Article 308 - System of governance

a description of the structure of the undertaking’s administrative, management or supervisory body of its main roles and responsibilities and of the segregation of responsibilities within those bodies, and in particular whether relevant committees exist within them, and a description of the main roles and responsibilities of key functions;

the remuneration entitlements of the members of the administrative, management or supervisory body and other key function, over the reporting period and the reasons for any material changes to those entitlements compared to the previous reporting period, including an explanation of the relative importance of the fixed and variable components of remuneration.

a list of the persons in the undertaking that are responsible for key functions;

a description of the undertaking’s specific requirements concerning skills, knowledge and expertise applicable to the persons who effectively run the undertaking or have other key functions.

a description of how the risk management system including the risk management function, are implemented and integrated into the organisational structure and decision-making processes of the undertaking;

information on the undertaking’s risk management strategies, objectives, processes and reporting procedures for each category of risk;

information on how the undertaking verifies the appropriateness of credit assessments from external credit assessments institutions, including information on how, and the extent to which, the undertaking uses credit assessments from external credit assessments institutions;

results of the assessments regarding the extrapolation of the risk-free rate, the matching adjustment and the volatility adjustment, as referred to in Article 44(2a) of Directive 2009/138/EC.

a description of the undertaking’s internal control system elements and, where applicable, any material failures of that internal control system;

information on the advice given and assessments performed, as referred to in Article 46(2) of Directive 2009/138/EC during the reporting period, including any planned activities that were not implemented and the reason for their non-implementation;

information on the undertaking’s compliance policy, any major activities taken under the compliance plan and any material compliance problems identified during the reporting period.

a description of internal audits performed during the reporting period, with:

a description of the undertaking’s internal audit policy, and the frequency of its revision;

a description of the undertaking’s audit plan, including future internal audits and the rationale for those future audits.

a description of how the actuarial function of the insurance or reinsurance undertaking is implemented;

an overview of the activities undertaken by the actuarial function in each of its areas of responsibility during the reporting period, describing how the actuarial function contributes to the effective implementation of the undertaking’s risk management system and describing the main findings of the actuarial function.

a description of the outsourcing policy of the insurance or reinsurance undertaking;

a list of the persons responsible for the outsourced key functions in the service provider.