September 13th 2018
Member Query – FS Regulators
Given the expectations of FS regulators on ensuring the incentive arrangements for control functions are independent of the entities they exercise control over, a member is interested in understanding how the incentives of control functions (risk, compliance, audit, actuarial) are structured. They have asked, are they aligned to:
1. Group performance?
2. Another entity?
3. Their business’ scorecard excluding any financial performance measures?
4. A bespoke scorecard relating to control functions only e.g. risk metrics and qualitative assessments?
5. Individual performance only?
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