Role and Responsibilities of the Board of Directors and Senior Management as Regards the Appointed
Article 36
The Board of Directors and Senior Management of the Company must ensure that the responsibilities of the Appointed Actuary can be carried out without delay. This includes:
1. Providing the Appointed Actuary with direct access to the Board of Directors and Senior Management and internal and external auditors of the Company.
2. Providing the Appointed Actuary with access to such information and explanations as needed to comply with these Rules.
3. Responding to requests for information from the Appointed Actuary in an accurate, comprehensive and timely manner.
4. Considering and taking such actions as they consider appropriate based on the recommendations included in all reports provided by the Appointed Actuary.
5. Ensure the effectiveness, adequacy and objectivity of the Appointed Actuary, for instance, ensuring the appropriate performance of his role, and the adequacy and effectiveness of the internal procedures and systems, technical program used, and human resources.
Article 37
If the Appointed Actuary is unable to obtain such information, explanations and resources from the Board of Directors and Senior Management as they reasonably require to carry out their responsibilities the Appointed Actuary shall report the matter to SAMA if appropriate action is not taken within (10) working days of reporting such matter to the Board of Directors in writing.