+Article 44 5.

Article 44 5.

For insurance and reinsurance undertakings using a partial or full internal model approved in accordance with Articles 112 and 113 the risk-management function shall cover the following additional tasks:

(a) 

to design and implement the internal model;

(b) 

to test and validate the internal model;

(c) 

to document the internal model and any subsequent changes made to it;

(d) 

to analyse the performance of the internal model and to produce summary reports thereof;

(e) 

to inform the administrative, management or supervisory body about the performance of the internal model, suggesting areas needing improvement, and up-dating that body on the status of efforts to improve previously identified weaknesses.

1. Panoramica

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1.1 Riferimenti

1.2 Requisiti identificati

1.3 Standard correlati

2. Requisiti identificati

Requisiti

3. Standard correlati

Standard