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Banking and payment services: Methodology for evaluation of members of bodies in entities supervised by KNF

Banking and payment services: Methodology for evaluation of members of bodies in entities supervised by KNF

On February 3rd, 2021, KNF published an updated version of the Methodology for the evaluation of members of bodies in entities supervised by KNF. This document sets out the main requirements and assessment methods applied by KNF for members of authorities in KNF-supervised entities. The update addresses matters related to the professional experience of candidates.

The methodology covers the following main areas:

  1. suitability assessment/evaluation criteria (knowledge, skills, professional experience, reputation, financial situation, independence, conflict of interest, combining positions, time availability),
  2. events requiring the assessment/evaluation,
  3. impact of the assessment/evaluation outcome on the supervised entity,
  4. impact of the assessment/evaluation outcome on KNF actions,
  5. assessment/evaluation tools,
  6. model assessment/evaluation process.

The methodology shall be used by all supervised entities, including: banks, cooperative institutional protection systems, insurance, and reinsurance companies, pension companies, investment firms. However, other entities like national payment institutions and electronic money institutions shall make use of the methodology in order to make sure they comply with regulatory requirements, as in many aspects they are very similar.



Piotr Putyra

Lawyer

Piotr Putyra

Barrister, Managing Partner

Piotr Putyra

Contact:

Rondo ONZ 1
00-124 Warsaw