Traficom's task is to:
- ensure that the Finnish railway system complies with safety regulations and requirements
- ensure that safety authorisation and safety certificate holders' safety management systems are effective, efficient and compliant
- oversee the interoperability of the rail system and compliance with safety and other relevant requirements
- ensure the compliance, use and maintenance of rail subsystems
- oversee compliance of interoperability constituents, their use and their market
- oversee operations of Notified Bodies (NoBos) and Independent Safety Assessors (ISAs)
- manage rail stock registration and stock register
- oversee rail transportation of dangerous goods
- oversee organisations providing training related to the railway system.
Traficom's oversight is based on yearly approved oversight plans, which in turn are based on the NSA's oversight strategy (see link below, in Finnish). Oversight is regulated by European Commission Regulation (EU) N:o 1077/2012 on a common safety method for supervision by national safety authorities after issuing a safety certificate or safety authorisation. The Regulation entered into force 7 June 2013.
In addition to Traficom's oversight, railway undertakings, infrastructure managers and entities in charge of maintenance are expected to have common safety methods for monitoring their own activities. It is required by European Commission Regulation (EU) N:o 1078/2012 which entered into force 7 June 2013.
Holders of safety authorisations and safety certificates are also required to report to Traficom the results of their internal safety monitoring and the actions taken as a result. Reporting is done annually by submitting a safety report no later than 30 June. Traficom also oversees organisations' internal monitoring as part of its NSA oversight of Safety Management Systems.