Mr Pentti Hakkarainen has been a Member of the Supervisory Board of the European Central Bank (ECB) since 1 February 2017. Among other tasks, he holds responsibility for digital agenda, budgetary issues, supervisory reporting, IT issues and audit activities. He was also a member of the Steering Committee of the Supervisory Board from 1 April 2017 until 31 March 2020.
Before joining the ECB, Mr Hakkarainen was a Member of the Board of the central bank of Finland (Suomen Pankki – Finlands Bank) from 2002 to 2017, serving as Deputy Governor from 2008 onwards. He was mostly in charge of the financial market stability function, monetary policy implementation, investment activities, risk management and macroprudential policy.
Prior to central banking, Mr Hakkarainen worked in the private sector for more than 17 years. Having worked at an international industrial corporation for around ten years, mostly as Finance Director, he subsequently held successive positions as CEO of two systemically important banks for seven years.
In addition to his core tasks, Mr Hakkarainen is Chairman of the Board of Directors of OLVI plc and Chairman of the Board of Directors of FINNVERA Oyj (state Export Credit Agency) since April 2017. He has been for 10 years Chair of the Board of the Finnish Financial Supervisory Authority, an alternate to the ECB Governing Council and an alternate of the IMF Board of Governors. He was also Chair of the European System of Central Banks (ESCB) Committee on Controlling and Chair of the ESCB Budget Committee, a member of the Economic and Financial Committee of the EU, and a member and Chair of the IMF Audit Committee.