Article 10 1

(a)

the reviewer is independent;

(b)

the resources assigned to the review are appropriate;

(c)

the process established within the institution to address the recommendations made by the reviewer is adequate;

(d)

the reviewer reviews the internal risk-measurement models on at least an annual basis, and includes the conclusions of that review in a report submitted to the senior management and the management body;

(e)

the report referred to in point (d) provides sufficient information to the senior management and the management body of the institution on all elements referred to in Article 325bi(2) and Article 325bp(7) of Regulation (EU) No 575/2013, and identifies the areas in the annual work plan that require a more detailed compliance analysis of those elements;

(f)

the review is adequate, proportionate to the size and the complexity of the portfolios concerned, and effective in identifying shortcomings.