ecoDa's response to EBA consultation on its revised Guidelines on internal governance

25.01.2017

ecoDa has just responded to the EBA consultation on its revised Guidelines on internal governance. These draft Guidelines put more emphasis on the duties and responsibilities of the management body in its supervisory function in risk oversight, including the role of their committees. They aim at improving the status of the risk management function, enhancing the information flow between the risk management function and the management body and ensuring effective monitoring of risk governance by supervisors.

ecoDa is calling for more clarity regarding the meaning of the term “internal governance”. ecoDa is also suggesting to carefully reflect on the division between the management and the supervisory function as well as on the definition of the respective responsibilities of executives and non-executives.