July 8, 2026

As a lecturer at ISFB for the Certificate in Governance and Risk Management for Board Members, Jean-Christophe Pernollet highlights the unique nature of a bank’s board of directors: making decisions without taking over the executive’s role, overseeing without managing, and understanding risks well enough to fully assume its responsibility. This requirement calls for a clear mindset: curiosity, critical thinking, and continuous learning.

Jean-Christophe Pernollet, you teach in the ISFB Certificate Program on banking governance. In your opinion, what distinguishes the governance of a bank from that of another company?

Although it does not reach the level of regulation seen in sectors such as pharmaceuticals, the banking industry is among the most heavily regulated sectors. This means that the key responsibilities of senior management—including, in particular, approving strategy and ensuring the adequacy of resources (human and otherwise), managing risks, and complying with legal and regulatory requirements—are even more critical. Another distinctive feature in Switzerland is that a bank director cannot hold an operational role within the institution, which is not necessarily the case in other jurisdictions.

Your career path has taken you through banking audit, risk management, compliance, executive management, and the board of directors. What has this journey taught you about the true responsibilities of a bank director?

The actual role has evolved significantly: on the one hand, boards of directors as a whole have become more professional and face higher standards; on the other hand, for banks, the regulator expects boards of directors to approve more key decisions in advance.

A director cannot take the place of the CRO, the compliance officer, or the auditor. But he must understand, ask questions, and make decisions. What level of proficiency should he aim for?

The fundamental issue is undoubtedly that of the Board of Directors’ expertise as a whole. While specialists must be included, each director must understand the key issues in order, in particular, to contribute significantly to the approval of the strategy and risk management. Depending on their professional background, each director must undergo specific training. Continuing education is crucial.

How can a board of directors verify that corporate governance is actually working, beyond reports, meeting minutes, and dashboards?

By thinking critically and challenging management and oversight bodies—even in areas that appear successful or low-risk at first glance. I am a strong believer in the concepts of “constructive dissent” and “trust but verify.”

What would you like participants to take away from your presentation: a method, an approach, or a specific requirement related to the responsibility of running a bank?

An attitude. A board member must be curious, must seek to develop their skills, and must put those skills to work for the institution by fully fulfilling their role.

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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.

Jean-Christophe Pernollet

Vice Chair of the Board of Directors of Swissquote Group Holding SA and Swissquote Bank SA; Chair of the Audit and Risk Committee

Lecturer ISFB

 

A board member must be curious, must continue to learn, and must put their skills to work for the institution by fully fulfilling their role.

Jean-Christophe Pernollet