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:

1. (a)

   that senior management is responsible for implementing the operational risk governance and management framework approved by the management body;

2. (b)

   that senior management has been empowered by the management body to develop policies, processes and procedures for managing operational risk;

3. (c)

   that senior management is implementing the policies, processes and procedures for managing operational risk referred to in point (b).