Article 9
Senior management involvement
Competent authorities shall assess the degree of involvement of senior management of an institution by confirming at least the following:
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(a) |
that senior management is responsible for implementing the operational risk governance and management framework approved by the management body; |
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(b) |
that senior management has been empowered by the management body to develop policies, processes and procedures for managing operational risk; |
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(c) |
that senior management is implementing the policies, processes and procedures for managing operational risk referred to in point (b). |