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03 March 2016 Supervision Supervision label Factsheet

As part of fit and proper assessments, De Nederlandsche Bank (DNB) may invite candidates for an assessment interview.

For each individual initial assessment, we will decide whether an assessment interview is necessary. Not all candidates will be invited for an assessment interview. If the assessment file has given us a comprehensive picture of the candidate, we may issue a positive decision without having to interview him or her. If we need more information, we will invite the candidate for an assessment interview.

Background

An interview may help clarify aspects in the file that are not yet sufficiently clear to us. The significance of the position or specific circumstances at an institution may also provide grounds for an interview. Candidates who are to be appointed as CEO, CFO, CRO, as chair of the management board, supervisory board, audit committee, risk committee or as a member of the investment committee, will usually be invited for an assessment interview.

Preparations

We have found that these interviews are more productive if candidates come well-prepared and are properly supported by the nominating institution. For instance, candidates should familiarise themselves with the institution, its products and services, its governance structure and corporate culture. To this end, they may read public and internal policy documents, talk to members of the management and supervisory board, senior management and key function holders. For pension funds this would also include members of the board of trustees, stakeholder bodies and the investment committee. This will provide candidates with an understanding of relevant trends and market developments, legal and regulatory requirements, the main challenges and bottlenecks for the organisation and possible issues at play. If necessary, institutions may have candidates sign a non-disclosure agreement in order to provide them with sufficient understanding of how the institution works.

Assessment interview

We will contact the candidate by telephone or in writing to schedule the interview, and confirm the agreed date and time in an email invitation. The invitation will give the names and job titles of the staff attending the interview.

Two or three DNB officers will attend the assessment interview: a specialist from the Expert Centre on Fit and Proper Testing and one or two of the institution's regular supervisors. The latter may include a department head or division director. In the case of significant banks under direct supervision of the SSM, an ECB officer may also be present, or the interview could be held at the ECB’s offices in Frankfurt. And in some cases an officer, department head or director of the AFM may attend the interview.

In 2017, we will start a pilot involving external senior experts, who, building on their executive experience and subject matter expertise, will be able to contribute their professional judgement to the assessment process. Their input will be carefully considered in our final decision making.

During the interview we will ask candidates about their knowledge and competencies, what they already know about the board as a whole and how it functions. We intend to conduct the interview as an open dialogue. It will take one and a half hours as a maximum.

If the first interview does not give us a clear and comprehensive picture, a second interview will be scheduled. This will involve other DNB officers, and it will always be attended by a senior manager. You will be informed in advance of the reason for the second interview.

Results

Based on the interview and the other information available to us, we will draw up a proposed decision. This will not be immediately available after the interview, but will be discussed and reviewed within DNB first. We aim to inform the candidate of our decision as soon as possible. For significant banks, the ECB's procedures must be adhered to.

sector

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