Wallace is in the last season of his five-year deal and, with the Tigers yet to win from four starts, is under significant external pressure from supporters and the media.
But Tuesday night's board meeting reaffirmed the club's decision to hold a mid-season coaching review.
Wallace said he was confident of that result all along.
"I'm very comfortable with my position. I couldn't be getting more support from the board and management," he said at Punt Rd before training on Friday.
"A couple of wins would obviously help, and I've been in the game long enough to know that can change at any point along the way and that's fine, but I think everyone around the footy club's been tremendously supportive.
"I've been told that I'm going on and I'm very, very comfortable with that."
Wallace said the pressure wasn't affecting the way the club went about its business.
"The group's been pretty good – that's external and I know we all talk about it, and clearly it impacts everything you're doing in your life because people want to talk about it everywhere you go.
"But I think when the boys are here and they're doing what they're paid to do, I don't think it's been much of an issue at all.
"The coaching staff, my assistant coaches and the players are getting on well and spending good time together just trying to get things right.
"I think internally things are actually better than they look externally."
Wallace admitted he had been disappointed by two-time North Melbourne premiership-winning coach Denis Pagan's statement mid-week that he was "still very keen to coach", a comment Pagan later insisted was not related to the Richmond job in any way.
Wallace has spoken to Pagan, but would not elaborate on what was said.
"We spoke and we move on," he said.
