CTRL 4.1.2 Senior management’s role

The members of an authorised firm’s senior management are collectively responsible for implementing the corporate governance framework and risk management framework approved by the firm’s governing body, and for overseeing the firm’s daily operations. The members of the senior management:

(a) must ensure that the implementation of the frameworks is in accordance with these rules;
(b) must discharge their management responsibilities conscientiously and prudently;
(c) must maintain clear decision-making procedures to the extent appropriate to the nature, scale and complexity of the firm’s business;
(d) must actively promote a strong governance and risk management culture throughout the firm; and
(e) must establish and maintain policies and procedures that enable them to be satisfied that any individual who is to act for the firm is suitable, having regard to:
(i) the role that he or she is to have in the firm; and
(ii) the law applicable in the QFC.


Derived from QFCRA RM/2012-4 (as from 1st July 2013)
Amended by QFCRA RM/2020-4 (as from 1st July 2021)