+70. The composition of the management body should reflect the knowledge, skills and experience …

70. The composition of the management body should reflect the knowledge, skills and experience …

The composition of the management body should reflect the knowledge, skills and experience necessary to fulfil its responsibilities. This includes that the management body collectively has an appropriate understanding of those areas for which the members are collectively accountable, and the skills to effectively manage and oversee the institution, including the following aspects:

  • a. the business of the institution and main risks related to it;
  • b. each of the material activities of the institution;
  • c. relevant areas of sectoral/financial competence, including financial and capital markets, solvency and models, environmental, governance and social risks and risk factors;
  • d. financial accounting and reporting;
  • e. risk management, compliance and internal audit;
  • f. information technology and security;
  • g. local, regional and global markets, where applicable;
  • h. the legal and regulatory environment;
  • i. managerial skills and experience;
  • j. the ability to plan strategically;
  • k. the management of (inter)national groups and risks related to group structures, where applicable.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards
  • EBA -

    EN: Guidelines and other publications of the European Banking Authority (EBA), https://www.eba.europa.eu/. © European Banking Authority. Reproduction is authorised provided the source is acknowledged (EBA legal notice). Divided into sections and converted into the GRCA format, the wording unchanged. Only the versions published by the EBA are authoritative.

    DE: Leitlinien und weitere Veröffentlichungen der Europäischen Bankenaufsichtsbehörde (EBA), https://www.eba.europa.eu/. © European Banking Authority. Wiedergabe mit Quellenangabe gestattet (Rechtlicher Hinweis der EBA). In Abschnitte aufgeteilt und in das GRCA-Format umgewandelt, der Wortlaut unverändert. Maßgeblich sind allein die von der EBA veröffentlichten Fassungen.