Including the three members of the Committee of the Board, the Board of Directors consists of 13 members elected by the cantonal parliament for a term of four years. The Board of Directors' term of office is limited to twelve years and in any case ends upon reaching the age of 70 years. The most important competencies include defining the principles of corporate policy, the mission statement, strategy and organisation, approving the annual report and annual accounts, determining the amount of profit distribution to the canton and municipalities, receiving information on large risk positions and appointing and dismissing members of the Executive Board.
The Board of Directors forms various committees for the preparation and implementation of its resolutions. These are the Audit Committee, the Risk Committee, the Compensation and Personnel Committee as well as the IT Committee.
The Head of Audit regularly reports the results of the audit activity to the Audit Committee of the Board of Directors and the Committee of the Board. Walter Seif has been in charge of the audit since 1 January 2015.