77. As part of the overall assessment of internal governance and institution-wide controls …

As part of the overall assessment of internal governance and institution-wide controls, competent authorities should evaluate the institution’s ability to effectively and timely remedy the deficiencies identified and/or supervisory concerns expressed by competent authorities. In conducting this evaluation, competent authorities should consider whether the institution’s track record demonstrates its ability and intention to address supervisory concerns and/or identified deficiencies in an effective and timely manner, and whether this has been already taken into account in the assessment of other SREP areas. For this purpose, competent authorities should leverage the assessment of the following elements:

• a. the role of management body in (i) assessing the effectiveness of the institution ’ s governance arrangements, in particular relating to the remediation actions, and (ii) taking appropriate measures to address supervisory concerns and/or deficiencies (effective reaction to supervisory concerns);
• b. the risk culture within the institution;
• c. the adequacy and timeliness of information provided and exchanged with the competent authority;
• d. the quality of internal reporting on remediation actions to the management body, senior management and internal control functions;
• e. the role of internal control functions in reviewing the adequacy and effectiveness of the remediation actions undertaken.

1. Přehled

1.1 Odkazy

1.2 Identifikované požadavky

1.3 Související standardy

2. Identifikované požadavky

3. Související standardy

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