This section should describe the governance and management arrangements around the ILAAP including the involvement of the Board of Director, in addition to the risk management framework. At least the following areas should be covered:
i.
Description of the process for the preparation and updating of the ILAAP.
ii.
Description of the process for reviewing the ILAAP.
iii.
Definition of the role and functions assigned to the Board of Directors and Senior Management for the purposes of the ILAAP.
iv.
Definition of the role and functions assigned to various corporate functions for the purposes of the ILAAP (for example, internal audit, compliance, finance, risk management, branches and other units).
v.
Indication of internal regulations relevant to the ILAAP.
vi.
The overall risk management framework and how it pertains to liquidity and funding risks.
vii.
Bank’s internal limits and control framework, including the limits and controls around liquid asset buffers, and the appropriateness of the limit structure to the risk appetite.
