156. Competent authorities should assess whether the applicant credit institution has an …

Competent authorities should assess whether the applicant credit institution has an appropriate internal control framework which is commensurate with the credit institution’s envisaged activities, business model, complexity and associated risks (e.g. online onboarding of clients, cybersecurity protection and arrangements). Competent authorities should be satisfied of the adequacy of the allocated human resources both in terms of number of FTEs and qualifications, of the appropriateness of the systems and budget to support the conduct of the tasks.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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