ISFB Insight

Running a bank requires more than just experience

June 24, 2026

The ISFB Certificate in Governance and Risk Management for Board Members addresses a requirement that has become central to the financial sector: serving on a board with a solid understanding of the risks, regulations, and personal responsibilities involved. For Pranvera Këllezi, a lawyer in Geneva and a member of the board of the Swiss Circle of Female Directors, continuing education is now an integral part of the role of a director. Interview.

Interview by Mathias Baitan

Pranvera Këllezi, the ISFB Certificate in Governance and Risk Management for Board Members is designed for members of the boards of directors of financial institutions, as well as for professionals who are expected to move into this type of role. Why does this partnership with the ISFB make sense for the Swiss Circle of Female Board Members?

The Swiss Circle of Female Board Members was founded on a simple belief: boards of directors are more effective governing bodies when they bring together diverse perspectives and varied experiences. With this in mind, the CSDA now brings together more than 350 members—women who serve on boards of directors or who have the experience and skills to join them—across sectors as varied as manufacturing, services, and finance. What sets our network apart is, above all, the depth and diversity of its members’ skills; these are professionals with financial, legal, or technological expertise who bring real added value to the boards on which they serve.

This partnership with the ISFB reflects the CSDA’s longstanding commitment to the professionalization of boards of directors. Being a board member today means exercising sound judgment, asking relevant questions, and taking the time to reflect on governance issues that are becoming more complex with each passing year. This is something I have personally experienced; serving on a regulatory body such as COMCO requires constantly staying up to date, regardless of one’s level of experience. Maintaining and deepening one’s skills is an integral part of the role.

The CSDA already has partnerships with the ACAD and the Swiss Board School, which provide our members with access—on preferential terms—to high-quality training on the fundamentals of governance. The ISFB Certificate complements this offering in a highly targeted manner by addressing a specific need: that of directors of banks and other financial institutions, or those who are set to become directors.

And this is where the partnership truly comes into its own. The banking and financial sector is subject to a demanding regulatory framework. Gaining a deep understanding of the sector’s specific characteristics, mastering this framework, and exercising oversight with discernment are skills that cannot be improvised. Moreover, Swiss law requires that every member of the board of directors of an entity subject to FINMA supervision must meet, before taking office and throughout their term, the criterion of ensuring impeccable conduct. This requirement has two distinct components: the suitability of one’s skills for the role performed at that specific institution, and personal integrity. A program such as the ISFB Certificate directly contributes to the first of these aspects.

Banking governance today requires an understanding of risks, regulations, the role of the board, committees, internal controls, cyber risks, AI-related risks, and relations with FINMA. In your opinion, what is changing today in the way a board member carries out her duties?

The nature of serving as a board member has changed significantly in recent years, and this evolution is far from over. The growing professionalization of boards of directors is not a spontaneous phenomenon; it is a direct result of increased demands, both in terms of how the role is carried out and in terms of the personal liability of executives.

A distinctive feature of the financial sector is that it manages other people’s money. This responsibility toward depositors, savers, and investors justifies a comprehensive and constantly evolving regulatory environment, compliance with which is ensured by FINMA. It is the responsibility of board members to ensure that this imperative of trust is upheld, both in strategic decisions and in risk management. The stakes go beyond trust in any individual director or institution; they extend to the integrity and reputation of the Swiss financial center as a whole.

The international context further adds to this complexity. Banks are now on the front lines of enforcing international sanctions, which come on top of already substantial anti-money laundering obligations. Regulators’ decidedly stricter approach to digital assets is creating a new scope for vigilance. Furthermore, the geopolitical situation is helping to make cyber risks and issues raised by artificial intelligence essential topics for any board of directors.

It is this combination of factors that will enable entities subject to regulation to maintain a constructive relationship with regulators, both in Switzerland and abroad.

In this context, each member of a board of directors must, on an individual basis, stay continuously informed about rapidly evolving topics, as a thorough understanding of these topics is essential to the quality of their judgment. This is precisely why specialized training programs such as the ISFB Certificate are so valuable: they provide a structured framework for building the knowledge essential to serving as a director in this field.

The ISFB focuses on a short, in-person training program built around practical case studies and led by instructors with real-world banking experience. What can this format offer to experienced female board members or to women preparing to serve on a board?

The format chosen by the ISFB is based on a simple observation: the time of female professionals who serve on boards is a scarce resource. A short, in-person training program built around practical case studies and led by instructors with real-world banking experience is exactly what experienced female board members—who manage busy professional schedules—need.

The unique challenges of the banking and financial sector require both a solid foundation and the ability to apply that foundation to real-world situations. This comprehensive and coherent program fills the gaps in knowledge that relies solely on experience, which is often fragmented. When a large number of risks materialize at the same time, a piecemeal approach is not enough.

The goal of this certificate program is to bridge the gap between theory and practice by working on real-world cases and decisions actually encountered on boards, alongside professionals who speak the same language. This connection is what enables participants to move from an understanding of regulations to their application within the board of directors, and to manage multiple and often interdependent risks.

What message would you like to share with women who are still hesitant to seek board positions in the financial sector?

My message is not a call for boldness. And it is not directed solely at women, either: it applies to anyone considering serving on a board of directors in the financial sector.

First of all, there are good reasons for hesitation. In an industry under constant regulatory scrutiny, hesitation is not a sign of weakness; it is often a sign of maturity and clear-headedness. People who are indifferent to risk do not add value in this industry; they are, in fact, a risk in and of themselves. Anyone who questions whether their skills are a good fit for the role demonstrates a valuable form of metacognition: they take the time to assess their strengths without complacency and to gauge the gap between what they know and what the role requires. This is a healthy approach, and a program like the ISFB Certificate specifically provides a structured framework for reflection to help address these issues.

This same clarity also requires a full understanding of what the role entails. Serving as a director in the financial sector carries significant personal responsibility. Regulators’ expectations are high, and so are those of the public. Taking on this role without fully grasping the scope of the task would be detrimental—both to oneself and to the institution one is called upon to govern. My advice, therefore, is not “go for it.” Rather, it is an invitation to take the time to reflect, to address any potential shortcomings, and to draw on rigorous, specialized training programs. The clear-eyed approach that leads to hesitation is the hallmark of directors who make a difference.

ISFB Certificate in Governance and Risk Management for Directors

© Institut Supérieur de Formation Bancaire (ISFB). All rights reserved.
The analyses and content published by the ISFB may be quoted or reproduced in part, provided that the source is clearly mentioned. Any full or substantial reproduction of this article in another medium or format is subject to the prior written authorization of the ISFB. In order to facilitate reading and without any intention of discrimination, the masculine gender is generally used, in accordance with the grammatical rule that allows it to be used as a neutral value to refer to a group of people comprising both men and women. This publication is intended for ISFB members and their employees in Switzerland, as well as anyone interested in finance in Switzerland. It is not intended to be read or distributed in any jurisdiction where its distribution would be prohibited.

Pranvera Këllezi

Pranvera Këllezi is a member of the Federal Competition Commission (COMCO) and a lawyer in Geneva specializing in business law, competition law, corporate governance, data protection, and economic regulation. She holds a Ph.D. in law from the University of Geneva, an LL.M. in European law from the College of Europe in Bruges, and a Board Director Diploma from IMD in Lausanne. She serves on the CSDA committee, where she chairs the Governance & Legal Commission.