Pretty much.Pretty much a "Single Pastor Rule." Some have referred to this as the "Moses Model." According to my understanding, there is a "Board of Trustees" who handles the business side of things but the Pastor is the "Man in Charge."
Oftentimes the "Board of Trustees" is comprised of lay leaders such as elders and other pastors within the region. The main benefit of having board members who aren't "members" of a particular congregation is they cannot be "controlled" by the "man in charge". The "Moses Model" does establish the pastor as being in charge but he is definitely not at will to rule with an iron fist. He is accountable to others. He will be brought into account if he abuses his power.
I personally don't have any problems with this model of leadership as I have seen it work well. My current pastor has proven himself to be above reproach, therefore, I support him even in matters I don't personally agree with. I've seen many good men pastor their congregation for many years. I've also seen some fail and be removed from office.