1. Irish Financial Services Law
  2. Central Bank of Ireland
  3. Consultations
  4. 2023
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  1. CP153 - Enhanced governance, performance and accountability in financial services - Regulation and Guidance under the Central Bank (Individual Accountability Framework) Act 2023
  2. Annex 2 Draft Guidance on the Individual Accountability Framework
  3. Part B (paras. 2.1.1.-2.9.16.)
  4. Chapter 2 Guidance on the Senior Executive Accountability Regime (paras. 2.1.1.-2.9.16.)
  5. 2. The Senior Executive Accountability Regime (paras. 2.1.1.-2.9.16.)
  6. 2.5 Statements of Responsibilities (paras. 2.5.1.-2.5.13.)
  7. Submission of Statements of Responsibilities to the Central Bank (paras. 2.5.3.-2.5.8.)
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Version date: 13 March 2023 - onwards
    Version 1 of 1    

Submission of Statements of Responsibilities to the Central Bank (paras. 2.5.3.-2.5.8.)

Closed
13 June 2023

2.5.3. In-scope firms are required to have an approved Statement of Responsibilities in place for all individuals in PCF roles on implementation of the SEAR.

2.5.4. In relation to new PCF role holder appointments, an approved Statement of Responsibilities must be submitted to the Central Bank, along with the Individual Questionnaire (IQ), when approval for a PCF role is being sought.

2.5.5. Where an individual holds (or seeks to hold) more than one PCF role at an in-scope firm, only one Statement of Responsibility, addressing all of the individuals Prescribed Responsibilities and Other Responsibilities, is required. In the case of an individual who holds (or seeks to hold) PCF roles in more than one firm, including within a group, a Statement of Responsibilities is required in respect of each firm.

2.5.6. The Statements of Responsibilities must be:

(i) kept up-to-date, contain the date and version control and signed by the PCF role holder;

(ii) reviewed on a regular basis by firms;

(ii

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