141. Institutions should develop and maintain a culture that encourages a positive attitude towards …

Institutions should develop and maintain a culture that encourages a positive attitude towards risk control and compliance within the institution and a robust and comprehensive internal control framework. Under this framework, institution s’ business lines should be responsible for managing the risks they incur in conducting their activities and should have controls in place that aim to ensure compliance with internal and external requirements. As part of this framework, institutions should have internal control functions with appropriate and sufficient authority, stature and access to the management body to fulfil their mission, and a risk management framework.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/