FMA CIRCULAR ON THE SUITABILITY TEST OF BUSINESS
FMA CIRCULAR ON THE SUITABILITY TEST OF MANAGING DIRECTORS: PART 3 October 2, 2023 Experience is crucial. A managing director's experience is crucial to meeting the professional requirements for managing an institution. It is important not only to have theoretical knowledge but also practical experience in relevant areas. […]
SUPERVISORY BOARD: REQUIREMENTS FOR INDEPENDENCE
The independence of members of the management or supervisory board is an essential criterion for the proper performance of their duties.
FMA CIRCULAR ON THE SUITABILITY TEST OF MANAGING DIRECTORS: PART 2
FMA CIRCULAR ON THE SUITABILITY TEST OF MANAGEMENT DIRECTORS: PART 2 October 1, 2023 Here is the second part of the blog post on the requirements for management and supervisory board members. In order to properly assume overall responsibility within the management board and the monitoring and control tasks within the supervisory board, it is essential that every member of the management board and the supervisory board of a supervised […]
FMA CIRCULAR ON THE SUITABILITY TEST: PART 1
FMA CIRCULAR ON THE SUITABILITY ASSESSMENT OF MANAGING DIRECTORS: PART 1 October 1, 2023 Circular on Suitability Assessment The Financial Market Authority (FMA) recently published a circular concerning the suitability assessment of managing directors, supervisory board members, and key function holders in credit institutions, financial holding companies, and investment firms. In this four-part blog post, we will discuss the contents of this circular in more detail. Subject: The FMA circular […]
REQUIRED MANAGEMENT EXPERIENCE FIT & PROPER
REQUIRED MANAGEMENT EXPERIENCE October 1, 2023 What are Fit & Proper Tests? Assessing a potential business manager's managerial experience is a critical step in assessing their professional suitability. Several factors must be considered to ensure the individual has the necessary qualifications to lead a financial institution in a senior position. Here are some […]
FMA KNOWLEDGE CHECK
FMA VERIFICATION OF REQUIRED KNOWLEDGE, SKILLS, AND EXPERIENCE October 1, 2023 What are Fit & Proper Tests? Determining the professional qualifications and experience of a potential business manager is a multi-stage process aimed at ensuring that the necessary requirements are met. The FMA conducts this verification carefully by consulting various sources […]
Special requirements for supervisory board members
Special Requirements for Supervisory Board Members: Understanding, Monitoring, and Controlling October 1, 2023 Responsibility for All Members In the world of financial services and banking, supervisory board members bear enormous responsibility. They are responsible for understanding a credit institution's business activities, assessing the associated risks, and critically challenging management decisions. This responsibility applies […]
Anforderungen an Inhaber von Schlüsselfunktionen
Auch Geschäftsleiter von bedeutenden Zweigstellen gemäß § 18 BWG und leitende Angestellte von Tochterunternehmen in einer Unternehmensgruppe können als Inhaber von Schlüsselfunktionen qualifiziert werden.
Interne Kontrollfunktion
Anforderungen an Leiter interner Kontrollfunktionen: Die Wächter im Hintergrund 1. Oktober 2023 Hohe Anforderungen an Banken In der komplexen Welt der Finanzinstitute und Banken spielen interne Kontrollfunktionen eine entscheidende Rolle, um die Integrität und Sicherheit des Geschäftsbetriebs zu gewährleisten. Leiter dieser Funktionen müssen hohen Anforderungen genügen, um sicherzustellen, dass sie ihre Aufgaben effektiv und unvoreingenommen […]
Bedeutung von Fit & Proper
Fit & Proper Tests sind ein wesentlicher Bestandteil der Bankenaufsicht und dienen dazu sicherzustellen, dass die Führungskräfte von Kreditinstituten die erforderliche fachliche Eignung und persönliche Zuverlässigkeit besitzen.