Management system

Image: Fingrid’s management system in a matrix model

Fingrid operates in accordance with a matrix model where the strategy and organisation are paired. The model pushes collective efforts and shared goals to the forefront. A matrix organisation is challenging, but we have shaped the company into an agile and flexible player with a flat hierarchy. The strategy is implemented as a matrix organisation through four defined perspectives.

Personnel is organised according to functions 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 targets set forth in the strategy.

In the company’s management model, managers have a dual role as heads of both operations and perspectives. The management system is described in more detail in the Management principle document.

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, risks and implementing practical risk management measures in compliance with the principles of internal control, as well as risk management and Fingrid’s other guidelines.

In the matrix model, management takes place through the selected perspectives: Personnel & Expertise, Customers & Society, Finance and Internal Processes. The chosen model ensures that the company’s strategy is implemented in a balanced way.

Instruction system

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.

Fingrid’s asset management has been certified according to ISO 55001:2014. The standard’s requirements can be seen in the instruction system followed by the entire company.

Management principle documents approved by Fingrid’s Board:

  • Fingrid’s Code of Conduct
  • Management principles
  • Corporate financial and procurement 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