According to the Republic of Armenia Law on Financial System Mediator, the Board of Trustees of the Office of Mediator consists of 7 members. They are appointed as follows:
- one member by the Republic of Armenia Government,
- one member by the Board of the Central Bank of Armenia,
- one member by organizations that advocate protection of consumer rights, and
- four members by unions of organizations.
The Board of Trustees of the Office of Mediator is called to approve internal policies and procedures of the Office, hear Financial System Mediator reports, control the status of implementation of the decisions it has made, oversee day-to-day activities of the Office and its financial and economic performance, approve the budget of the Office, any changes made thereto; oversee the performance against the budget, approve annual financial accounts, and take on other functions as required by the law. According to the law, the Board of Trustees shall not interfere with the professional activities of the Financial System Mediator.