166. In respect of the RMF role in the risk strategy and decision-making, competent authorities’ …

In respect of the RMF role in the risk strategy and decision-making, competent authorities’ review should aim at verifying that the application envisages the RMF’s active involvement at an early stage in the going concern in the elaboration of the credit institution’s risk strategy, in ensuring that the credit institution will have effective risk management processes in place and in providing the management body with all relevant risk-related information to enable the setting of the credit institution’s risk appetite level. Competent authorities should ensure that the RMF is envisaged to assess the robustness and sustainability of the risk strategy and appetite and that the latter is appropriately translated into specific risk limits, including at the business units level, and is involved before a decision is made by the management body concerning the risk strategies.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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