The management  of ISF is provided by a Board of Directors including at least 5 members, with a 4-year term, and the executive management and coordination of the current activity is the responsibility of a General Manager.

General Manager: Prof. Ion Stancu PhD University professor, Finance Department, Academy of Economic Studies in Bucharest, master director "Financial management and investments" and Ph.D. with expertise in the fields Analysis and financial planning, Evaluation and financing of investment projects, Capital markets and management portfolio. Recommends for consultation, in this regard, the works “FINANCE. Financial markets and portfolio management. Direct investments and their financing. Analysis and financial management of the enterprise ”(2007),“ Corporate Finance with Excel ”(2012), as well as“ Corporate Finance, vol. I, Financial analysis and planning of the companies ”(2015). He has a wealth of experience in the reform of the programs of financial higher education (bachelor's, master's, doctorate) and in the international university cooperation as dean of the faculty of Finance, Insurance, Banks and Stock Exchanges (1993-2004) and as rector of the Academy of Economic Studies (2004-2016). As director and member in research projects, he analyzed the impact of arrears, financial crime, environmental protection, sustainable development, social responsibility, etc. on company performance and economic growth. Since 2003 he has been active as administrator of SIF Banat-Crişana and at Banca Românească. Since 1993 he is a member of CECCAR and since 2000 he is a member of CAFR.

Board of Directors

The meeting of the ASF Council on 02.09.2020 established the new Board of Directors of the Institute of Financial Studies, which includes as follows:

President: Valentin Ionescu Director of the Financial Stability and Strategy Directorate of ASF. He has been active for 18 years in various private companies in the country and abroad, in the field of investments in the capital market. In the ASF he held the position of Director of the Directorate for Strategy and Financial Stability. He also held the position of Director of the Integrated Supervision Directorate (2013 - 2014) and Director of the Insurance Regulatory Authorization Directorate (2017-2019). The professional activity also includes positions such as General Manager of the Bucharest Stock Exchange, Member in CA at Sibex, SIF Moldova (2012 - 2013) and Chairman of the Central Depository CA, but also international experience - Euro Invest Bank Gmbh Austria (Head of Sales, 2009 - 2010) and Wood & Co Czech Republic (Senior Sales Trader, 2007-2009). Mr. Valentin Ionescu graduated from the Academy of Economic Studies, Faculty of Commerce, has an MBA from CNAM Paris and a Certificate in Finance from George Town University US.
He is an active member of various committees of ESMA and EIOPA. Attends as a guest at the CNSM meeting.

VicePresident: Ovidiu Petru - Bachelor degree in Economics with experience in the field of capital market for over 14 years, successively occupying positions such as broker, marketing director and general manager of the Sibiu Stock Exchange (Sibex-Sibiu Stock Exchange SA). He participated in the professional training of specialists in the field of the Romanian capital market as an authorized lecturer of Sibex (Vocational Training Body). He currently works at ASF holding the position of management expert at the Office of the President of the Financial Supervision Authority.

Member: Vasile Neagu - graduated in Law, graduated a Master in European Commercial Law and obtained the title of Doctor of Law in 2015 at Titu Maiorescu University in Bucharest. He has published several specialized articles and is co-author of the monograph "Protection of Workers' Rights in International and European Law", published in 2016 at Hamangiu Publishing House. He has extensive experience in areas such as financial-non-bank management, financial services, insurance, debt collection and marketing. At the same time, Mr. Neagu was General Manager and founding member of a Financial Institution, as well as Vice President of the IFN Credit Board. He organized and had substantial interventions at multiple conferences with international participation in issues related to issues such as consumer protection, alternative dispute resolution, the financial-non-banking sector. Currently, Mr. Neagu Vasile is an Advisor to the First Vice-President of the Financial Supervisory Authority and has specific attributions to the position held.

Member: Paul Nica - graduated from the Academy of Economic Studies, Faculty of International Economic Relations, holds a master's degree in Capital Markets, being enrolled in the CFA Institute program and in the MBA at CNAM Paris. He is an alumnus of the Joint Vienna Institute training center. He worked both within the National Securities Commission and within the Financial Supervision Authority, being responsible for regulating the field of investment funds, with involvement also in the development of the EDUFIN financial education platform. He has been a member since 2013 of several international working groups in the field of investment fund regulation, namely Investment Management Standing Committee (ESMA) and C5 - Investment Management (IOSCO). He worked as a national expert in the field of regulation of investment funds during Romania's presidency of the Council of the European Union (first semester 2019). He currently holds the position of Director in the SIIF Cabinet.

Member: Mihaela Cojocaru - Currently Director of the Regulatory - Authorization Department within the Insurance - Reinsurance Sector of ASF. She has 25 years of experience in the field of insurance and reinsurance, both on the Romanian market and in other European markets (France, Italy, Spain). She graduated from the Polytechnic University of Bucharest, after which she attended postgraduate and doctoral courses at the Bucharest University of Economic Studies, obtaining the title of Doctor in Financial Risks since 2009.She participated to numerous training programs with CII, Swiss Re, Munich Re and was certified by STECIS Netherlands (The Trade Credit Insurance & Surety Academy) as well as a Certificate in Professional Management (OPEN University Business School, UK). She has also been a specialized trainer in insurance since 1997, in professional training programs within UNSAR based on the British Know-How Fund - since 2010 she became national accredited trainer.

