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  • OM-1.6 OM-1.6 Succession Planning

    • OM-1.6.1

      Succession planning is an essential precautionary measure for a licensee 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.

      January 2014

    • OM-1.6.2

      The CBB requires licensees to document succession plans for their senior management team and have these ready at any time for onsite inspection by CBB staff. Licensees must summarise who is covered by their succession plan and confirm that the plan has been reviewed and endorsed at Board level.

      January 2014