The FATF President is a senior official appointed by the FATF Plenary from among its members. In April 2019, the revised Mandate extended the terms of the FATF Presidency to a two-year period.

The term of the President begins on 1 July and ends on 30 June two years after assuming office. The President convenes and chairs the meetings of the FATF Plenary and the Steering Group.  The FATF Executive Secretary and FATF Secretariat staff are responsible to and act under the instructions of the President, in accordance with any directions given by the Plenary, on all issues relating to the activities and function of the FATF.  The President is the principal spokesperson for the FATF and represents the FATF externally.

The FATF Vice-President, is appointed by the Plenary from among its members. The Vice-President assists the President in carrying out his/her responsibilities and stands in for the President when necessary.