State Treasury’s Finance Division receives recognition for the quality of its operations (13.11.2009)

The Finance Division’s persistent and systematic work to improve the quality of its operations was awarded on Thursday12th November. It received a highly appreciated Recognized for Excellence –award from Excellence Finland, an organization promoting excellence and competitiveness in Finland within the EFQM (European Foundation for Quality Management) framework.

The monitoring group emphasizes in its assessment the sound and extensive management of customer relationships. According to the Director of Finance Teppo Koivisto, the Finance Division’s customer base is highly international, consisting of a great number of institutional investors and international banks. The Finance Division also engages in considerable co-operation with other countries’ debt offices. Koivisto sees this interaction as extremely useful; The Finance Division receives valuable information on the best practices implemented in other countries.

The Finance Division’s external environment has undergone great changes during the past few years due to the global financial crisis. According to the assessment the Finance Division has succeeded well under the challenging circumstances because of its up to date risk management practices.

The monitoring group of the Excellence Finland also underlined the systematic handling of the key processes in the Finance Division and the high work ethic of the personnel. Finance Division also utilizes modern IT systems in its operations.

Further information:
Director of Finance Teppo Koivisto, gsm +358 9 772 5550

Deputy Director Mika Arola, gsm +358 9 772 5604

The Finance Division manages the central government debt and cash funds. It also administers the loans and interest subsidies granted from government funds and certain state guarantees. It takes care of will and inheritance affairs of people who have died with no heir and handles issues related to government exemptions from payment.