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  • OM-2.4 OM-2.4 Succession Planning

    • OM-2.4.1

      Succession planning is an essential precautionary measure for a bank if its leadership stability — and hence ultimately its financial stability — is to be protected. Succession planning is especially critical for smaller institutions, where management teams tend to be smaller and possibly reliant on a few key individuals.

      October 07

    • OM-2.4.2

      The CBB requires locally incorporated banks to document their Board-approved succession plans for their senior management team and have these ready at any time for onsite inspection by CBB staff.

      Amended: July 2011
      Amended: January 2011
      October 2007

    • OM-2.4.3

      [This Paragraph was deleted in July 2011].