control function definition
control function. ’ means each of the following:
control function means a function that is independent from the business units it controls and that is responsible to provide an objective assessment of institution’s risks, review or report on those, including, but not limited to, the risk management function, the compliance function and the internal audit function.
control function means a function that is independent from the business units it controls and that is responsible for internal control procedures and includes the compliance, risk management and audit function.
More Definitions of control function
control function means the Company’s respective Risk Control & Compliance Control Functions and the Internal Audit Function.
control function means a function that is independent from the business unit it controls and that is responsible for providing an objective assessment of the credit institution’s risks, review or report on those, including the risk management function, the compliance function and the internal audit function;
control function or »supervisory function” means (i) the heads of the organisational units that perform the control or supervisory function, e.g. strategic risk management function, compliance function and internal audit function, and, if applicable, the money laundering prevention function, information and personal data protection function and the function of information protection in the IT and (ii) employees with management responsibilities in any of the indicated organisational units who directly report to the head of the organisational unit;
control function means a risk management function or compliance function established and maintained in accordance with section 85(6) of the Act;
control function means a function independent from the business units that it controls, which has a responsibility to provide objective assessment of risks, reviews or reporting, including, but not limited to, the risk management function, the compliance function and the internal audit function
control function means a function that is independent and provides the in s u r er ’ s board of directors and the management with an independent assessment of the quality and effectiveness of an insurers’ internal control systems;
control function means a function specified in paragraph 8; “executive director” means a director of the insurer who