva’s Standing Orders. The Board appoints the working group for its term of office. Of the 12 working group members, six are chosen based on proposals by the municipal sector’s employee organisations.

Members of Working Life Development Working Group 1.1.2015 - 31.8.2017

  • Chairman Mr Aki Lindén
  • Mr Kari Hakari
  • Mr Tapani Hellstén
  • Mr Risto Kangas
  • Mr Jukka Kauppala
  • Ms Marja Lounasmaa
  • Mr Jukka Maarianvaara
  • Ms Helena Metsälä
  • Ms Anne Mironen
  • Ms Merja Paananen
  • Mr Tapio Ropponen
  • Ms Anne Sainila-Vaarno
  • Secretary Mr Pauli Forma

Supervision

The general supervision of Keva’s activities is carried out by the Ministry of Finance.

Financing operations planning and investment operations are supervised by the Financial Supervisory Authority (FIN-FSA), which reports its supervisory activities to the Ministry of Finance.

Internal control, risk management and internal audit  

Internal control

Internal control means all of the procedures, systems and methods through which Keva’s management and council aim to ensure efficient, economical and reliable operations and the accomplishment of its goals.

Internal control is a process which ensures the following: achieving set goals and aims as well as the economical and efficient use of resources the reliability and accuracy of financial and other management information complying with laws, regulations and instructions, as well as with decisions by administrative bodies, internal plans and operating methods.

Risk management

Risk management is an integral part of Keva’s internal control and it means the recognition, assessment, restriction and supervision of risks resulting from operations or significantly connected to them. Risk management also involves contingency and emergency planning to ensure the smooth continuation of operations.

The main objective of risk management is to support the development of Keva's operations and processes and the attainment of goals, in order to secure the rights of the insured and pension recipients in all situations.

The most significant risks for Keva are related to financing and investment activities and operational risks.

Further information on risk management is available in the Annual report 2016 (pdf).

Internal audit

The internal audit of Keva assesses the efficiency and adequacy of internal control at the institution and provides proposals for improving operations. The internal audit operations are based on an internal audit activities plan approved annually by the Board. The function reports to the CEO and the council.

Compliance function at Keva

The Compliance function’s core duty is to assist in proactively anticipating the effects of legislative and regulatory changes on Keva’s operations. The Compliance function also serves to ensure that the entire organisation has the capacity to comply with legislation, statutory regulations and Keva’s in-house rules.

The Compliance function is tasked with the following:

  • proactive anticipation of effects in legislative and regulatory changes 
  • promotion of compliance with acts, decrees and statutory regulations
  • supervision, advice and guidance for compliance with Keva’s in-house regulations, guidelines and principles 
  • contribution to risk management and good governance projects within Keva

The maintenance and development of Keva’s independent Compliance function is the responsibility of the Compliance Officer whose primary function is to support the Board, management and the business in ensuring reliable administration and the effectiveness and sufficiency of internal control. Compliance reports to the CEO and also provides regular reports to the Board.

The responsibility for legislative and regulatory compliance always resides with the business units and management which are supported in this undertaking by the Compliance function.