Board and Senior Management oversight (i.e. ICAAP governance framework with a description of responsibilities, and the separation of functions);
(ii)
Arrangements through which the Board and Senior Management define the bank-wide risk appetite;
(iii)
Relevant policies and risk appetite/limits/tolerance; and
(iv)
How the Chief Risk Officer (CRO) is held responsible for the methodology and utilisation of the ICAAP, including
•
reporting comprehensive, comprehensible information on risks; and
•
advising the Board independently and objectively, enabling them to understand the bank’s overall risk profile and to effectively discharge their responsibilities.