Administration

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, four based on a proposal by Local Government Employers KT 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 2021. Chairman is Eero Reijonen and vice chairman is Heikki Vestman.

Members of Council

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.

Members of Board 2021-2023

Members of Management group

Personal E-mail addresses: firstname.lastname[at]keva.fi. Please, replace Scandinavian å, ä or ö. with a and o.

Jaakko Kiander CEO		Tapani Hellstén Deputy CEO		Kimmo Mikander Deputy CEO
Ari Huotari CIO		Tom Kåla  CFO		Reija Hyvärinen  Communication Director
Markus Mankin,  Administrative Director, Secretary of Management  group		Staff member  representative, Pasi Lehto Senior specialist

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 

• Chairman Ms Sari Lempiäinen
• Keijo Karhumaa
• Marko Heikkinen
• Jussi Salo
• Juha Honkakoski
• Teija Golnick
• Jukka Vänskä
• Kari Eskola
• Sinikka Valtonen
• Anna Kukka
• Ulla Westermarck
• Päivi Lanttola
• Arja Aroheinä
• Annikki Niiranen
• Tapani Hellstén
• Merja Paananen
• Tuula Metsä

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: Annual report and interim reports

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.