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30 April 2020 Supervision

Well begun is half done. This also holds true for proposing candidates for fit and proper assessments. It is important to submit all relevant information when submitting the application, enabling us to take it into consideration without delay.

Forms

Institutions must use the Initial Assessment Application Form.

For reappointment of incumbent management or supervisory board members who have been assessed previously and whose role or remit has not changed, you can use the Reappointments notification form.

The forms can be found in the Digital Supervision Portal (Digitaal Loket Toezicht)

Forms for significant institutions

Significant banks (and their subsidiaries) must use the Prospective Appointment Notification Form for Banks that qualify as Significant Institution (under the SSM Regulation). In addition, significant institutions are required to use a standardised CV and an expertise and capabilities matrix compiled by the ECB. They are also obliged to submit a statement of possible conflicts of interests, filled in by both the candidate and the institution.

Information and annexes

The following documents must be submitted together with the Initial Assessment Application Form.

Application Form or the Prospective Appointment Notification Form for Banks that qualify as Significant Institution (under the SSM Regulation). You can download this list in PDF.

Please note that the consideration period may be prolonged if you fail to include any documents.

ID document

A legible copy of the candidate's valid passport or ID card (both sides) must be included with the application. Please note that we cannot accept a driver's licence as a valid ID.

The copy is used to verify the candidate's personal details, which is necessary to obtain judicial information. The document must be clearly legible and valid on the starting date of the new position. The applicant's photo, Citizen Service Number (Burgerservicenummer - BSN) and the machine readable zone may be blacked out, as we do not need them to check judicial information. Consult the Dutch Government website (www.rijksoverheid.nl) for more information about safely making copies of identity documents (in Dutch only).

Curriculum vitae

The candidate's CV must include at least the following:

  • Education and relevant training courses, stating the name and location of the education institute, years of attendance and diplomas/certificates obtained;
  • Professional experience, including the statutory name and place of the company, the period of employment, the position held, a description of the duties and responsibilities and the number of staff for whom the candidate was responsible.
  • All secondary positions, stating:
    • the statutory name and place of the company;
    • the field of expertise or committee;
    • the average weekly or monthly time commitment for each of the secondary positions listed in the CV;
    • whether any remuneration is received for the secondary positions.
  • Competencies

You can use this template to compile the candidate's CV.

Candidates for a significant institution must use the standardised CV for banks that qualify as significant institution under SSM regulation.

Job profile

The job profile must list at least the following:

  • fields of expertise;
  • duties and responsibilities;
  • expected time commitment;
  • required competencies;
  • requirements in terms of education and experience;
  • for proposed board members of institutions governed by the Financial Supervision Act, an organisation chart or other document showing the candidate's span of control.

Recruitment and selection procedure

Please provide a description of the procedure that was followed to recruit and select your candidate. Rather than attaching a standard procedure document, we would ask you to elaborate on the actual procedure followed.

Decision-making process and considerations upon appointments
Please substantiate how the candidate meets the job profile. If the candidate does not fully meet the job profile, please state the reasons why this person was nevertheless selected. If relevant, you can describe the measures taken to counter any conflicts of interest or the semblance thereof.
Expertise and capabilities matrix

The expertise and capabilities and accompanying notes provide insight into the expertise and capabilities of the candidate and the other board members, and therefore are an essential element of the assessment.

To be able to assess the matrix we need a description listing at least the following:

  1. A description of how the matrix was composed.
    For example: how were the scores calculated, who completed the scores, were they discussed within the collective, has the candidate taken note of the completed matrix document, etc.
  2. The expertise and capabilities matrix provides an overview of the candidate's knowledge and skills and those of the other members of the board.
  3. Answers to the following questions:
    1. Please indicate in which respects the collective scores best and worst, in your opinion, and why?
    2. How do you plan to compensate for the weaker points?
    3. What is the added value of the candidate with respect to the other members of the board?

