Competent authorities shall assess the degree of involvement of senior management of an institution by confirming at least the following:
((a))
that senior management is responsible for implementing the operational risk governance and management framework approved by the management body;
((b))
that senior management has been empowered by the management body to develop policies, processes and procedures for managing operational risk;
((c))
that senior management is implementing the policies, processes and procedures for managing operational risk referred to in point (b).