Recital 54

(54) In light of the role of the suitability assessment for the prudent and sound management of institutions, it is necessary to equip competent authorities with new tools to assess the suitability of members of management bodies, senior management and key function holders, such as statements of responsibilities and a mapping of duties. Those new tools should support the work of competent authorities when reviewing the governance arrangements of institutions as part of the supervisory review and evaluation process. Notwithstanding the overall collective responsibility of the management body, institutions should be required to draw up individual statements setting out the roles and duties of all members of the management body in its management function, senior management and key function holders and a mapping of duties, including details of the reporting lines, of the lines of responsibility, and of the persons who are part of the governance arrangements of the institution, and of their duties. Their individual duties and responsibilities are not always clearly or consistently defined and there might be situations where two or more roles overlap or where areas of duties and responsibilities are overlooked because they do not fall neatly under the remit of a single person. The scope of each individual’s duties and responsibilities should be well defined and no tasks should be left without ownership. Those tools should ensure further accountability of the members of the management body in its management function, of senior management and of key function holders. Furthermore, where Member States consider it necessary, they should be able to adopt or maintain stricter requirements for such tools.

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Source: EUR-Lex CELLAR · retrieved 2026-09-04 · Text as adopted (Official Journal); later amendments are not incorporated in this text.