Member: Dragoş Haşegan - currently holds the position of Chief Regulatory Service, Private Pensions Sector within the Financial Supervisory Authority, being responsible for the development of the regulatory framework. Since coming to the Authority, he has held various positions and responsibilities in areas such as prudential supervision, risk assessment, regulation and authorization, the main area of ​​expertise being investment management. Prior to joining the Authority's team, he accumulated significant experience in mergers and acquisitions, business consulting and strategic management, as a consultant at an international company. Mr. Dragoș Hașegan graduated from the Academy of Economic Studies, the Faculty of Finance, Insurance, Banks and Stock Exchange, and holds a Master's degree in Finance and International Business from the Aarhus School of Business, Denmark and an EMBA from Vienna University of Economics and Business , Austria.

Member: Alexandru Ciuncan - has more than 15 years experience in the field of private insurance and pensions in Central and Eastern Europe, with expertise especially in the area of ​​market conduct, regulation, consumer protection, media and financial journalism. Starting with September 2018, Alexandru holds the position of General Director of UNSAR - the National Union of Insurance and Reinsurance Companies in Romania. Between 2013 and 2018, Alexandru was a member of IRSG and OPSG, the two groups of Stakeholders within EIOPA - the European Supervisory Authority for Occupational Insurance and Pensions, participating in the elaboration and debate of legislative acts with a long-term impact on the insurance industries. and private pensions. At the same time, he held the functions of Secretary General of APPA - the Association for the Promotion of Insurance - the NGO that developed the first national campaigns for consumer information and education - and the Managing Partner of XPRIMM, a Romanian media company specialized in the insurance industry. EEC and EEA insurance. Alexandru CIUNCAN attended the courses of the Management Faculty of the Academy of Economic Studies of Bucharest, holds a Professional Certificate in Management (OPEN University Business School, UK) and is licensed PMP-Project Management Professional and ACP-Agile Certified Professional (Project Management Institute, USA). ).

Scientific Council

The structure of the ISF also includes a Scientific Council, with an advisory nature, which aims to ensure a high quality level of training programs and ISF actions by analyzing, debating and endorsing ISF programs, facilitating access to best practices, as well as and counseling on partnerships and collaborations.

President: Academician Lucian Albu, economist, correspondent member of the Romanian Academy since 2009 and full member since 2013. He is director of the Institute of Economic Forecasting within the Romanian Academy.

Member: Prof. Dumitru G. Badea PhD, university professor Bucharest Academy of Economic Studies, Finance Department, IAP Executive Director, program director for various research projects.

Member: Assoc. Prof Adrian T. Mitroi PhD, CFA, MBA, scientific director of the Master's Program in Applied Finance at the Bucharest Academy of Economic Studies. He is the founding president of CFA Romania and a 20-year volunteer for the CFA Institute. He was a member of the BVB Index Committee, portfolio manager and risk manager at SIF1 Banat-Crișana, investment officer at Romanian - American Enterprise Fund, executive director of several commercial banks and consultant for Booz-Allen and Hamilton. University lecturer, he teaches at ASE, Behavioral Finance and Personal Asset Management, Investments and Portfolio Management and International Financial Markets.

Member: Prof. Adriana Duțescu PhD, member of the accounting department, within the ASE Bucharest, the Faculty of Accounting and Management Informatics. Adriana Dutescu has over 23 years of academic experience. At international level he has contributed to the activity of the Federation of European Experts, within the Accounting Working Group, the European Financial Reporting Advisory Group, as a member of the Council, and to HERMES (higher education and research in the management of European universities), as a founding member. .

Member: Lecturer Ilie Grădinaru PhD, lecturer at the Academy of Economic Studies of Bucharest, expert partnership insurance broker

Member: Lecturer Meral Kagici PhD, lecturer at the Academy of Economic Studies, former research economist at the Embassy of the Kingdom of Saudi Arabia in Bucharest, former consultant at the World Bank and director of EU programs.

Member: Prof. Altăr Moise PhD, professor (emeritus) at the Bucharest Academy of Economic Studies and principal researcher at the Romanian-American University. He is the founding director of the DOFIN (Doctoral School of Finance and Banking) master's program - Center of European Excellence, within ASE ( He coordinated and participated in the realization of an important number of scientific research contracts, concluded with the Ministry of Research of Romania, with the British Academy, with the European Commission, with the World Bank and so on. He has published a number of 22 books and numerous scientific articles in the field of financial-monetary decision modeling, portfolio theory, optimization theory, macroeconomics, actuarial, systems theory, economic cybernetics and so on.