In your explanation of the scores, it is important that you specify why a person was assigned a particular score, e.g. based on relevant education and experience.

Example 1: if a proposed supervisory board member has worked in the banking sector for several years in various positions, he or she is obviously assigned a high score on "knowledge of products and services". However, if a high score is assigned to a person who has worked in a different sector, you must provide adequate substantiation.

Example 2: if a candidate is proposed as a member of the investment advisory committee of a pension fund, and has worked at an asset management company for a number of years or has completed a high-level business accounting course, a higher score on "financial aspects" is only logical. If the candidate has gained their asset management-related experience in another way, you must be able to substantiate this.

To guarantee that the information submitted is complete, we prefer you to use our template matrix. You can find the formats at the bottom of this page.

Candidates for a significant institution must use the ‘Template for a matrix to assess the collective competence of members of the management body’ , drawn up by the ECB.

Time commitment

You should take account of the statutory maximum number of supervisory positions a management or supervisory board member is allowed to hold. This means that you must demonstrate that the candidate meets the requirements of the Management and Supervision Act (Wet bestuur en toezicht – Wbt) or, in the case of pension funds or occupational pension funds, the composition of the candidate's FTE score, as required under the Pension Fund Governance (Further Measures) Act (Wet versterking bestuur pensioenfondsen). To guarantee that the information submitted is complete, we prefer you to use our template FTE score form pension funds .

If the candidate is to be appointed at a significant institution (under SSM supervision), the CRD IV requirements apply.

Please also provide an indication of the candidate's actual time commitment. You can do so by stating the average weekly or monthly time commitment for each of the secondary positions in the candidate's CV. You could also add a separate document, such as the time commitment statement used by pension funds.

Description of the candidate's preparation for the position

Based on the application file, we establish whether the candidate has the required expertise and experience, fits the job profile and adds value to the board as a whole. If this preliminary investigation presents us with a clear picture, we may issue a positive decision without having to interview the candidate.
A description of how the candidate has prepared for the position may help us form a comprehensive picture of the candidate's fitness. Examples of candidate's activities include reading relevant documents, holding meetings or discussions with key function holders within the organisation, attending meetings as an observer or participating in internal or external training programmes.

Referees

Referees must meet the following conditions.

  • Referees have a relevant professional background and are sufficiently independent.
  • They are able to provide a description of the candidate's expertise, experience and professional conduct.
  • One of the referees should be the most recent superior or a fellow management or supervisory board member of the candidate.
  • At least one referee must work in the financial sector, but preferably at another institution than the candidate's.

Please provide the referees' name, telephone number, email address, current position and their relationship to the candidate. Please do not provide us with any further contact information than requested.

We will not necessarily contact all referees. Please inform your referees that DNB may not contact them.

Integrity Screening Form

For proposed appointments, you must also complete the Integrity Screening Form. If DNB or the AFM assessed the candidate on propriety in the past and no changes to any relevant facts or circumstances have occurred since the previous assessment, there is no need to submit the Propriety Assessment Form.

Declaration of possible conflicts of interest (only for significant insitutions)

Possible conflicts of interests have to be addressed. Please use the provided template and state possible personal/business relationships of the prospective appointee with the supervised entity. Also state whether the prospective appointee held a political position in the past two years.

Other relevant documents

You can add additional documents if you believe that they will provide us with a more comprehensive picture of the candidate or the position. Examples include the training or induction programme, assessment outcomes or management development assessments.

Signatory statement

When submitting an Initial Assessment Application Form through our Digital Supervision Portal, you must upload a signatory statement. This ensures that your application is signed by an authorised signatory of your institution. You will find the signatory statement when logged in to the Digital Supervision Portal.

sector

  • Banks
  • Clearing & Settlement Systems
  • Clearing institutions
  • Collective investment schemes
  • Electronic money institutions
  • Insurers
  • Investment firms
  • Payment institutions
  • Pension funds
  • Trust offices