MAS Guidelines on Individual Accountability and Conduct
What are the 5 accountability and conduct outcomes?
Outcome 1: Senior managers responsible for managing and conducting the financial institution’s core functions are clearly identified.
Outcome 2: Senior managers are fit and proper for their roles and held responsible for the actions of their employees and the conduct of the business under their purview.
Outcome 3: The financial institution’s governance framework supports senior managers’ performance of their roles and responsibilities, with a clear and transparent management structure and reporting relationships.
Outcome 4: Material risk personnel are fit and proper for their roles, and subject to effective risk governance, and appropriate incentive structures and standards of conduct.
Outcome 5: The financial institution has a framework that promotes and sustains among all employees the desired conduct.