165. Competent authorities should be satisfied that the risk management function (RMF) will …

Competent authorities should be satisfied that the risk management function (RMF) will facilitate the implementation of a sound risk management framework throughout the institution and that its role within the credit institution covers its involvement in: a) risk strategy and decision; b) evaluation of material changes; c) identifying, measuring, assessing, managing, mitigating, monitoring and reporting on risks; d) assessment of breaches of risk appetite or limits and recommendation of remedies. For this purpose, competent authorities should also review and assess the outline of the strategy for managing such risks and including a risk tolerance and appetite statement and measures to align the assessed risk with the risk appetite.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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