According to the Republic of Armenia Law on Financial System Mediator, the Financial System Mediator shall have higher education and shall be of good repute, and shall have at least five years’ work experience. The Financial System Mediator may not be a person who has worked in any financial institution in the last three years. The Financial System Mediator cannot be engaged in entrepreneurial activity, be a member of management in any political party, hold a position in central or local governmental bodies, commercial organizations, perform other paid work, except for scientific, pedagogical and creative activities, and shall refrain from actions that cast doubt on their independence and impartiality.

The Financial System Mediator is appointed by the Board of Trustees of the Office, voted by at least five members, for a four-year term, and may be reappointed to the same position.

Number of Financial System Mediators shall be decided by Board. In case of presence of two or more Financial System Mediators, powers of Office Manager shall be executed by Chief Financial System Mediator who shall be appointed by Board decision from among Financial System Mediators. Chief Financial System Mediator shall continue to implement professional activities of Financial System Mediator.