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Version date: 15 December 2023 - onwards

5 Assessment of knowledge and experience of individual members (paras. 39-40)

39. As part of the assessment of the management or administrative organ’s suitability, credit servicers should assess the knowledge and experience of individual members. For that purpose, credit servicers should:

a. gather information through various channels and instruments (e.g. diplomas and certificates, recommendation letters, curricula vitae, interviews, questionnaires);

b. require the assessed individual to provide accurate information and to provide proof of that information, where necessary;

c. validate, to the extent possible, the correctness of the information provided by the assessed individual;

d. where applicable, evaluate within the management organ in its supervisory function the assessment results; and

e. where necessary, identify necessary corrective measures.

40. Credit servicers should document a description of the position of the member for which an assessment was performed, including the role of that position within the credit servicer, and should specify the res

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