Recruitment and Appointment
TC-2.1.1
If a
conventional bank licensee recruits or promotes an individual to undertake acontrolled function , it must first file Form 3 (Approved Persons) with the CBB and obtain the express written approval of the CBB for that person to occupy the desired position. In its application, theconventional bank licensee must demonstrate to the CBB that full consideration has been given to the qualifications and core competencies forcontrolled functions in Appendix TC-1. (See Article 65(b) of the CBB Law and Paragraph LR-2.3.1).October 2013TC-2.1.2
Conventional bank licensees should refer to Module LR (Licensing Requirements) providing detailed requirements on the appointment of individuals occupyingcontrolled functions (approved persons ).October 2013TC-2.1.3
A
conventional bank licensee proposing to recruit an individual has to satisfy itself, of his/her relevant qualifications and experience. Theconventional bank licensee should:(a) Take into account the knowledge and skills required for the role, in addition to the nature and the level of complexity of thecontrolled function ; and(b) Take reasonable steps to obtain sufficient information about the individual's background, experience, training and qualifications.October 2013